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3 years ago

Bankruptcy is a process when a lender tries to obtain money from an individual's employer to pay an unpaid debt.

2 answers:

6 0

The answer to this question would be false because when you file for bankruptcy you are not asking to get help to pay your debt you are asking to have it expunged.

____ [38]3 years ago

5 0

Answer:

FALSE

Explanation:

Bankruptcy is a legal situation in which a person or company declares that they have no financial capital to meet their obligations. This is a process that must be authorized by a judge. When bankruptcy is filed, the assets of the company / person filing for bankruptcy are frozen so that they can later be used to pay off part of the company's debts. For example, if a company goes bankrupt and does not pay suppliers and employees. The assets of the bankrupt business owners may be used to pay those who have been injured.

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Cairns owns 80 percent of the voting stock of Hamilton, Inc. The parent’s interest was acquired several years ago on the date th

tensa zangetsu [6.8K]

Answer:

hello your question has a missing journal entry table attached below is the entry journal table completely filled

Explanation:

Amount of bonds acquired = 40% of original bond

i) Bonds payable = 40% * 1,300,000

= $520000

purchase price of bonds = $520000 * 96% ( FACE VALUE )

= $499200

hence the annual amortization

(bonds payable - purchase price of bonds ) / 10 years - 2 years

(520000 - 499200 ) / 8 = $20800/8 = $2600

ii) premium on bonds payable

$20800 - $2600 = $18200

cash amount = $520000 * 8% = $41600

intra entity expense and income table is attached below

from the table

iii) intra-entity interest expense = $39000 and the

iv) intra-entity interest income = $44200

v) investment in bonds

purchase price of bonds + annual amortization

= $499200 + $2600 = $501800

the book value on bonds as at 1st January 2011

=$1300000 * 105% = $1365000

Premium on bonds as at January 1st 2011

= $1365000 - $1300000 = $65000

amortization of premium as at January 1st 2011

=( ($65000) / 10 years ) * 2 years

= $13000

hence the controlling interest in bonds payable = $540800

vi) gains on retirement bonds

= $540800 - $499200 = $41600

attached below is the journal entry on 31st December 2013

5 0

3 years ago

Ms. Pear owned 1,000 shares of YZ Corporation which she had purchased in Year 1 at a cost of $12 per share. In Year 3, she recei

Neko [114]

Answer:

$2,000

Explanation:

Ms. Pear invested $12,000 in 1,000 shares of YZ Corporation. After the dividends she received and the stock split, she ended with 2,400 shares. Since she sold 400 shares, it represents 16.67% of her total shares (= 400 / 2,400). To determine the basis for the 400 shares she sold all we need to do is multiply 16.67% x $12,000 (initial investment) = $2,000

7 0

3 years ago

A bowling alley charges each person $2 to rent shoes and $3 per game. Which function represents The rate of change of the functi

scZoUnD [109]

Answer:

The function is, y = 2 + 3x

The rate of change of the function is 3.

The y-intercept of the function is 2.

Explanation:

Given,

For each person,

The cost of renting shoes = $ 2,

Additional cost per game = $ 3,

Thus, the total charges for x games, ( say y ) = rent + additional cost for x games

⇒ y = 2 + 3x

Which is the required function,

∵ y = 2 + 3x is a line,

We know that,

The rate of change for a line y = mx + c is m.

Thus, the rate of change of the function is 3.

Now, for y-intercept,

x = 0,

y = 2 + 3(0) = 2

So, y-intercept of the function is 2.

6 0

3 years ago

New Age Computers manufactures and sells pagers and radio paging systems which include a 180 day warranty on product defects. It

alukav5142 [94]

Answer:

Given that,

sold a paging system = $4,500

Sold extended warranty = $1,400

The journal entry to record this transaction would include:

(i) cash account Dr. $4,500

To Sales A/c $4,500

(To record the sales)

(ii) Cash A/c Dr. $1,400

To Unearned revenue A/c $1,400

(To record the service revenue)

7 0

3 years ago

If a chart indicates that both the Dow Jones Industrial Average and the advance/decline line have been increasing since January,

pantera1 [17]

Answer:

B. Continue to rise

Explanation:

Since if the chart represents the DJIA and the line of advance or decline rises since the month of January and still it continues to be rise so the market should considered that the more and more stocks are increasing in terms of price rather than dropping

Therefore the correct option is B. continue to rise

3 0

3 years ago