Answer:
Dr Cash $208,000
Cr Bonds payable $200,000
Cr Premium on bonds payable $8,000
Explanation:
Preparation of the journal entry to record the sale of these bonds on June 1,
Based on the information given we were told that the company issues the amount of $200,000 at 104 which means the that the journal entry to record the sale of these bonds on June 1 will be:
Dr Cash $208,000
(2,000 × $104)
Cr Bonds payable $200,000
(2,000 × $100)
Cr Premium on bonds payable $8,000
(2,000 ×$4)
Note:-
$200,000/100 =$2,000
Not knowing there market or customer's needs.
Full question:
Management implements internal controls to ensure that all required footnote disclosures are accurate. Auditors tests those controls to provide evidence supporting the ________ presentation.
A) completeness and valuation
B) completeness and accuracy
C) rights and obligations and existence
D) occurrence and accuracy
<u>Answer:</u>
Auditors tests those controls to provide evidence supporting the completeness and accuracy presentation.
<u>Explanation:</u>
During the interim audit, the internal control system is documented and assessed. The completeness and accuracy of the erudition in the report superimposed which the auditor is relying on. Accuracy simply is inadequate. One requires to obtain certitude about both the completeness and the accuracy.
The statement that all the transactions that should hold been recorded are recorded is named completeness. A transaction is deemed accurate if: There is no fault while developing the supporting document, and there is no failure while posting this transaction.
Answer:
The correct answer is letter "B": Goods and services carry a price tag.
Explanation:
Utility is described as the degree of satisfaction or joy perceived by individuals by consuming a given good or service. Marginal utility refers to the satisfaction produced by consuming one more unit of that good. The marginal utility theory assumes that consumers make rational decisions pursuing the maximization of their returns considering those goods carry the same price tag.
Answer:
C) interest rate
Explanation:
Based on the scenario being described within the question it can be said that this price is commonly referred to as the interest rate. Like mentioned, this is the principal that is charged by the lender of the money to the borrower for the use of the borrowed money. This is usually charged as a percentage of the total amount that is being borrowed.
