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3 years ago

Bank customers should reconcile their records frequently with to prevent their checks from .

1 answer:

3 0

Bank customers should reconcile their records frequently with bank statements to prevent their checks from bouncing. They should frequently check the record of their balance in the account and the transactions being made to make sure that th checks they issue will still be valid.

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A company issues $16200000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The

bekas [8.4K]

Answer:

The amount of interest expense which will be recognized in 2020 is $949,681.45.

Explanation:

The following are given in the question:

Bond value = $16200000

Bond interest rate = 5.8%

Proceed from bond = $15825541

Yield rate = 6%

The amount of interest expense which will be recognized in 2020 can now be calculated as follows:

Interest expense for January 1, 2020 to June 30, 2020 = Proceed from bond * Yield rate * (6 / 12) = $15825541 * 6% * (6 / 12) = $474,766.23

Discount amortized during first 6 months = Interest expense for January 1, 2020 to June 30, 2020 - (Bond value * Bond interest rate * (6 / 12)) = $474,766.23 - ($16200000 * 5.8% * (6 / 12)) = $474,766.23 - 469,800 = $4,966.23

Interest expense for July 1, 2020 to December 31, 2020 = (Proceed from bond + Discount amortized during first 6 months) * Yield rate * (6 / 12) = ($15825541 + $4,966.23) * 6% * (6 / 12) = $474,915.22

Interest expense to be recognized in 2020 = Interest expense for January 1, 2020 to June 30, 2020 + Interest expense for July 1, 2020 to December 31, 2020 = $474,766.23 + $474,915.22 = $949,681.45

Therefore, the amount of interest expense which will be recognized in 2020 is $949,681.45.

3 0

3 years ago

Should companies hire only people who represent the company image based on how they look?

Alex_Xolod [135]

No, companies need to hire people who have experience.

3 0

4 years ago

In January, 20XX a customer buys 100 shares of ABC stock at $50 per share and pays a $2 commission per share. The customer recei

ANTONII [103]

Answer:

$ 52

Explanation:

Given data:

Price of the stock = $ 50

Commission per share = $ 2

Dividends received = $ 2

Now,

the dividends received is not the part of the stock's cost basis, but it is included in the taxable income for the year.

Therefore,

The customer's cost basis in the stock

= Price of the stock + commission per share

= $ 50 + $ 2

customer's cost basis in the stock = $ 52

5 0

3 years ago

An electric vehicle that offers a new, longer lasting battery at the existing prices is an example of a company focusing on:____

Sever21 [200]

An electric vehicle that offers a new, longer-lasting battery at the existing prices is an example of a company focusing on customer value.

In sales, commerce, and economics, a patron is the recipient of a great, provider, product or concept - received from a supplier, dealer, or supplier through a monetary transaction or trade for money or some different treasured consideration.

A customer is a person or business that purchases some other corporation's goods or services. customers are important because they pressure sales; without them, groups can not continue to exist.

An instance of a customer is someone who is going to an electronics shop and buying a tv. (informal) someone, especially one engaging in some kind of interaction with others.

Learn more about customer here:brainly.com/question/380037
#SPJ4

8 0

2 years ago

On January 1, 2020, Milwaukee Corporation issued $3,000,000 of its 20-year, 8% bonds payable at 96. Interest is payable annually

Arte-miy333 [17]

Answer:

It will include credit to discount on bonds payable for $6,000

Explanation:

Solution

Given that

Issue price of bond = $3,000,000 * 96%

Issue of bond =$ 2,880,000

Thus,

The discount of bond payable = $3,000,000 - $ 2,880,000

=$120,000

Amortization of discount of bond payable = $120,000/20

=$6,000

Now,

We prepare an entry to accrue interest which is given below:

Entry to accrue interest

Date Account Titles and Explanation Debit Credit

31-12-2020 Interest expense $246,000

discount of bond payable $6,000

Interest payable $240,000

(To record the interest accrued)

7 0

4 years ago

Bank customers should reconcile their records frequently with ________ to prevent their checks from ________.

Bank customers should reconcile their records frequently with to prevent their checks from .