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Alla [95]
3 years ago
14

On January 1, 2020, Crane Corporation issued $660,000, 6%, 10-year bonds at face value. Interest is payable annually on January

1. Crane Corporation has a calendar year end.Prepare all entries related to the bond issue for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)2020Account Titles and ExplanationDebitCreditenter an account title for the journal entry on January 1enter a debit amount enter a credit amount enter an account title for the journal entry on January 1enter a debit amount enter a credit amount enter an account title for the journal entry on December 31enter a debit amount enter a credit amount enter an account title for the journal entry on December 31enter a debit amount enter a credit amount
Business
1 answer:
notsponge [240]3 years ago
5 0

Answer:

Dr cash   $660,000

Cr bonds payable       $660,000

Dr interest expense     $ 39,600.00  

Cr interest payable                           $39,600.00  

Explanation:

The issue of the bonds at face value implies that cash proceeds equal the face value of $660,000 which is then debited to cash account and credited to bonds payable.

The interest due on the bonds on 31st December payable on 1st January 2021 =face value*coupon rate

face value is $660,000

coupon rate is 6%

interest=$660,000*6%=$39,600.00  

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Explanation:

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3 years ago
Oliver needs to purchase new equipment for his team in order to complete his
noname [10]

Answer:

The correct answer is C

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3 years ago
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Letter c is correct.<u> Environment and noise affect communication.</u>

Explanation:

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This is because the organizational environment is a reflection of how the communication process is carried out within a company. Through clear, direct and ethical communication, it is possible to transform the company's internal and external environment, the way employees work, create value, improve the perception of stakeholders, reduce noise, and improve the coordination of all processes organizational, which ensures greater possibilities for the organization to be well positioned in the market in which it operates.

6 0
4 years ago
_____________ is by far the most popular target for american franchisors seeking to establish franchises in other countries.
Ostrovityanka [42]
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8 0
3 years ago
Flannigan Company manufactures and sells a single product that sells for $650 per unit; variable costs are $338. Annual fixed co
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Answer:

The contribution margin ratio is 0.48

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5 0
4 years ago
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