1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
horsena [70]
3 years ago
8

Several years ago, Nicole Company issued bonds with a face value of $1,030,000 for $960,000. As a result of declining interest r

ates, the company has decided to call the bond at a call premium of 6 percent over par. The bonds have a current book value of $1,013,000. Record the retirement of the bonds, using a discount account.
Business
1 answer:
EleoNora [17]3 years ago
8 0

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

Bonds payable Dr,                      $1,030,000

Loss on retirement of bond Dr,       $78,800

($1,091,800 - $1,013,000)

          To discount on bond                      $17,000

          To cash                                            $1,091,800

($1,030,000 × 106%)

(Being retirement of the bonds is recorded)

You might be interested in
Klingon Widgets, Inc., purchased new cloaking machinery four years ago for $8 million. The machinery can be sold to the Romulans
alisha [4.7K]

Answer and Explanation:

The computation is shown below:

But before that we need to find out the current asset which is

The Net working capital = Current assets - current liabilities

$246,000 = Current assets -$790,000

So, the current assets is $1,036,000

Now the book value of Klingon’s total assets is

Total assets = Current assets + net fixed assets

= $1,036,000 + $6,000,000

= $7,036,000

The sum of market value of NWC and fixed assets is

= Market value of net working capital + market value of fixed assets

= $1,130,000 + $7,400,000

= $8,530,000

7 0
3 years ago
Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statem
densk [106]

Answer: Please find below the answer. You omitted the terms to be used.

Explanation: Using the accounting terms,  Revenue expenditure. straight line policy, Goodwill,capital expenditure, half year convention, accelerated depreciation, research and development, MACRS,

filling in the terms appropriately, or None, if statement does not describe any term, we have

a)An Expenditure that will benefit only the current accounting period - Revenue expenditure

b) The accelerated depreciation system used in federal income tax returns for depreciable assets purchased after 1986 - MACRS

c) A policy that fractional period depreciation on assets acquired or sold during the period should be computed to the nearest month - Straight Line  policy

d) An intangible asset representing the present value of future earnings in excess of normal return on net identifiable asset - Goodwill

e) Expenditures that could lead to introduction of new products, but which according to FASB, should be viewed as an expense when incurred - Research and Development

f-)Depreciation method that takes less depreciation in early years of an asset's useful life, and more depreciation in later years - NONE

g) An account showing that portion of the cost of a plant asset that has been written off to date as depreciation expense - Accumulated Depreciation.

7 0
3 years ago
An individual involved in the communication process
BabaBlast [244]

Interpersonal communication

4 0
3 years ago
The managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when
Evgesh-ka [11]

Answer:

Learning.

Explanation:

In this scenario, the managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements.

Hence, Julio's company is an example of a learning organization.

A learning organization is one which is typically characterized by creating an enabling environment for growth, training, and development of its employees. This opportunity and incentives help employees to engage in critical and creative thinking, research, and development. Consequently, employees would become more confident, brilliant, intelligent, knowledgeable and professionals in their assigned positions or roles, thus helping the organization to achieve its aim, goals and objectives.

<em>In a nutshell, this ultimately implies that it's very important and necessary that organizations sponsor brainstorming sessions and reward employees awesomely, when an out-of-the box idea leads to organizational improvements.</em>

3 0
3 years ago
According to recent research, 91 percent of businesses with 11 or more employees and 50 percent of those with 10 or fewer employ
Katena32 [7]
The answer here is true.
6 0
2 years ago
Other questions:
  • The online shopping, and online registration are examples of the digital economy.True or false?
    15·1 answer
  • What are some benefits of effective peer collaboration? Check all that apply
    5·2 answers
  • Crowl Corporation is investigating automating a process by purchasing a machine for $802,800 that would have a 9 year useful lif
    8·1 answer
  • 1. Stock Values. Integrated Potato Chips paid a $2 per share dividend yesterday. You expect the dividend to grow steadily at a r
    14·1 answer
  • _______ is part of the new social contract for employees.
    6·1 answer
  • According to the United Nations’ stages of economic development for classifying countries based on levels of industrialization,
    15·2 answers
  • Teresa wants to take her firm internationally but is concerned with the ________, which refers to the possibility of higher cost
    9·1 answer
  • Which sales channel incentivizes every member of its network?
    12·2 answers
  • which trade sanction (embargo or subsidy) would be more effective in protecting domestic jobs? EXPLAIN WHY!!!
    9·1 answer
  • Project management is no longer considered a special-need management tool; thus, learning project management skills is personall
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!