How much does a trumpet weigh?

Accompanying a bank statement for Borden Company is a credit memo for $12,180 representing the principal ($12,000) and interest

Brut [27]

Answer:

Dr cash $12,180

Cr notes receivable $12,000

cr interest revenue $180

Explanation:

The cash receipt implies that the company cash has improved by $12,180 which means that a debit of $12,180 would be recorded in the cash account,since an increase in asset is a debit to the specific asset account.

On the other hand,notes receivable account that was previously debited when the transaction was consummated will now be credited with $12,000 with $180 credited to interest revenue account.

The rationale for credit entry in interest revenue is that an increase in income is naturally a credit entry in the books of accounts.

6 0

4 years ago

A 4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%. You buy the bond a little over a month before you get the firs

ElenaW [278]

A 4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%, is mathematically given as

DP=95.696. Option D is correct

<h3>What is the dirty price of this bond?</h3>

Generally, dirty price is simply defined as It's important to note that a "dirty price" is simply a bond pricing quotation that takes into account both the coupon rate and any interest that has already accumulated on the bond.

In conclusion, Dirty price

DP = (Clean price + interest Accrued)

Therefore

DP=0.80*(4%*100/2)+2*(1-(1+4%)^(-3.20))/(4%)+100/(1+4%)^(3.20)

DP=95.696

CQ

A4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%. You buy the bond a little over a month before you get the first coupon. Specifically, the fraction of the 6-month period that has already elapsed is 0.80.

Calculate the dirty price of this bond.

O 81.370

85.216

93.471

o 95.696

Read more about dirty price

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8 0

2 years ago

The current asset section of Guardian Consultant's balance sheet consists of cash, accounts recelvable, and prepald expenses. Th

ivann1987 [24]

Answer:

a) Current Liabilities $2,780,000

b) Long term liabilities $2,680,000

c) Accounts receivable $3,620,000

d) Therefore Acid Test 1.8

Explanation:

Step 1: Calculate the Current Liabilities

The question requires a work-back based on the information given as follows

Stockholders Equity (A) $3,900,000

Debt Equity Ration 1.4

Total debt therefore ($3,600,000 x 1.4) (B) $5,460,000

Total debt and equity therefore is (A + B ) $9,360,000

($3,900,000 + $5,460,000)

Total Equity and Debt = Total Assets

Total Assets therefore $9,360,000

Therefore Current Assets $5,560,000

(Total debt - Non Current Asset)

($9,360,000 - $3,800,000)

Less: Cash and prepaid expenses ($1,940,000)

($1,440,000 + $500,000)

Accounts receivable $3,620,000

Current Ratio therefore is 2.0 (not 20)

Meaning: Current Liabilities $2,780,000

(Current Assets/ Current ratio)

($5,560,000/2)

Step 2: Calculate Long term Liabilities

Total debt (from step 1) $5,460,000

less; Current Liabilities $2,780,000

Long term liabilities $2,680,000

Step 3: Accounts Receivable

Total Assets $9,360,000

Current Assets $5,560,000

(Total debt - Non Current Asset)

($9,360,000 - $3,800,000)

Less: Cash and prepaid expenses ($1,940,000)

($1,440,000 + $500,000)

Accounts receivable $3,620,000

Step 4: The Acid test ratio

Cash $1,440,000

Accounts Receivable $3,620,000

Quick Asset (Cash + Accounts receivable) $5,060,000

Current Liabilities $2,780,000

Therefore Acid Test 1.8

(Quick Asset / Current liabilities)

(5,060,000/2,780,000) 1.8

8 0

3 years ago

Bon Nebo Co. sold 25,000 annual subscriptions of Bjorn 20XX for $85 during December 2014. These new subscribers will receive mon

Crank

Answer:

Current Liabilities

Federal Income Taxes Payable $336,000

Advances on Magazine Subscriptions $1,593,750

Total Current Liabilities $1,929,750

Explanation:

Federal Income Taxes Payable

This is a current Liability as it falls under a period of a year. As March ends the first quarter, the quarterly tax is;

= 840,000 x 40%

= $336,000

Advances on Magazine Subscriptions

They are to deliver monthly subscriptions for 12 months to the tune of 25,000 copies which they have already been paid for. Under the Accrual system they cannot recognize this as revenue until they have fulfilled their obligation to deliver the magazines and until then, they are current Liabilities. As of end of March, they have fulfilled their obligations for 3 months leaving 9 in the year.

= 25,000 x $85 x 9/12

=$1,593,750

8 0

4 years ago

Explain how federal laws help promote fair competition.

saul85 [17]

Federal laws help promote fair competition by setting limits on what is acceptable to charge for something so that a price war also does not start. Federal laws allow necessities to be kept at prices that the average joe can afford. Also these laws allow for competing companies to still compete, but have pricing be more standard. If these laws were not in place, business demand would not be protected from unfair methods.

8 0

4 years ago