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
cricket20 [7]
3 years ago
6

E17-4 (LO1) (Entries for Available-for-Sale Securities) Assume the same information as in E17-3 except that the securities are c

lassified as available-for-sale. The fair value of the bonds at December 31 of each year-end is as follows. 2017 $320,500 2020 $310,000 2018 $309,000 2021 $300,000 2019 $308,000 Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2017. (c) Prepare the journal entry to record the recognition of fair value for 2018.
E17-3 (LO1) (Entries for Held-to-Maturity Securities) On January 1, 2017, Hi and Lois Company purchased 12% bonds having a maturity value of $300,000 for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable on January 1 of each year. Hi and Lois Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare a bond amortization schedule. (c) Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017. (d) Prepare the journal entry to record the interest revenue and the amortization at December 31, 2018.
Business
1 answer:
Alex_Xolod [135]3 years ago
6 0

Answer:yup

Explanation:

Yup

You might be interested in
For each of the following service departments, select the activity base listed that is most appropriate for charging service exp
garik1379 [7]

Answer:

a. Accounts Receivable - Number of sales invoices

b. Central Purchasing - Number of purchase requisitions

c. Computer Support - Number of computers

d. Conferences - Number of conference attendees

e. Employee Travel - Number of travel claims

f. Payroll Accounting - Number of payroll checks

g. Telecommunications - Number of cell phone minutes used

h. Training - Number of employees trained.

Explanation:

a. Accounts Receivable - Number of sales invoices

Accounts receivable occur due to credit sales, and therefore for the Activity base of this we use number of sales invoices.

b. Central Purchasing - Number of purchase requisitions

Purchasing is based on number of requisitions issued for purchase, as before purchasing any material requisitions are raised.

c. Computer Support - Number of computers

Computer support services are based on number of computers through which the service is provided and to be allocated between them.

d. Conferences - Number of conference attendees

The expense of conference shall be divided based on number of attendees for the conference as this is based on the number of personnel attending the conference.

e. Employee Travel - Number of travel claims

Employee travel is such expense that is based on number of employees claiming the travel as this is only to be allocated between employees claiming the travel expense and not all the employees.

g. Telecommunications - Number of cell phone minutes used

The telecommunication expense shall be based on the activity of cell phone minutes usage, as this is the most appropriate activity.

h. Training - Number of employees trained

The training expense is to be allocated based on number of employees trained, as this is not be allocated to employees which required no training.

3 0
3 years ago
What is a​ firm's gross​ profit? A. the difference between sales revenues and cash expenditures associated with those sales B. t
miv72 [106K]

Answer:

B. The difference between sales revenues and the costs associated with those sales

Explanation:

The amount of profit made by the company after deducting the total costs which have been incurred in the making and the selling of the product is said to be gross profit. The gross profit is calculated by subtracting the amount of revenue and the cost of the goods sold. Fixed cost is not included in the gross profit. It includes only variable costs.

7 0
3 years ago
The essential problem that money solves in an economy is: a. a lack of a double coincidence of wants in an economy based on bart
navik [9.2K]

Answer:D

Explanation:

4 0
3 years ago
Craig is a salesperson for an industrial equipment company. Craig calls on factories and spends most of his time talking with eq
julsineya [31]

Answer:

Identify managers and people with authority to decide the purchase.

Explanation:

When you work with an opportunity to sell an important part of your work, to be able to advance until closing, it is to be able to interview the person or people with the power to decide the purchase.

If you discover during your first interviews that the person with whom you initially contacted does not have the authority or influence over the purchase decision, then you need this person to promote your access to the person with the true power to decide. In many cases this is very easy to achieve, but in other cases, you will need to negotiate access to the sphere of power. The most powerful tool at your disposal to negotiate this access is to have created a vision of the solution to your problems in the mind of your interlocutor. Once you have created a vision of the solution, we can say that this person already has a clear idea about how to solve their problems and improve the current situation of the company. You must become a promoter of your solution within your company and serve as an engine to promote your offer in front of the decision group.

5 0
3 years ago
Why would you put money into a savings account
inn [45]

Answer:so u could have money for later

Explanation:

You would have money for later in a bank account so u could use it for emergencies or any little special needs

8 0
3 years ago
Read 2 more answers
Other questions:
  • The 5.3 percent bond of Dominic Cyle Parts has a face value of $1,000, a maturity of 12 years, semiannual interest payments, and
    15·1 answer
  • Assume Hadley Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit Fir
    5·1 answer
  • According to the information provided in english 120, why might a subject encyclopedia be useful to start a research project?
    11·1 answer
  • Quake Inc., a software giant, outsources its customer relationship management amenity to Zeins Inc. The contract between the two
    5·1 answer
  • When denying a claim, what approach should you not use? Check all that apply. "
    10·1 answer
  • What role does utilityLOADING... play in the economic model of consumer​ behavior? When modeling consumer​ behavior, utility
    15·1 answer
  • If advertising makes consumers more loyal to particular brands, it could ________ the elasticity of demand and ________ the mark
    11·1 answer
  • Consolidated Freightways is financing a new truck with a loan of $60,000 to be repaid in six annual end-of-year installments of
    5·1 answer
  • an important feature of supply chain management is its application of sophisticated information technology that allows companies
    8·1 answer
  • An organization based within the eu wants to avoid many of the strict guidelines regarding the protection of data subjects. As t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!