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bonufazy [111]
3 years ago
8

Exercise 15-2 On January 1, 2017, Klosterman Company issued $420,000, 12%, 10-year bonds at face value. Interest is payable annu

ally on January 1. Prepare the journal entry to record the issuance of the bonds.
Business
1 answer:
Maslowich3 years ago
6 0

Answer:

The journal entry to record the bond issuance is shown below:

Explanation:

The journal entry to record the bond issuance is as:

Cash A/c.............................................Dr  $420,000

        Bonds Payable A/c......................Cr  $420,000

Being the bonds issued

As the bonds are issued by the company so cash is coming into the business, which is an asset and any increase in asset is debited. Therefore, the cash account is debited. And cash is received against the bonds payable, so the account of bonds payable is credited.

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The following data pertain to an investment proposal (Ignore income taxes.):
Viefleur [7K]

Answer:

The closest answer is option A,$7649

Explanation:

The net present value of the investment is the present value of annual cost savings minus the initial cost of investment.

present of cash flow=cash flow/(1+r)^n

r is the discount rate of 12%

n is the year the cash flow relates to ,for instance year zero for the initial investment

NPV=-$54,000+$16,000/(1+12%)^1+$16,000/(1+12%)^2+$16,000/(1+12%)^3+$16,000/(1+12%)^4+($16,000+$7,000)/(1+12%)^5=$ 7,648.41  

note that the project gives $7,000 in salvage value in year 5

4 0
3 years ago
Suppose there are five suppliers of ice cream in the town of Summerville. When the price of ice cream is $2 per scoop, Firm A is
victus00 [196]

Answer:

the market quantity supplied is less than 250 scoops when the price is $2 per scoop

Explanation:

When price is $2, the total quantity supplied = 20 + 50 + 35 + 100 + 40 = 245

At the price $2, the total quantity supplied is less than 245

3 0
3 years ago
Types of Control Systems Controlling is one of the basic functions of management. It is critical to an organization's effectiven
Annette [7]

Answer: Option D

Explanation: In simple words, controlling refers to the function of management in which manager sets the standards of performance, compares the performance with the standards and take corrective actions in case of any discrepancy.

Controlling helps the organisation to achieve its goals by making the employees working towards the same goal determined in the planning stage. Controlling sets the standards of performance for the employees which works as a guide in their job.

Hence the correct option is D.

5 0
3 years ago
Why is money management important? How would you rate your own money management?
sergey [27]

Answer:

because it has money

Explanation:

3 0
3 years ago
Read 2 more answers
For each transaction,
Misha Larkins [42]

Answer:

1) I used an excel spreadsheet

2) a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $7,000 in cash along with equipment having a $3,000 value.

Dr Cash 7,000

Dr Equipment 3,000

    Cr DeShawn Tyler, capital 10,000

b. On May 21, Elegant Lawns purchases office supplies on credit for $500.

Dr Office supplies 500

    Cr Accounts payable 500

c. On May 25, Elegant Lawns receives $4,000 cash for performing landscaping services.

Dr Cash 4,000

    Cr Landscaping Revenue 4,000

d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer.

Dr Cash 1,000

    Cr Unearned Landscaping Revenue 1,000

3)

Cash (101)

debit                    credit

7,000

4,000

<u>1,000                              </u>

12,000

Office Supplies (124)

debit                    credit

500

Equipment (167)

debit                    credit

3,000

Accounts Payable (201)

debit                    credit

                            500

Unearned Landscaping Revenue (236)

debit                    credit

                            1,000

D. Tyler, Capital (301)

debit                    credit

                            10,000

Landscaping Revenue (403)

debit                    credit

                            4,000

Download pdf
3 0
3 years ago
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