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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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lyudmila [28]

Answer: Option (iv) is correct.

Explanation:

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When a person quit his first job and looking for a new job, this is known as frictional unemployment.

So, option(iv) is correct.

5 0
3 years ago
Which of the following are criteria for determining whether to record an asset as a fixed asset? a.must be short-lived and tangi
Brut [27]

Answer:

The correct answer is letter "D": must be long-lived and used by the company in its normal operations.

Explanation:

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Examples of fixed assets include <em>buildings, factories, leasehold improvements, computers, electronic hardware, furniture, automobiles, </em>and <em>construction equipment.</em>

5 0
3 years ago
During a conversation with the credit manager, one of Tabor's sales representatives learns that a $1,234 receivable from a bankr
Natali5045456 [20]

Answer:

The answer is "No Effect ".

Explanation:

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8 0
3 years ago
Why would a business ower lower the price of a product
Ray Of Light [21]

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Explanation:

7 0
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Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. if they then still sel
Ierofanga [76]
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While nutrition information can shift consumers' preferences, we have no indication within the question of whether or not the students are well-informed of the impact of their drinking choices.

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