Answer:
Mrs. Phillip, a retail buyer for Bloomingdale's, does all the shopping for her family at the same store.
Explanation:
The business market is the market where you can sell your product and services to the other businesses so it can be used as a raw material for the other business in order to manufacture the products. And, the other reason is to purchased the products and resell them.
So based on the given statements, the first option is considered as in the remaining statements there are business transactions but in this only one person i.e. retail buyer is considered
Answer:
$857
Explanation:
Price of the bond is the present value of all cash flows of the bond. These cash flows include the coupon payment and the maturity payment of the bond. Both of these cash flows discounted and added to calculate the value of the bond.
According to given data
Face value of the bond is $1,000
Coupon payment = C = $1,000 x 5.5% = $55 annually = $27.5 semiannually
Number of periods = n = (April 18, 2036 - April 18, 2020) years x 2 = 16 x 2 period = 32 periods
Market Rate = 7% annually = 3.5% semiannually
Price of the bond is calculated by following formula:
Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]
Price of the Bond = 27.5 x [ ( 1 - ( 1 + 3.5% )^-32 ) / 3.5% ] + [ $1,000 / ( 1 + 3.5% )^32 ]
Price of the Bond = $524.29 + $332.59 = $856.98 = $857
Answer:
See explanation Section
Explanation:
The journal entry to record the purchase of merchandise -
Merchandise Inventory Debit $300
Cash Credit $300
Note: As the perpetual inventory shows the running inventory of cost of goods available for sale. Therefore, every purchase of merchandise will directly debit the merchandise inventory and not the purchase account. Since the company paid immediately, cash decreased.
The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. This is an example of a deferral adjustment.
It is a deferral adjustment on account that a current asset had been used up, which means its miles deferred like supplies expenses are recorded on the year stop relying upon how much resources had been used in the course of the year.
Deferrals are adjusting entries for items bought earlier and used up in the destiny (deferred fees) or whilst coins are received in advance and earned inside the future (deferred sales).
The primary distinction between accrual and a deferral is that accrual is used to deliver forward an accounting transaction into the current period for recognition, whilst a deferral is used to put off such popularity until a later length.
Learn more about deferral adjustment here brainly.com/question/16967814
#SPJ4
Answer:
The interest expense of $59,463 must be recognize on its 2020 income statement.
Explanation:
With the given data make an amortization schedule
Hint : First determine the Future Value of the 5-year note
PV = $750,000
N = 5
Pmt = - $195,327
P/yr = 1
i = 9.5%
Fv = 0
<em>Input the elements in a Financial Calculator.</em>
2019
interest expense = $71,250
2020
interest expense = $59,463
Conclusion :
The interest expense of $59,463 must be recognize on its 2020 income statement.
