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Stella [2.4K]
3 years ago
9

Metlock Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $76,700. Metlock determine

d that due to poor economic prospects for Schuyler, the bonds have decreased in value to $65,000. It is determined that this loss in value is uncollectible. Prepare the journal entry, if any, to record the reduction in value.
Business
1 answer:
horsena [70]3 years ago
7 0

Answer:

For recording the reduction in value the Journal entry is shown below:-

Explanation:

The Journal entry is shown below:-

Impairment Loss Dr,                             $11,70

        To Debt Investment                                $11,70

(Being the reduction in value is recorded)

Therefore, Impairment loss is an loss and we already know that all the expenses and losses are debited and investment is an asset that shows the decrements hence it is credited.

Working note :-

Impairment loss = Carrying value - Decrease in value

= $76,700 - $65,000

= $11,700

You might be interested in
U.S. exports create a:____.
alisha [4.7K]

Answer:

B) Supply of foreign currencies and a supply of dollars in the foreign exchange markets

Explanation: just search it up they don't demand for foreign currencies they supply of foreign currencies

5 0
3 years ago
Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1
Allisa [31]

Answer:

b. $103,345

Explanation:

Assets = Liabilities + Owner's Equity

Owner's Equity (Year 1) = $908,100 - $267,845

                                       = $640,255

Owner's Equity (Year 2) = $980,279 - $233,892

                                        = $746,387

increase in Owner's Equity = Owner's Equity (Year 2) - Owner's Equity (Year 1)  

                                             = $746,387 - $640,255

                                             = $106,132

Net income during Year 2 = Increase in Owner's Equity - Additional investment + Withdrawals

                                            = $106,132 - $28,658 + $25,871

                                            = $103,345

Therefore, the amount of net income during Year 2 is $103.345.

7 0
3 years ago
What are the issues of integrity, ethics and law posed in the case study? What options does the woman have, and what should she
Dovator [93]

The integrity, ethics, and law issues raised in the case study are illegal and unethical conduct.

The woman must reject the economic proposal made by the company and maintain her complaint so that the executive is judged for what she did because she would avoid future harm to other employees.

<h3>What is ethics?  </h3>

Ethics is a term that refers to moral philosophy. This focuses on the study of human behavior based on right and wrong according to duty. Contemporary ethics is usually divided into three branches which are:

  • Metaethics studies the origin, nature, and meaning of ethical concepts.
  • Normative ethics seeks norms or standards to regulate human conduct.
  • Applied ethics examines specific ethical controversies.

According to the above, it can be inferred that the situation presented is an example of an unethical and illegal act because the company and the executive want to bribe the employee to prevent the executive from being removed from his position and the company from being judged for endorsing that conduct of the executive.

Note: The question is incomplete because the information is missing. Here is the complete information:

Case study 4

A woman is sexually harassed by a top-level senior executive in a large company. She sues the company, and during settlement discussions she is offered an extremely large monetary settlement. In the agreement, the woman is required to confirm that the executive did nothing wrong, and after the agreement is signed the woman is prohibited from discussing anything about the incident publicly. Before the date scheduled to sign the settlement agreement, the woman's lawyer mentions that she has heard the executive has done this before, and the settlement amount is very large because the company probably had a legal obligation to dismiss the executive previously. The company however wants to keep the executive because he is a big money maker for the company.

What are the issues of integrity, ethics and law posed in the case study? What options does the woman have, and what should she do and why?

Lecturer Guidelines

Some of the issues raised by this case study include initial issues of unethical and unlawful conduct, by the executive and the company; whether the company should allow the executive to continue working because of the revenue he generates, in view of his propensity to harm co-workers, and whether this action is ethical or reflects integrity; whether the company should require the woman to state that the executive did nothing wrong as part of the settlement agreement; whether the woman should agree to this settlement in view of the harm future employees are being exposed to; and whether the woman is prioritising justice for herself over harm to future employees in an acceptable way.

Learn more about ethics in: brainly.com/question/2630782

3 0
2 years ago
The __________ is the difference between money flowing into a country from exports, and money leaving the country for imports, p
Anna35 [415]

Answer:

D. balance of trade

Explanation:

Based on the information provided within the question it can be said that the term being described in this scenario is called a balance of trade. like mentioned in the question this term refers to the difference between a nation's exports and it's imports, as well as various other forms of money flow into and outside the nation in question.

6 0
3 years ago
What is confidential information​
dem82 [27]

Answer:

Information that is top secret vip your eyes only

6 0
2 years ago
Read 2 more answers
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