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Nookie1986 [14]
3 years ago
10

On january 1, 2015, providence, inc., issues $1,000,000 of 10 percent, 5-year bonds at par value. complete the necessary journal

entry by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
Shkiper50 [21]3 years ago
5 0

On January 1, 2015, the date of issuance, the entry is:

2015

Jan 1

Cash                                         1,000,000  

                  Bonds Payable                                    1,000,000

On each January 1 for 5 years, beginning 2015 January 1 (ending 2020 January 1), the entry would be (Remember, calculate interest as Principal x Interest x Time):

Jan 1

Bond Interest Expense ($1,000,000 x 10% x 1)  100,000  

                  Cash                                                                               100,000

On January 1 (5 years later), the maturity date, the entry would include the last interest payment and the amount of the bond:

Jan 1

Bond Interest Expense ($1,000,000 x 10% x 1)  100,000    

Bonds Payable                                                  1,000,000  

                  Cash                                                                               1,100,000


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If during the process of negotiating a transaction a real estate licensee discourages a buyer from seeking legal advice on the g
KengaRu [80]

Answer: illegally

Explanation:

One of the requirements in real estate agency regulations is that every listing agreement should have an expiration date.

If during the process of negotiating a transaction a real estate licensee discourages a buyer from seeking legal advice on the grounds that the licensee will look into the problem, that licensee is acting illegally. The licensee has no right to discourage the buyer from seeking legal advice.

8 0
4 years ago
Estimate the effective annual rate (ear) for a continuously compounded annual nominal rate of 8.00%.
kirill115 [55]
The effective annual rate is 8.33%.
we can calculate the effective nominal annual rate by using this formula;
r = e∧i - 1
e is the constant = 2.718
i = compounded annual nominal rate = 8% = 0.08
r = 2.718∧ (0.08) - 1 
= 1.0833 - 1
= 0.0833 = 0.0833 x 100 = 8.33%
8 0
3 years ago
Coronado's Place recorded the following data:
Lorico [155]

Answer:

The weighted average unit cost of the inventory at January 31 is $496

Explanation:

Weighted Average unit cost the average cost of units on hand on each day. It is calculated by dividing total inventory value by total available units.

Date                    Unit Received / Sold  On Hand Unit     Cost   Balance

1/1       Inventory     540 units at $2.80          540             $1,512    $1,512

1/8      Purchased   960 units at $2.3           1500            $2208   $3,720

1/12      Sold            1,300 at ($3,720/1500)   200             $3,224   $496

4 0
3 years ago
An automobile factory in Michigan uses $100,000 worth of parts purchased from foreign countries along with U.S. inputs to produc
Gnom [1K]

Answer:

Total value added to the GDP is $500,000.

Explanation:

Given that,

Automobile factory uses parts that are purchased from foreign countries = $100,000

Total cars produce = 30

Price of each car = $20,000

Total cars sold = 20

Left in inventory = 10

Therefore,

Addition to GDP:

= Total value of car produced - Imports(parts purchased from foreign countries)

= (Selling price of each car × Total cars produced) - $100,000

= ($20,000 × 30) - $100,000

= $600,000 - $100,000

= $500,000

Hence, total value added to the GDP is $500,000.

5 0
4 years ago
Padco averages $15 million worth of inventory in all of its worldwide locations. they operate 51 weeks a year and each week aver
Zepler [3.9K]

Padco averages $15 million worth of inventory in all of its worldwide locations. they operate 51 weeks a year and each week averages $3 million in sales (at cost). their inventory turnover is 10.2 turns.

Inventory turnover is a financial ratio that demonstrates how frequently a company sells and replaces inventory over a specific time frame. The days it takes to sell the company's inventory on hand can then be determined by multiplying the number of days in the period by the inventory turnover formula.

Businesses can improve their decisions about pricing, production, marketing, and the acquisition of new inventory by calculating inventory turnover.

Inventory turnover quantifies how frequently a business can replenish the stocks it has sold during a specific time period. A slower ratio suggests either strong sales or insufficient inventory, while a quicker ratio suggests either weak sales or high sales.

The industries with the largest inventory turnover rates tend to be those with low margins and high volumes, like supermarkets and merchants.

Learn more about inventory turnover here:

brainly.com/question/1492106

#SPJ4

7 0
2 years ago
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