1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhuklara [117]
4 years ago
10

On January 1, Creed Boxing Company issues 7%, 10-year bonds with a par value of $2,000,000. The bonds pay interest semiannually.

The market rate of interest is 8% and the bond selling price was $1,864,097. The bond issuance should be recorded as:___________
Business
1 answer:
Lelechka [254]4 years ago
6 0

Answer:

Debit Cash $1,864,097; debit Interest Expense $135,903; credit Bonds Payable $2,000,000.

Explanation:

Cash $1,864,097

Discount on Bonds Payable $135,903

      To Bonds Payable $2,000,000

(Being the issuance of the bond is recorded)

For recording this we debited the cash it increased the assets and the same time it also increased the liabilities so the bond payable is credited and the balancing figure is debited to discount on bond payable

You might be interested in
The following transactions occurred during July: received $900 cash for services provided to a customer during July. Issued comm
antiseptic1488 [7]

Answer:

revenue for july 1,275

Explanation:

We only have to compute the services performed in July

900 cash services july

375  credit services july

1,275

The received from sales in junes doesn't count.

Also doesn't count the advance payment for services at next year

8 0
4 years ago
Consider Frank’s decision to go to college. If he goes to college, he will spend $21,000 on tuition, $1,800 on books, and $11,
alex41 [277]

Answer:

b. $42,600

Explanation:

First, we calculate the total cost of college:

21000+1800+11000=33800

Now, we calculate the net income she would receive, if she didn't go to the college:

16000-7200=8800

Finally, the opportunity cost of going to college is the result of adding the total cost of college plus the net income that she would receive if she works instead of going to college.

33800+8800=42600

7 0
3 years ago
In the Shaping Department of Furs Industries the unit materials cost is $5.00 and the unitconversions cost is $3.00. The departm
swat32

Answer:

total value of ending WIP inventory:       8,400

Explanation:

unit material cost: 5.00 dollar

ending work in proces inventory

materials equivalent units:

1,500 x 100% = 1,500

as the mateirals are added entire at the beginning of the process:

material cost: 1,500 x 5 = 7,500

conversion

1,500 x 20% = 300

300 x 3.00 = 900

total value of ending WIP inventory:

materials 7,500

conversion 900

total        8,400

8 0
3 years ago
The general term for the payments for the use of resources is ______?
Zielflug [23.3K]
A. Wages is the general term for the payments for the use of resources
6 0
3 years ago
Upon review of the effectiveness of a strategic business decision using evidence-based analytics, business leaders may reverse c
zalisa [80]

Answer: c. The new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours

Explanation:

Upon review of the effectiveness of a strategic business decision using evidence-based analytics, business leaders may reverse course.

The factor that led to the reversal of the new scheduling system is that the new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours.

8 0
3 years ago
Other questions:
  • Our company is deciding whether to invest in a new machine. The new machine will increase cash flow by $324,000 per year. You be
    5·1 answer
  • Larry Mitchell invested part of his $ 35 comma 000$35,000 advance at 4 %4% annual simple interest and the rest at 9 %9% annual s
    13·1 answer
  • In four or five sentences, explain why you should research a potential employer before actively seeking employment.
    7·2 answers
  • Cullumber Company had these transactions during the current period:
    8·1 answer
  • A leader who manages through activities, using his legitimate, reward and coercive powers to give commands and exchange rewards
    12·1 answer
  • How is value added different from profit
    11·1 answer
  • When preparing an advertisement, an investment adviser whose principal business is rendering advice to customers about securitie
    10·1 answer
  • Alberton's supermarket prominently displays the prices of its brands side-by-side with prices you may pay at competing grocery s
    9·1 answer
  • Can somebody help me with my assignments
    6·1 answer
  • Jordan Baker, a top manager at Westinghouse, has recently been put in charge of a new multi-million dollar project. She selects
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!