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zhuklara [117]
3 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]3 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

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Able, on behalf of Pix Corp., entered into a contract with Sky Corp., by which Sky agreed to sell computer equipment to Pix. Abl
Ludmilka [50]

Answer:

D) Pix must have knowledge of all material facts relating

Explanation:

If the contract is beneficial for Pix, then they will want to ratify it. Unless Sky is aware that Able was not authorized to sign contracts on behalf of Pix, they probably wouldn't even tell them about what really happened. Although, Pix will want to know all material facts relating to the contract at the time it is ratified in order to verify if it is really good for them.

7 0
2 years ago
Roth Service Co. experienced the following transactions for 2018, its first year of operations: Provided $80,000 of services on
Stels [109]

Answer and Explanation:

a. The preparation of income statement is shown below:-

                               Income Statement

Service revenue                               $80,000

operating expenses  

Salary expenses           $28,000

Uncollectible accounts

expense                        $3,273

Total operating expense                   $31,273

Net income                                         $48,727

Working Note :-

Days       Amount     Percentage     Allowance balance

Current   $16,800       0.01                  $168

0-30         $5,100        0.05                 $255

31-60       $4,000        0.10                  $400

61-90       $2,000        0.30                 $600

Over 90

days         $3,700       0.50                  $1,850

Total        $31,600                                $3,273

b. The computation of net realizable value of the accounts receivable is shown below:-

Net realizable value = Accounts receivable - Allowance for doubtful accounts

= ($80,000 - $48,400) - $3,273

= $31,600 - $3,273

= $28,327

4 0
2 years ago
The positive relationship between price and quantity supplied, other things being equal, is considered to be:________
Bas_tet [7]

Answer:

The answer is D.

Explanation:

The correct answer is D. universally true for all markets

Other things being equal, as the price of goods and services increase, producers/firms tend to produce more(this is the popular law od supply) inorder to take advantage of the high revenue.

Unlike demand, for supply, price and quantity supplied are directly related.

4 0
2 years ago
The process of improving the competencies, team member interaction, and overall team environment to enhance project performance
sweet-ann [11.9K]

The process of improving the competencies, team member interaction, and overall team environment to enhance project performance is known as developing Project Team.

Project performance control is the process of creating, implementing, and handling projects that make contributions to the performance of a business enterprise and its method. In place of specializing in project execution, mission overall performance management is ready for the bigger picture.

There are 5 key procedures worried in development and performance measurement: progress dimension making plans, performance size planning, development, and overall performance size execution, monitoring and management, and dimension closure.

A project performance domain is described as a set of related activities which might be crucial for the powerful shipping of challenge results.

Learn more about project performance here brainly.com/question/26402160

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4 0
2 years ago
You are tasked with generating twice the amount of qualified leads your company generated last quarter. With your company’s bott
Alexxx [7]

Answer:

b. You could increase the chances of your current traffic choosing to convert and move down your funnel

Explanation:

This has the ability over time to significantly lower the cost of acquiring a customer and to have a positive impact on your return on investment.

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