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
Latesha Moore has a choice at work between a traditional health insurance plan that pays 80 percent of the cost of doctor visits
Lelu [443]

Answer:

Consider the following calculation and analysis

Explanation:

We will analyse from cost perspective, the alternative with lower cost should be selected.

Total no. of doctor visit = 12 monthly visit + 3 times special visit = 15

Cost = 50 * 15 = $750

Under Traditional health checkup plan

Cost of plan = $ 250 + (20% of doctor visiting charges) = 250 + 20% of 750 = $400

Under HMO

Premium = 20 * 12 months = $240

Co payment = 10 * 15 = 150

Total = $ 390

There is a saving of $10 in HMO, so she should opt for this option. Moreover, the benefit of HMO would be the payments are monthly in small installments ,rather than a big outflow as in the case of traditonal plan.

6 0
3 years ago
Your uncle repays a $450 loan from Tenth National Bank (TNB) by writing a $450 check from his TNB checking account. Assume these
katrin [286]

Answer:

Uncle accounting:

         Cash              Note Payable        

DEBIT   CREDIT      DEBIT      CREDIT

             450             450

Bank Accounting

         Cash              Note Receivables

DEBIT   CREDIT      DEBIT      CREDIT

450                                              450

B.- False

Explanation:

The uncle will see a decrease in their assets (cash) and a decrease i ntheir liabilties(Note payable)

Therefore their net equity (wealth) will remain the same

The bank will record the collection from their client and decrease their receivables.

6 0
3 years ago
A $1,000 bond quoted at _____ would be purchased or sold at a discount.
Iteru [2.4K]
A $1000 bond quoted at 98 would be purchased or sold at a discount
6 0
2 years ago
Read 2 more answers
(01.02 mc) which of these actions was an economic cause of increased tensions between the north and south?
Damm [24]

The correct option is (b) Protective tariffs

Protective tariffs aim to make imported goods more expensive while protecting domestic producers from overseas rivalry.

<h3 /><h3>What is protective tarrifs?</h3>
  • An illustration of a protective tariff would be the US raising the customs charge on clothing imported from Britain so that it is significantly more expensive than clothing made domestically.
  • The importing countries profit the most from tariffs since they design the policy and receive the cash.
  • The main advantage of tariffs is that they generate income from imported products and services. Tariffs may also serve as a springboard for negotiations between two countries.
  • Protective tariffs are designed to shield vital American industries from international competition, stop foreign manufacturers from dumping inexpensive goods in the US, or both.

Learn more about the Tarrifs with the help of the given link:

brainly.com/question/11672570

#SPJ4

I understand that the question you are looking for is "Which of these actions was an economic cause of increased tensions between the North and South?

(a) Dred Scott decision

(b) Protective tariffs

(c) Bleeding Kansas

(d) Lincoln’s election"

6 0
1 year ago
On July 1, 20X4, Pillow Corp. obtained significant influence over Sleep Co. through the purchase of 3,000 shares of Sleep's 10,0
puteri [66]

Answer: $18,000

Explanation:

Income from investment is the percentage of the acquired company's income that the company that acquired it will report as their own based on their percentage of ownership.

By purchasing 3,000 shares out of 10,000, Pillow Corp owns;

= 3,000 / 10,000

= 30% of Sleep Co.

These shares were bough on July 1 so the relevant period will be half a year.

At the end of the year, Pillow Corp will report 30% of half of Sleep Co. income as income from investment for the year.

= 30% * 120,000 * 0.5

= $18,000

3 0
4 years ago
Other questions:
  • Erp is software designed for _____ and ______ business processes.
    7·1 answer
  • i. Lawyers are changing their pay structures. It used to be that they would bill hourly (top dollar for top lawyers, less experi
    6·1 answer
  • A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unproces
    12·1 answer
  • Dale City is accumulating financial resources that are legally restricted to payments of general long-term debt principal and in
    14·2 answers
  • Which best describes the effect of outsourcing on the labor market in the United States
    7·1 answer
  • Thomas is thinking about the car he wants to buy in a few years. He doesn't know what he should do right now so that he can buy
    9·2 answers
  • A company enters into a short futures contract to sell 25,000 units of a commodity for 950 cents per unit. The initial margin is
    11·1 answer
  • A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $185,000. The curr
    7·1 answer
  • If there are 25 number 05 buyers what will be market demand​
    12·1 answer
  • Developmentalists believe that life-span development is ______ because it consists of interactions of biological, cognitive, and
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!