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BaLLatris [955]
3 years ago
15

Albright Company purchased as a long-term investment $500,000 of Benton Corporation 10-year, 9% bonds. Required: Present entries

to record the following selected transactions: Refer to the Chart of Accounts for exact wording of account titles. March 1 Purchased bonds at their face amount for $500,000. May 1 Sold half the bonds at 98 plus accrued interest of $3,750. The broker deducted $200 for brokerage fees and taxes, remitting the balance.
Business
1 answer:
katen-ka-za [31]3 years ago
5 0

Answer:

March 1, purchased securities from Benton Corporation:

Dr Investment in securities 500,000

    Cr Cash 500,000

May 1, sold half of securities plus accrued interest:

Dr Cash 248,550

Dr Loss on investment in securities 5,000

Dr Brokerage fees 200

    Cr Investment in securities 250,000

    Cr Interest revenue 3,750

Securities were sold at 98 or $250,000 x 98% = $245,000, which means that the company lost $5,000 with that investment.

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B. Customer Relationship Management (CRM).

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Therefore according to the given situation, the option B is correct

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Can robbery include fake money
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3 years ago
Compute the present value of $1,150 paid in three years using the following discount rates: 6 percent in the first year, 7 perce
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The present value is $938.82

Explanation:

Giving the following information:

Compute the present value of $1,150 paid in three years using the following discount rates: 6 percent in the first year, 7 percent in the second year, and 8 percent in the third year.

We need to discount the final value of $1,150 for each discount rate starting in year 3.

PV= FV/(1+i)^n

Year 3= 1,150/1.08= 1,064.81

Year 2= 1,064.81/1.07= 995.15

Year 1= 995.15/1.06= 938.82

The present value is $938.82

5 0
3 years ago
Herrod Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The
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The summary section of a business report appears at the bottom of the report.
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true

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