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
Svetach [21]
3 years ago
9

The journal entry a company records for the issuance of bonds when the contract rate is greater than the market rate would be

Business
1 answer:
ahrayia [7]3 years ago
4 0

Answer:

C. debit cash, credit premium on bonds payable and bonds payable

Explanation:

Since the contract rate is greater than the market rate, the bond is issued at a premium. And, the journal entry is shown below:

Cash A/c Dr XXXXX

      To Premium on bonds payable A/c XXXXX

      To Bonds payable A/c XXXXX

(Being bond is issued at a premium is recorded)

When the bond is issued at a premium, we debited the cash account and credited the premium on bonds payable and bonds payable account

You might be interested in
Larkspur, Inc. issued $432,000, 7%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually on January 1. Larkspu
kirill [66]

Answer and Explanation:

The Journal entry to record the issuance of the bond is as follows:

Cash Dr  $449,280 ($432,000 × 1.04)

        To Bond payable $432,000

        To Premium on bond payable $17,280

(Being the issuance of the bond is recorded)

here the cash is debited as it increased the assets and credited the bond payable and the premium on bond payable as it also increased the liabilities

3 0
2 years ago
3. Based on sales, what products do customers want? How accurately did the
PilotLPTM [1.2K]

Answer: Market survey

Explanation:

One of the ways to determine what customers want is my doing s survey. A survey would guide you through what they want. One of the ways to do this survey to get accurate answers is through questionnaire's, questionnaire's could be sent through mobile or advert or mails, asking what exactly what the customers want, from the feedback, the owner can predict accurately.

5 0
2 years ago
Describe what an insurance company does and sells without using the word insurance
Crank
If something goes wrong, the company will make sure you're not completely screwed.
8 0
3 years ago
A real estate professional leased a building for 10 years at an annual rent of $48,000. She will receive a commission of 7.5% fo
Alex Ar [27]

Her gross income from this commission over the life of the lease is $28,560.

Commission for the first five years

Commission=5×(48,000× .075)

Commission=5×3600

Commission=$18,000

Commission for the next three years

Commission=3×(48,000 ×.05)

Commission=3×2,400

Commission=$7,200

Commission for the final two years

Commission=2×(48,000 ×.035)

Commission=2×1,680

Commission=$3,360

Gross income commission:

Gross income commission=$18,000+$7,200+$3,360

Gross income commission=$28,560

Inconclusion her gross income from this commission over the life of the lease is $28,560.

Learn more about gross income commission here:brainly.com/question/24825618

3 0
3 years ago
Fue la razón principal para que estalbra la Revolución​
levacccp [35]

Answer:

Explanation:

¿Cuáles fueron las principales causas de la Revolución Americana? La Revolución Americana fue causada principalmente por la oposición colonial a los intentos británicos de imponer un mayor control sobre las colonias y hacerles pagar a la corona por defenderlas durante la Guerra de Francia e India (1754-1763).

6 0
2 years ago
Other questions:
  • A business renders services to a client and issues a sales invoice. The amount will be collected from the customer at a later ti
    12·1 answer
  • Determine whether the following changes or events would shift the LRAS curve to the right, to the left, or not at all.A. A large
    12·1 answer
  • The internet enables people to make better economic decisions because they can do which of the following?
    15·2 answers
  • Three institutions that deal with human rights violations
    6·1 answer
  • Crane Company is contemplating the production and sale of a new widget. Projected sales are $375000 (or 75000 units) and desired
    12·1 answer
  • Williams Inc. is expected to pay a $5 dividend next year and that dividend is expected to grow at 2.5% every year thereafter. If
    11·1 answer
  • Providing training for unemployed individuals is primarily intended to reduce
    11·1 answer
  • Obama drives up​ miles-per-gallon requirements Emissions from all new vehicles must be cut from 354 grams to 250 grams. To meet
    11·1 answer
  • The approach to ethical behavior which proposes that actions and plans should be judged by their consequences, thus producing th
    9·1 answer
  • Explain other roles of quality circle as part of continuous improvement to process and systems​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!