In general, education is correlated to income

Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31

Semenov [28]

Answer:

(DR) Cash $4,895,980; (CR) Bonds Payable $4,000,000; (CR) $895,980

Explanation:

The problem only requires the journal entry of the issuance of the bonds on January 1, 2016.

Simply debit "Cash" for the amount of the price which is $4,895,980.

Then ALWAYS credit "Bonds Payable" on its issued value of $4,000,000.

Now, since the cash price is greater than the issued value, the difference of $895,980 will be called as "Premium on Bonds Payable" and it will be credit.

So the entry would look like this:

(DR) Cash $4,895,980

(CR) Bonds Payable $4,000,000

(CR) Premium on Bonds Payable $895,980

4 0

4 years ago

Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed $

nordsb [41]

Answer:

Should Manny send his client the bill in December or January?

Send the bill in January because in cash method accounting recognized when payments are made.

In december he recognized only income because is in advance.

Explanation:

The cash method of accounting requires that sales be recognized when cash is received from a customer, and that expenses are recognized when payments are made to suppliers.

6 0

4 years ago

Seven potential customers are interested in seeing a movie. Since the marginal cost of admitting additional customers is zero, t

lesya692 [45]

Answer:

a) 6 dollar per ticked

b) from 25 to 35 the young adult will be charged with a higher price whilethe other groups, elderly, teenagers and children with a minimum price of 6

Explanation:

Erin $ 6 9

Grace $ 9 14

David $ 7 16

Charlie $ 6 45

Allison $ 8 66

Franco $ 10 28

Becky $ 11 34

a) the max revenue comes from charging 6 dollar per ticket:

7 people x 6 dollar = 42 dollars

if we charge more like seven dollar then, we lose two customer and we don't make up for that lose:

5 people x 7 dollars = 35 dollars

b) the young-adult group will be the target to price discrimination they will be charged with 10 dollars if the cinema could do it.

7 0

3 years ago

Cost of goods sold during the year was $183,000. During the year, merchandise inventory decreased by $8,000, prepaid expenses in

krok68 [10]

Answer:

The correct option is B

Explanation:

In this question, we are asked to calculate the cash payment to suppliers total.

To calculate this, we employ a mathematical approach.

Mathematically;

Cash Payment to supplier

= cost of goods sold - decrease in inventory +decrease in account payable

From the question, we identify;

Cost of goods sold = $183,000

Decrease in inventory =$8,000

Decrease in account payable =$4,000

Plugging these values in the equation, we have;

Cash payment to supplier = 183000 - 8000+4000

= $ 179000

6 0

4 years ago

Read 2 more answers

Help Need for a test

Debora [2.8K]

B. FDA (Food and Drug Administration)

8 0

3 years ago