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Artyom0805 [142]
3 years ago
13

A company reported that its bonds with a par value of $50,000 and a carrying value of $59,000 are retired for $62,400 cash, resu

lting in a loss of $3,400. the amount to be reported under cash flows from financing activities is:
Business
1 answer:
oee [108]3 years ago
4 0

Answer:

The answer is ($62,400)

Explanation:

Cash flow only deals with cash. Statement of Cash flow is one of the three Financial statements and this records ONLY the cash that is coming in and out of the business

The company coughed out $62,400 cash. This is the money that will be recorded under cash flows from financing activities and not the $59,000.

So the narration will be:

Cash for retiring bonds.......($62,400)

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kvv77 [185]

Answer:

I cannot see the picture

Explanation:

sorey

8 0
3 years ago
The primary advantage of being a limited partner is:
notka56 [123]
<h2>Maximum loss limited to their capital investment</h2>

Explanation:

  • As an investor there is a possibility of both profit and loss. If it is sole proprietorship, the profit or loss will be put on the his / her shoulder.
  • In case of limited partner, the advantage is that if there is a loss occurred it will" limit to their capital investment".
  • He/she enjoys "protected investments"
  • There will not be any huge loss since the capital invested is limited.
  • "A company can have more than one limited partner"

7 0
3 years ago
Standard Bank gives John a substantial loan to purchase a new home. This credit transaction is governed by the Truth in Lending
netineya [11]

Answer: finance charge

Explanation: The True in Lending Act (TILA) of 1968 is a Untied States federal law that was created to promote informed customers credit, certain written disclosure be made known before a transaction be consummate.

The fee john is requested to pay by the TILA disclosure statement is the "finance charge ". Standard bank is give John loan and the transaction will be govern by the TILA.

6 0
3 years ago
A company has two products: A1 and B2. It uses activity-based costing and has prepared the following analysis showing budgeted c
Mila [183]

Answer:

$4.00

Explanation:

To calculate the approximate overhead cost per unit of product A1 under activity - based costing we have it as

Activity 1 allocated to Product B2 line we have as

$48,000 × 4,800/6,000

= $38,400

Activity 2 allocated to Product B2 line we have it as

= $63,000 × 4,760/7,000

= $42,840

Activity 3 allocated to Product B2 line we have it as

=$80,000 × 800/8,000

= $8,000

Total overhead allocated to Product B2 = $89,240

Overhead per unit of Product B2: $89,240/22,310 = $4.00

As our overhead unit of product

4 0
3 years ago
Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays $1,000 in advance o
KatRina [158]

Answer:

a. The Date on which Revenue was earned is April 2.

The Cash was received on March 3 and Revenue was earned on April 2 so no the earnings were not received on the same date the cash was received.

b. The date revenue was earned was February 28.

The Cash was received on the February 28 and the Services were given on the February 28. So yes the earnings occur the same date the cash was received.

Explanation:

a.

To understand this let us create a Journal Entry for the transaction on March 3 first:

Debit: Cash $1,000

Credit: Services Payable $1,000

To record cash earned from the services payable.

At this time Momentu Occasions have earned the Cash but it cannot be recorded as revenue as the services are still a liability which are yet to be given.

Now lets record the Journal Entry from April 2:

Debit: Services Payable $1,000

Credit: Service Revenue $1,000

To record Revenue earned.

Now the Services Payable account will be canceled out and the revenue entry will be generated. Hence we can come to conclusion and drive our answers from it;

b.

For Sophomore Class the Journal entry can be recorded as follows on the February 28:

Debit: Cash $4,100

Credit: Service Revenue $4,100

To record Service given at Cash.

4 0
3 years ago
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