Answer:
Dr Cash $208,000
Cr Bonds payable $200,000
Cr Premium on bonds payable $8,000
Explanation:
Preparation of the journal entry to record the sale of these bonds on June 1,
Based on the information given we were told that the company issues the amount of $200,000 at 104 which means the that the journal entry to record the sale of these bonds on June 1 will be:
Dr Cash $208,000
(2,000 × $104)
Cr Bonds payable $200,000
(2,000 × $100)
Cr Premium on bonds payable $8,000
(2,000 ×$4)
Note:-
$200,000/100 =$2,000
This document is known as Business plan. A business plan stands as a formal written document including the objectives of a business, the strategies for attaining those goals, and the time frame for the attainment of the goals.
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What is business? </h3>
Business exists as the activity of creating one's living or earning money by producing or buying and selling products. It stands also for "any activity or enterprise joined into for profit.".
A business exists described as an organization or enterprising entity encountered in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. Business classes range from limited liability businesses to sole proprietorships, corporations, and partnerships.
A business plan stands as a formal written document including the objectives of a business, the strategies for attaining those goals, and the time frame for the attainment of the goals. Good business plans should contain an executive resume and sections on products and services, marketing strategy and research, financial planning, and a budget.
A business plan stands as a very significant and strategic tool for entrepreneurs. A good business plan not only allows entrepreneurs to focus on the specific actions essential for them to create business concepts succeed, but it also enables them to achieve short-term and long-term purposes.
To learn more about Business refer to:
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Answer:
Annual withdraw= $143,023.66
Explanation:
Giving the following information:
Present value (PV)= $2,000,000
Number of periods (n)= 57
Interest rate (i)= 7% a year
<u>To calculate the annual withdrawal, we need to use the following formula:</u>
Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]
Annual withdraw= (2,000,000*0.07) / [1 - (1.07^-57)]
Annual withdraw= $143,023.66
