Answer:
Bond issue price $892,100
Face value $949,000
Discount on bond $56,900
Number of Interest payments (10 years x 2) 10
Discount to be amortized per payment $5,690
Interest on bond $51,210
Date Description Debit Credit
Dec. 31 Bond interest expense $56,900
Discount on bonds payable $5,690
Cash $51,210
(Interest on bond paid and Premium amortized)
<h2>The two of the following tips that are important to remember when writing a resume are: A) be clear and concise in the descriptions you use</h2><h2>D) use bullet points to organize your thoughts
</h2>
Explanation:
Our resume should be clear and concise. If the resume is longer than one page, the employer may not go through it. One page resume shows that you are concise, clear, and to the point.
There should be absolutely no typos as spell check doesn’t fix everything!.
Personal information should not be added in the resume like relationship status, age, siblings.
We can list all the jobs that a person had in the past to show our experiments in different fields but it should be something related to the new job.
It is necessary to use bullet points to organize all our thoughts properly.
Answer:
Momentous Occasions
a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue. This means that the recognition occurred on a separate date from when the cash was received.
b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received. This means that the recognition occurred on a separate date from when the cash was received.
Explanation:
Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.
Answer:
After tax cost of debt = 10.43%
Explanation:
Market price = 960
Flotation cost = 0.07
Market price after Flotation cost = 960*(1-0.07) = 960*0.93 = 892.8
Face value = 1,000
Interest payment (PMT) = 1000*0.07 = 70
Term of payment = 12*2 = 24
Cost of debt before tax = Rate(24, 70, -892.8, 1000, 0)*2
Cost of debt before tax = 0.080198497*2
Cost of debt before tax = 0.160396994
Cost of debt before tax = 16.04%
Tax rate = 35%
After tax cost of debt = 16.04% * (1-35%)
After tax cost of debt = 0.1604*0.65
After tax cost of debt = 0.10426
After tax cost of debt = 10.43%
