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Softa [21]
3 years ago
5

Prior to the receipt of the bond proceeds, Oxford needed funds and went to United Southern Bank to borrow $600,000 in bond antic

ipation notes (BANs), at 5 percent, which were to be paid back using the proceeds of the $2,500,000 bond issue. The entry at the government-wide level to record the receipt of the bond anticipation notes would include a: A. Credit to Other Financing Sources—proceeds of BANs, $600,000. B. Debit to Cash, $1,900,000. C. Credit to Bonds Payable, $600,000. D. Debit to Cash, $600,000.
Business
1 answer:
klemol [59]3 years ago
3 0

Answer:

D. Debit to Cash, $600,000.

Explanation:

The journal entry is shown below:

Cash Dr $600,000

    To Bond anticipated note payable $600,000

(Being the receipt of the bond is recorded)

For recording this we debited the cash as it increased the asset and credited the bond anticipated note payable as it also increased the liabilities so that the correct posting could be done  

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As little as _______ percent of privately owned 4es ever move from the start-up stage to the success stage.
Vinil7 [7]
<span>As little as (C) 2 percent of privately owned 4es ever move from the start-up stage to the success stage. Owning a start-up company is a tedious and challenging job. It takes a lot of responsibility towards making it a stable one and easily attack conflicts. It is a big risk, but the success of the risk will bring you to a higher level.</span>
6 0
3 years ago
Domestic producers experience limited import competition when a VER is in place. As a result, these producers make extra profit
GuDViN [60]

Answer:

Quota rent

Explanation:

When voluntary export restraints (VER) are set up and / or import quotas are enforced, the extra profit that domestic producers make because the supply is artificially limited is called quota rent. Quota rents are a type of economic inefficiency since they produce more losses than benefits. Society as a whole generally losses while a group of favored companies make huge profits.

For example, sugar imports are limited in the US, so domestic sugar producers are able to sell sugar at much higher prices than regular international prices. That artificial extra profit earned by sugar companies in the US can be classified as quota rent.

8 0
3 years ago
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
adoni [48]

Answer:

Production 830,000

Explanation:

$$Beginning Inventory + Purchase = Ending Inventory + COGS

- FG(units)

Beginning 31,000

Ending 81,000

Sales 780,000

Production 830,000

<em>sales + ending - beginning = production</em>

<em />

We are asked for the finished good units to produce.

The raw materials are irrelevant in this question.

4 0
3 years ago
Discuss ten (10) different purposes of an evaluation of salesperson performance and how each purpose affects the performance eva
ololo11 [35]

Answer:

1. To ensure that compensation and other reward disbursements are consistent with actual performance

2. To identify salespersons who needs to be promoted

3. To identify salespersons who should be fired/terminated

4. To determine the specific training and counseling needs of individual

5. To provide information for effective human resource (Succession) planning

6. To identify criteria that can be used to recruit and select salespersons in the future

7. To advise salespersons of work expectations

8. To motivate salespersons

9. To help salespersons set their career goals

10. To enhance effective communications between salesperson and sales manager

Explanation:

How each purpose affects the performance evaluation process

1. To ensure that compensation and other reward disbursements are consistent with actual performance

Compensation and rewards affects the performance and it should be on the merit.

2. To identify salespersons who needs to be promoted

Promotion shall be given on the basis of evaluation

3. To identify salespersons who should be fired/terminated

Termination should be on the basis of performance evaluation

4. To determine the specific training and counseling needs of individual

Training shall be provided on the basis of evaluation

5. To provide information for effective human resource (Succession) planning

Succession planning should be on the basis of performance evaluation so that the exceptional performers must be retained,

6. To identify criteria that can be used to recruit and select salespersons in the future

It helps in understanding the factors that will be useful to recruit and select salespersons

7. To advise salespersons of work expectations

On the basis of evaluation, it will be decided to communicate the work expectations

8. To motivate salespersons

It will help in understanding the factors which motivate the salespersons

9. To help salespersons set their career goals

Salespersons will understand about their future and set their career goals.

10. To enhance effective communications between salesperson and sales manager

It will help to communicate effectively about the expectations of  salesperson and sales manager  and better coordination

7 0
3 years ago
Sumitomo Bank, a large bank in southern California, has just purchased 120 high-speed telephone fax machines (costing about $1,3
Kruka [31]

Answer:

A) accessory equipment.

Explanation:

Accessory equipment is equipment that is fixed on a place or fixed to other equipment. If the accessory equipment is removed, the original equipment will continue to function as it did before.They must be depreciated since they cannot be expensed.

In this case, the fax machines work along side the telephones of Sumitomo bank and if removed, the telephones would still work. The IRS classifies fax machines as part of office furniture, fixture and equipment, and establishes a 7 year depreciation period.

7 0
3 years ago
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