$42.25
- trade prices that are shown on the tape DO NOT include commission.
Answer:
1. Present value
2. Market
Explanation:
Neumann Corporation is planning to issues bonds with a face amount of $2 million. If Neumann's accountant, Betty, wants to calculate the expected issue she should calculate the present value of the related future cash payments using the market interest rate.
Answer:
Salaries and wages payable...................Dr $20,000
Salaries and wages expense $20,000
Explanation:
As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.
In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.
Adjusting Journal entry:
Particulars Debit Credit
Salaries and wages payable $20,000
Salaries and wages expense $20,000
(Being double counting of salaries and
wages expense rectified)
Answer:
B) $617,000
Explanation:
Issuance capital of 500,000 shall remain constant. Out of the current year net earnings 25000 we are paying 2000 as dividend so, that adds to the owners equity = 23000.
Total liabilities = total assets = 500000 + 23000 + 94000 = 617000
Answer:
The correct word for the blank space is: Revised Model Business Corporation Act.
Explanation:
The United States corporate laws are regulated by the Model Business Corporation Act (MBCA). The Act was born as a need for disambiguation of liabilities incurred by corporations where it was not clear if owners were personally liable for debts of the organization. Nowadays, the Revised Model Business Corporation Act (RMBCA) rules that concept and adopted some other features to bring clarity when it comes to corporate obligations.
