Answer:
O True
Explanation:
Amortization is the gradual reduction in a value or balance of anything over a specified period. Evenly over life amortization of loan is the distribution of outstanding amount over remaining life / period. in this example $20,000 is amortized over 60 months which is 20,000 / 60 = $333.33 per month. So the statement is True.
Answer and Explanation:
A bond premium which is payable on bond is amortized will be amortized with a charge to the premium and an a good representative for intrigue cost, lessening it. On the off chance that amortization isn't recorded, intrigue cost isn't appropriately decreased and is exaggerated. The exaggeration of intrigue cost will bring modest representation of the truth of net gain and a modest representation of the truth of value
Answer:
Dr Cash account 100
Cr Common Stock account 100
Explanation:
When a company sells stock they must record the value of the stock sold at par value in the common stock account. Any extra money received should go to the capital paid-in excess of par value account.
In this case, Niren sold 100 shares at par value ($1), so $100 should be recorded in the common stock account.