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Black_prince [1.1K]
3 years ago
8

When an investor's accounting period ends on a date that does not coincide with an interest receipt date for bonds held as an in

vestment, the investor must:_______.
a. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date.
b. do nothing special and ignore the fact that the accounting period does not coincide with the bond's interest period.
c. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the total amount of interest to be received at the next interest receipt date.
d. notify the issuer and request that a special payment be made for the appropriate portion of the interest period.
Business
1 answer:
Serhud [2]3 years ago
5 0

Answer:

make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date.

Explanation:

Adjusting entries are used at the end of an accounting period to assign income and expenses that has accrued.

In this instance when the interest reciept day comes after accounting period we need to recognise the amount of interest earned so far.

The amount accrued since last interest payment date is calculated.

This amount has been earned so it should be recognised as revenue. To do this we debit interest receivable and credit interest revenue.

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Answer:

c. ribbon

Explanation:

Ribbons are command bars or toolbars which organize features of a program into series of tabs at the top of a window. Ribbons appear across the top of each page and display many of the most commonly-used tools, controls, and commands. Ribbons increase discoverability of features and functions of the programs.

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3 years ago
Lena Company has provided the following data (gnore income taxes); 2016 revenues were $77,000. 2016 expenses were $48,600. Divid
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Answer:

Option (b) is correct.

Explanation:

(a) Net Income:

= Revenues - Expenses

= $77,000 - $48,600

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(b) Retained earnings :

= Net Income - Dividend

= $ 28,400 - $7,700

= $20,700

(c) Stockholders' Equity:

= Total assets - Total Liabilities

= 185,000 - $105,000

= $80,000

Therefore, the retained earnings at December 31, 2016 were $20,700.

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3 years ago
What do consumers and business in the market economy seek to do ?
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6 0
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​ There has been a data breach at your business and the business has lost some customer data. It has led to angry customers who
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Answer:

activate the forensics analysis team and prepare documentation

Explanation:

A forensics analysis should be done to understate the cause of the data breach and examine properly how this happen then prepare a documentation that helps resolve this issue which will come with solution using the root cause analysis or fish borne diagram to dissect it visually

7 0
3 years ago
In 2017, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the
Tju [1.3M]

Answer:

Randa Merchandising, Inc.

1. Indication of where each of the following income-related items for this company appears on its 2017 income statement.

Income Statement

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3. Depreciation expense

4. Income taxes expense

5. Gain on state's condemnation of company property, net of tax

6. Gain on sale of wholesale business segment, net of tax

7. Loss from operating wholesale business segment, net of tax

8. Loss of assets from a meteor strike, net of tax

Explanation:

Randa's income statement is prepared using a step-by-step approach.  It starts with the net sales from which the cost of goods sold is deducted to arrive at the gross profit.  Thereafter, the operating expenses are deducted to obtain the operating income.  Based on this, income taxes are computed before arriving at the operating income after taxes.  And then, the extraordinary items are disclosed (net of taxes) before arriving at the net income.

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