Shortening the repayment schedule is not typically involved in rescheduling activities of a troubled sovereign loan.
Governments of independent political entities can issue debt, typically in the form of securities, known as sovereign debt.
Unique risks associated with sovereign debt are not present in other forms of lending.
The creditworthiness of sovereign debtors and the securities they issue is frequently rated by a number of private agencies.
Economies and political systems that are stable are often seen as having better credit risks, enabling them to borrow on more favorable terms.
Governments incur sovereign debt through the issuance of bonds, notes, and other debt instruments as well as by the borrowing of funds from other nations and international institutions like the International Monetary Fund.
Foreign currencies as well as domestic ones may be used to pay off sovereign debt, which may be due to outsiders or to the nation's own population.
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Explanation:
The computation is shown below:
a. The current account balance equal to $44,400
b. The current account balance equal to
Since the company prepaid rent for two years is $44,400 but we have to compute four four months i.e from September 1 to December 31
We assume the books are closed on December 31
So, the current account balance is
= $44,400 - $7,400
= $37,000
The $7,400 is come from
= $44,400 × 4 months ÷ 24 months
= $7,400
c. And, the adjusting entry is
Rent expense A/c Dr $7,400
To Prepaid rent A/c $7,400
(Being rent expense is recorded)
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