Answer:
9.14%
Explanation:
Calculation for YTM
First step is to use financial calculator to find the I which represent Interest rate
FV = 1,000
PMT= 1,000*8.4%/2= 42
N= 9years*2= 18
PV= -955
Hence,
I= 4.57%
Now let calculate YTM
YTM = 4.57%*2
YTM =9.14%
Therefore YTM will be 9.14%
Explanation:
The journal entries are as follows
On December 31, 2020
Cost of goods sold $24,650
To Allowance for reduction in inventory to NRV $24,650
(Being the cost of goods sold is recorded)
It is computed below:
= $379,880 - $355,230
= $24,650
On December 31, 2021
Allowance for reduction in inventory to NRV $3,640
To Cost of goods sold $3,640
(Being the allowance for reduction is recorded)
It is computed below:
= $24,650 - ($445,440 - $424,430)
= $24,650 - $21,010
= $3,640
Answer:
1/Oct : Cash (Dr.) $8,660
Accounts Receivable (Cr.) $8,660
10/Oct : Equipment & Supplies (Dr.) $9,660
Notes Payable (Cr.) $9,660
20/Oct : Accounts Receivable (Dr.) $2,640
Service Revenue (Cr.) $2,640
Explanation:
Debits $16,960
Cash 6,600
Accounts Receivable 1,840
Supplies 1,840
Equipment 4,660
Dividend 2,020
Credits : $16960
Accounts Payable 4,660
Notes Payable 9,660
Service Revenue 2,640
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The accountants who conducted the audit in the Rinetin Corporation who fail to discover the
falsification of the company's financial statements for the past
year because of their negligence will be held civilly liable under Section
11(a) of the Securities Act of 1933.