1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Scorpion4ik [409]
3 years ago
14

On January 1, 2019, Lynch Company acquired 13% bonds with a face value of $50,000. The bonds pay interest on June 30 and Decembe

r 31 and mature on December 31, 2021. Lynch paid $51,229.35, a price that yields a 12% effective annual interest rate. Required: 1. Record the purchase of the bonds. 2. Prepare an investment interest income and premium amortization schedule using the effective interest method. 3. Record the receipts of interest on June 30, 2019, and December 31, 2021.
Business
1 answer:
My name is Ann [436]3 years ago
5 0

Answer:

1) CR Cash/Bank $51,229.35 , DR Bonds Receivable Account $50,000 and DR Premium on Bond Payable Account.

(2) Please see attached for Investment Interest Income Amortization Schedule

(3) Recording of Interest Received

June 30, 2019

CR Income statement (Interest Received) -$3,000, CR Premium on Bond Receivable $250

December 31, 2021

CR Income Statement (Interest Received) -$2915.44

Explanation:

(1) CR Cash/Bank $51,229.35 , DR Bonds Receivable Account $50,000 and DR Premium on Bond Payable Account.

(2) Please see attached for Investment Interest Income Amortization Schedule

(3) Recording of Interest Received

June 30, 2019

CR Income statement (Interest Received) -$3,000, CR Premium on Bond Receivable $250

December 31, 2021

CR Income Statement (Interest Received) -$2915.44

Download xlsx
You might be interested in
State any five reasons why an entrepreneur may carryout Market survey.​
swat32

Answer:

to know what the other people are interested in, for example they do a survey to see how much of each product they need and the popularity of how many people like the stuff, those are 2 reasons, quantity and I would say popularity 3: get the people to know that enreprenuer cares 4 and five just think about it, I cant really think of anymore

Explanation:

6 0
3 years ago
Read 2 more answers
What aspect of project management was omitted from the PMI definition that is included in the definition proposed by Meredith an
Illusion [34]

Answer:

Fulfilling client expectations

Explanation:

Fulfilling client's expectations is one of the potent ways an organization can achieve its long term corporate objective. If I were on the PMI decision making body, I would not have outrightly voted for its inclusion. What I will do, however, is to:

1. fully gain an understanding of best practices and procedures that could be applied to achieve the client's expectations.

2. Prototype such procedures, practices and processes and assess its impact on the long term corporate objective.

3. The results from the foregoing will inform my decision.

6 0
3 years ago
John has been working as a tutor for $300 a semester. When the university raises the price it pays tutors to $400, Jasmine enter
Elza [17]

Answer:

b. between $100 and $200

Explanation:

Producer surplus: The producer surplus is a difference between the willing price declared by the producers and the price the producers receives for supplying the goods and services.

In mathematically,

Producer surplus = Willing price - Receiving price

                            = $400 - $300

                            = $100

4 0
3 years ago
A work breakdown structure must be decomposed at least four levels in order to be effective. true false
Eddi Din [679]

A work breakdown structure must be decomposed at least four levels in order to be effective- FALSE

   By adopting task breaking, a popular productivity technique, workload can be made more reasonable and approachable. The instrument used to apply this method to projects is the Work Breakdown Structure (WBS), one of the important project management papers. To ensure that project plans are in sync, it does it on its own by combining size, cost, and schedule baselines.

A  Work Breakdown structure is used to graphically, hierarchically, and deliverable-focused decompose a project (WBS). Project managers can use it to break down the focus of their operations and view all the tasks required to complete them, making it a helpful diagram.

To learn more about Work Breakdown structure click here:

brainly.com/question/5775960

#SPJ4

4 0
1 year ago
Difference between relevant information and additional information​
dybincka [34]

Answer: Relevant information is information that is important or needed in order to understand the topic in a given passage. Additional information is information that is not needed or unnecessary in the paragraph (it is extra information).

Explanation:

7 0
3 years ago
Other questions:
  • How to make a peanut butter and jelly sandwich essay?
    6·1 answer
  • The Jewel Golf Club Company, which recently began using a kanban system, has had problems with high inventory levels of one of t
    9·1 answer
  • Explain three ways you can get home safely if the friend you rode with has drugs or alcohol in his or her system and you prevent
    8·1 answer
  • Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $11,000. If the
    14·1 answer
  • Jackson Manufacturing Company had a beginning inventory of $23,000. During the year, the company recorded inventory purchases of
    5·1 answer
  • You purchase a bond with an clean price of $1,129. The bond has a coupon rate of 10 percent, and there are 4 months to the next
    5·1 answer
  • PLEASE HELP ME :(
    8·1 answer
  • What is a disadvantage about buying a home?
    14·2 answers
  • There can be many departments or just a few when _____ a business.
    5·2 answers
  • If the demand for product x is inelastic, a 4 percent decrease in the price of x will.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!