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Phoenix [80]
3 years ago
7

Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and

interest is paid semiannually. The journal entry to record the purchase would be:_____.a. debit Investment-Evans Company Bonds, $100,000; credit Cash $100,000 b. debit Investment-Evans Company Bonds, $101,500; credit Cash, $101,500 c. debit Investment-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash $101,500 d. debit Investment-Evans Company Bonds, $100,000; credit Interest Revenue, $1,500, and Cash, $98,500
Business
1 answer:
Damm [24]3 years ago
3 0

Answer:

c. debit Investment-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash $101,500

Explanation:

c. debit Investment-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash $101,500

The interest is due on bonds of $ 100,00 so it is added to the total amount.

The other choices are incorrect as A does not account for interest due.

B does not indicate the amount of interest separately. D is wrong as interest is again deducted from the total of bonds also they are credited it is receivable not payable

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This question is ssssssssssssssssssssssss IDKKKKK
nexus9112 [7]

Answer:

IDKK EITHER OF WHAT YOU ARE ASKING IDK

Explanation:

I just got myself confused  XD

5 0
3 years ago
A rich singer has donated $450,846 to endow a university professorial chair in Bohemian Studies. If the money is invested at 12.
Sedaia [141]

Answer:

Annual withdrawal=  $57,032.02

Explanation:

Giving the following information:

Initial investment (PV)= $450,846

Interest rate (i)= 12.65%

<u>To calculate the annual withdrawal, we need to use the following formula:</u>

PV= Cf / i

Cf= annual cash flow

450,846= Cf / 0.1265

450,846*0.1265 = Cf

Cf= $57,032.02

7 0
3 years ago
A company has a processing department with 10 stations. Because of the nature and use of three of these stations, each is consid
julsineya [31]

Answer:

CC100  has $31.25 per hour

CC11O has $250 per hour

CC120 has $62.5 per hour

CC190 has $62.5 per hour

Explanation:

The IDC rate for each department would be the department IDC allocated divided by operating hours as shown below:

CC100

IDC rate=$25,000/800=$31.25 per hour

CC110

IDC rate=$50,000/200=$250 per hour

CC120

IDC rate=$75,000/1200=$62.5 per hour

CC190

IDC rate=$100,000/1600=$62.5 per hour

Judging from the IDC rates of the departments,department CCC110 seems to have the highest IDC rate per hour,which implies that each hour is charged with $250 against the CC100 where each operating hours is just $31.25.

The higher the IDC rate in a department the higher the cost of the output of that department since the cost has to be recovered from output.

7 0
3 years ago
At the equilibrium price, Multiple Choice there are forces that cause price to rise. quantity supplied may exceed quantity deman
Vilka [71]

Answer:

There are no pressures on price to either rise or fall.

Explanation:

Equilibrium price refers to the market price at which the amount of quantity supplied is exactly equal to the amount of quantity demanded. At this point, the market supply curve and the market demand curve intersect each other.

This price would be determined by the  market forces such as demand and supply of the goods.

8 0
2 years ago
Identify characteristics of a corporation. Andrea has prepared the following list of statements about corporations. 1. A corpora
Juliette [100K]

Answer:

1. True

2. True

3. False

4. True

5. False

6. False

7. False

8. False

9. True

10. False

Explanation:

1. True: A corporation is an entity separate and distinct from its owners.

2. True: As a legal entity, a corporation has most of the rights and privileges of a person.

3. False: Most of the largest U.S. corporations are privately held corporations. No, They're publicly held corporations.

4. True: Corporations may buy, own, and sell property; borrow money; enter into legally binding contracts; and sue and be sued.

5. False: The net income of a corporation is not taxed as a separate entity. Actually no, the net income of a corporation is taxed as a separate entity.

6. False: Creditors have a legal claim on the personal assets of the owners of a corporation if the corporation does not pay its debts. Creditors do not have any legal claim on the personal assets of the owners of a corporation, if the corporation does not pay its debts.

7. False: The transfer of stock from one owner to another requires the approval of either the corporation or other stockholders. The transfer of stock from one owner to another, is typically at the stockholder's discretion and so doesn't require the approval of either the corporation or other stockholders.

8. False: The board of directors of a corporation legally owns the corporation. The stockholders legally own the corporation and not the board of directors, whose duty is to only manage it.

9. True: The chief accounting officer of a corporation is the controller.

10. False: Corporations are subject to fewer state and federal regulations than partnerships or proprietorships. Actually not correct, as they're subject to more state and federal regulations than partnerships or proprietorships.

4 0
2 years ago
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