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m_a_m_a [10]
3 years ago
15

Under the original issue discount (OID) rules as applied to a three-year certificate of deposit:a. All of the income must be rec

ognized in the year of maturity by a cash basis taxpayer.b. The OID will be included in gross income for the year of purchase.c. The interest income will be the same each year.d. The interest income will be greater in the third year than in the first year.e. None of these is correct.
Business
1 answer:
storchak [24]3 years ago
7 0

Answer:

D. The interest income will be greater in the third year than in the first year.

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Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 4% charge on sales for using its c
eduard

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $6,240

Credit card expense A/c Dr $260            ($6,500 × 4%)

            To Sales A/c $6,500

(Being the deposit is recorded)

For recording the deposit, we debited the cash account, credit card expense and credited the sales account so that the proper posting can be done.

0 0
3 years ago
A 10-year semi-annual coupon bond with an $1000 par value pays an annual coupon rate of 6% and the market requires 8% APR. What
arlik [135]

Answer:

Coupon= $30 per period.

20 period for semi annual coupon payment.

28.148% discount rate

Explanation:

1.) Coupon rate * face value of bond = coupon

semi annual rate =6%/2=3%

Coupon= 1000 *3%= $30 per period.

2.) t= number of periods = years of maturity * coupon payment semi-annual

t= 10 * 2 = 20 periods.

3. Discount rate formula =C+[(F-P)/t] / (F+P/2)

where C=coupon payment annual

F= face value of security

P=price of security= 1000 *8%=80

t= years of maturity.

so we have⇒ 60+[(1000-80)/10]/(1000+80)/2

=152/540

=28.148%

4 0
3 years ago
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout th
Evgen [1.6K]

Answer:

51,000

Explanation:

Beginning WIP 0

Started into Production (60,000+15,000)

Total Units 75,000

Transferred Out (60,000 – 15,000)

= 45,000 = 45,000 equivalent conversion units

Ending WIP 15,000

= 15,000 * .4 = 6,000

45,000+6000 =51,000

Total Units 75,000 = 51,000 conversion total equivalent units

Therefore the equivalent units of production for conversion costs for the month of July is 51,000

7 0
3 years ago
The Federal Reserve System performs many functions, but its most important one is
oksian1 [2.3K]

Answer:

b. controlling the money supply.

Explanation:

The main function of the federal reserve is to control the money supply. This is accomplished through expansionary or contractionary monetary policies, in which the Federal Reserve influences the amount of economy in the economy by controlling its supply. An open marketing policy, ie selling and buying securities, for example, is used to control the amount of currency in the economy.

8 0
3 years ago
some of the ways that unfair and fraudulent practices can arise in financial transactions include ______________________________
iogann1982 [59]

Answer:

Corruption, bribery

Explanation:

Hope im correct

8 0
3 years ago
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