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erastovalidia [21]
3 years ago
10

Splish Brothers Inc. issues $4.8 million, 5-year, 7% bonds at 102, with interest payable on January 1. The straight-line method

is used to amortize bond premium. Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2017, assuming no previous accrual of interest.
Business
1 answer:
Radda [10]3 years ago
5 0

Answer and Explanation:

The Journal entries are shown below:-

Interest expense Dr, $316,800

Premium on bonds payable Dr, $19,200 ($96,000 ÷ 5)

            To Interest payable $336,000    ($4,800,000 × 7%)

(Being interest expense and bond premium amortization is recorded)

Here we debited the interest expenses and premium on bonds as it increased the expenses and we credited the interest payable as it also increased the liabilities

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The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The follo
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Answer:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

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The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

<u>Dividends  payable  a/c</u>

<u>Particulars           Amount                Particulars                    Amount</u>

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Melissa's characteristics that are not consistent with entrepreneurship is that Melissa tends to put things off until later.

<h3>What is entrepreneurship?</h3>

Entrepreneurship refers to the activity of setting up a business that takes financial risks in the hope of profit.

The missing options in the questions are

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Melissa is a very good middle manager. However, she has for a very long time wanted to open her own business. Melissa's characteristics that are not consistent with entrepreneurship are she tends to put things off until later.

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Learn more about Entrepreneurship here:

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