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eduard
3 years ago
8

Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method

Business
1 answer:
babymother [125]3 years ago
7 0

Answer:

Smiley issued $20,000,000 of five-year, 9% bonds at a market (effective) interest rate of 8%, receiving cash of $20,811,010.

The journal entry is as follows:

On April 1,

Cash A/c    Dr. $20,811,010

      To Bonds payable A/c                    $20,000,000

      To Premium on bonds payable     $811,010

(To record the issuance of bonds)

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By wr
pashok25 [27]

Answer:

C. Liabilities

Explanation:

Financial accounting can be defined as the field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time.

Owner's equity is simply what a person owns outrightly and it is also referred to as net worth. It ​can be defined as the value of financial and non-financial assets owned by a person minus the total outstanding liabilities or debts of that person. Simply stated, owner's equity refers to the difference between the amount a person own (asset) and the amount owed (liability).

Mathematically, net worth is given by the formula;

Owner's \; equity = Total \; assets - Total \; liabilities

Making liabilities the subject of formula, we have;

Total \; liabilities = Total \; assets - Owner's \; equity

In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.

Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.

Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.

Hence, Assets minus Owner's Equity is equal to Liabilities.

5 0
3 years ago
Conductors are assigned a ? ampacity that reflects the insulation's ability to handle and dissipate heat under ? conditions.
givi [52]

Answer:

Specific; Varying

Explanation:

Conductors are assigned a <u>specific</u> ampacity that reflects the insulations ability to handle and dissipate heat under <u>varying</u> conditions. As the ampacity concerning a conductor is based on those physical as well as electrical properties of the element as well as the formulation of the conductor including its ambient temperature, insulation, and environmental conditions proximate toward the conductor as well.

6 0
3 years ago
What experience would least demonstrate to an employer that you have the skills to be an assistant to a newspaper reporter?
liberstina [14]
<span>Any sort of skill or experience that demonstrates talents, or lack thereof, that contradict the necessary skills and inclinations of a reporter. These would include illiteracy, disorganization, lack of curiosity, excessive shyness, failure to follow through or follow up, naivete or blind allegiance, and dishonesty.</span>
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3 years ago
20 pts.<br><br> When would it be better to use business emails?
pychu [463]
It would be better when doing business .
3 0
3 years ago
Read 2 more answers
Al Dente Pasta Company overstated its inventory by $10 million at the end of 2021. The discovery of this error during 2022, befo
MAXImum [283]

Answer:

Retained earnings would be debited and inventory would be credited for $10 million each.

Explanation:

In the given scenario Al Dente Pasta Company overstated its inventory by $10 million.

This is an overstatement of assets of the company.

This also gives an understatement of the retained earnings of the company.

Adjusting entry in 2022 will now require Retained earnings would be debited and inventory would be credited for $10 million each.

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3 years ago
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