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konstantin123 [22]
3 years ago
7

The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 12.25% bonds having a face amount of

$90 million. The bonds had been issued in 2010 and had a remaining discount of $3 million at December 31, 2017. On January 1, 2018, Indian River Electronics called the bonds before their scheduled maturity at the call price of 102. Required: Prepare the journal entry by Indian Rive
Business
1 answer:
qwelly [4]3 years ago
4 0

Answer:

Dr Bonds payable                     $90,000,000

Dr Loss on bond redemption   $4,800,000

Cr Bank                                                                $91,800,000

Cr Bond discount                                                  $3000,000

Explanation:

Upon redemption of the bond,the bond payable is debited with the face value of the bond of $90 million,discount account is credited with $3 million and payment made is credited to bank at $91.8 million($90 m*$102/$100).Hence the balancing figure is loss incurred from redeeming the bond prematurely.

The bond payable was credited early when the bond was issued to show an obligation of $90 million was owed to bondholders,hence upon repayment, the same account is debited to signify the discharge of the obligation.

Also,the bank account is credited since the organization parted with the sum of $91.8 million, a reduction in asset.

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Throughout human history we know that Group of answer choices all countries will eventually return to very low levels of real GD
kkurt [141]

Answer:

not until the early 19th century were a few countries able to establish sustained long-run economic growth.

Explanation:

Industrial revolution (industrialization) can be defined as a period of significant change in economic and social manufacturing process characterized by the use of handicrafts and agrarian methods to the use of power-driven equipments and machines. Basically, the industrial revolution began in Great Britain (England) between 1760 to 1840 and eventually spread across other countries of the world.

Prior to industrialization, humans and animals were largely used as a means to generate power, execute tasks or do certain things during the production and distribution process.

However, in the advent of industrialization and technological advancement, machines were invented to replace human and animal power.

Some examples of such inanimate sources are Steam plants, Nuclear plants, Wind etc.

In human history, we know that not until the early 19th century were a few countries able to establish sustained long-run economic growth.

3 0
2 years ago
Tigger was terminated from the local ice cream shop as the staff manager. He did not manage by example including being rude to c
Lisa [10]

He failed at Human Resources functional area of management

Let understand that the functional area of management is the section of management of a firm which ensures that the important business activities are carried out efficiently.

The functional area of management is distinctively categorized into 6 part and they includes:

  1. Strategic area of management
  2. Marketing area of management
  3. Finance area of management
  4. Human resources area of management
  5. Technology & equipment area of management
  6. Operations area of management

In conclusion, the area that Tigger failed at is the Human Resources area because he need to serves as a good example for his Subordinate as well as effectively manage them, whereas, he failed at it.

Learn more about functional area of management here

<em>brainly.com/question/14594002</em>

6 0
3 years ago
on january 1, 2024, howell enterprises purchases a building for $151,000, paying $41,000 down and borrowing the remaining $110,0
sashaice [31]

The transactions would debit the mortgage payment of $635.52, credit the cash account with $1,277.19, and credit the interest charge of $641.67.

<h3>A mortgage is what?</h3>

Although some lenders provide 20-year periods and others even let borrowers choose their own length, most fixed-rate mortgages have a 30-year or 15-year term. Before committing to a mortgage, homebuyers should take all available home loan options into account.

Payable Dr. Mortgage: $635.52

Dr interest expenditure $641.67 Cr cash $1,277.19

The initial payment made on the mortgage is $1,277.19, which may be divided into the principal repayment of $110,000 and the interest on the mortgage.

interest for the first month equals $110,000 * 7% * 1/12 = $641.67

Usually, the payment made consists of $635.52 ($1,277.19-$641.67) for the principal payments and $641.67 for the interest.

The entries would credit cash with $1,277.19, debit mortgage payment with $635.52, and debit interest charge with $641.67.

To learn more about mortgage payment refer to

brainly.com/question/28146849

#SPJ4

7 0
1 year ago
How can cybercriminals harm a person whose personal information they have stolen?
Leokris [45]
When a person obtains someone else's personal information, these are some thing that could potentially happen that would harm the person whose identity has been stolen: Open new lines of credit (can harm your credit and incur debt). Seek medical attention (could be harmful by getting incorrect medical information on your record, or incurring debt). Drain savings and retirement accounts Provide an alias when arrested (harmful if the cops look for you when the other person runs, or if the other person uses your information to pay bail. Get a job and file false tax returns (could be harmful when the IRS sees the records and <span>thinks that you are not paying taxes on all of your income).</span>
3 0
3 years ago
Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situatio
andrew11 [14]

Answer:

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situation in which a shortage led to increased prices. what eventually happened in each case? why?

In the course of having surplus of a product which decreases the price, this happens as a result of high competition as there many people selling the same products which in turns leads to crash in price in order to make sales and little profit.

while product shortage or scarcity happens as a result of decrease in resources or decrease in supply, hence; results into scarcity of products which eventually aids increment of price

Explanation:

3 0
3 years ago
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