Answer:
The price of the bond will be $879
Explanation:
Price of the bond is the present value of all cash flows of the bond. Price of the bond is calculated by following formula:
According to given data
Coupon payment = C = $1,000 x 6.2 = $62 annually = $31 semiannually
Number of periods = n = 2 x 8 years = 16 periods
Current Yield = r = 8.3% / 2 = 4.15% semiannually
Price of the Bond = $31 x [ ( 1 - ( 1 + 4.15% )^-16 ) / 4.15% ] + [ $1,000 / ( 1 + 4.15% )^16 ]
Price of the Bond = $31 x [ ( 1 - ( 1 + 0.0415)^-16 ) / 0.0415 ] + [ $1,000 / ( 1 + 0.0415 )^16 ]
Price of the Bond = $31 x [ ( 1 - ( 1.0415)^-16 ) / 0.0415 ] + [ $1,000 / ( 1.0415 )^16 ]
Price of the Bond = $521.74 + $357.26 = $879
Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $1,239,000 (5,900 seasons × $210)
To Unearned basket ball tickets revenue $1,239,000
(Being the sale of the season tickets are recorded)
b. Unearned basket ball tickets revenue $103,250 ($1,239,000 ÷ 12)
To basket ball tickets revenue $103,250
(Being the revenue recognized)
Answer:
1153.85 per week and 28.85 per hour
Explanation:
Answer:
$27,333.33
Explanation:
The computation of the amount of income reported is shown below:
= Provided services to the customer + Payment received × number of months ÷ given number of months
= $25,000 + $12,000 × 7 months ÷ 36 months
= $25,000 + $2,333.33
= $27,333.33
The seven months is calculated from the June 1 to December 31. We assume the books are closed on December 31
Accounts payable - <u>Accurately tracking what's owed to suppliers, ensuring payments are properly approved and processing </u><u>payments</u><u>.</u>
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Accounts receivable - <u>The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.</u>
