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2 years ago

A tax year you choose, other than the calendar year, is known as a(n)

Business

2 answers:

Igoryamba2 years ago

7 0

A: Bonus year

Explanation: It is a because it all goes into where you picked the tax year ! Hope this worked

elena55 [62]2 years ago

4 0

Answer:

it is a. bonus year

Explanation:

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The Gorman Group issued $970,000 of 13% bonds on June 30, 2021, for $1,042,973. The bonds were dated on June 30 and mature on Ju

omeli [17]

Answer:

Entries are given below

Explanation:

Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis

June 30, 2021 ( issuance of bonds)

DEBIT CREDIT

Cash 1,042,973

Bonds payable 970,000

Premium on bonds payable 72,973

December 31, 2021 ( interest expense)

DEBIT CREDIT

Interest Expense 62,578

(1,042,973 x 12% x 6/12)

Premium on bonds payable 472

Cash 63,050

(970,000 x 13% x 6/12)

June 30, 2022 (interest expense)

DEBIT CREDIT

Interest Expense 62,550

(1,042,973-472) x 12% x 6/12)

Premium on bonds payable 500

Cash 63,050

(970,000 x 13% x 6/12)

5 0

2 years ago

A broker, acting as the agent of a seller, must deal honestly and fairly with whom? Group of answer choices

Doss [256]

Answer:

Everyone involved in the transaction

Explanation:

As an agent of the seller, the broker has a fiduciary duty with the seller (principal) to act of behalf of his/her best interest.

But the broker must also act honestly with the buyer, if the broker closes a deal using dishonest or unfair practices, e.g. forging documents, then the buyer might claim damages from both the broker and the seller.

And of course the broker should also make sure that his/her own rights are respected and his/her work is properly paid.

8 0

2 years ago

On January 1, 2021, Ozark Minerals issued $10 million of 9%, 10-year convertible bonds at 101. The bonds pay interest on June 30

joja [24]

Answer:

Upon issuance, Ozark should "<em>Credit premium on bonds payable $100,000</em>"

Explanation:

Issue price of bond is ($10 million * $101) = $10,100,000

The face value of the bond = $10,000,000

The premium on bond = $10,100,000 - $10,000,000

The premium on bond = $100,000

Journal entry

Debit Credit

Cash $10,100,000

Premium on bonds payable $100,000

Bonds payable $10,000,000

Conclusion: Upon issuance, Ozark should "Credit premium on bonds payable $100,000"

7 0

2 years ago

The real estate financing instrument which transfers equitable title to real property, but retains legal title in the seller, is

natita [175]

Answer:

Operating Leasing

Explanation:

Legal title is retained by the seller, buyer enjoys equitable title (during the lease contract duration) of the property (e. g. using land, leased buildings or machinery for the business needs),

7 0

2 years ago

Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends.

kirza4 [7]

Answer:

$10.08

Explanation:

First, find dividend per year;

D3 = 0.50

D4 = 0.50(1.35) = 0.675

D5 = 0.675 (1.35 ) = 0.9113

D6 = 0.9113 (1.07) = 0.9751

Next, find the present value of each dividend at 13% rate;

PV (of D3) = 0.50/(1.13^3) = 0.3465

PV (of D4) = 0.675/(1.13^4) = 0.4140

PV (of D5) = 0.9113/(1.13^5) = 0.4946

$PV (of D6) = \frac{\frac{0.9751}{0.13-0.07} }{1.13^{5} } \\ \\ = \frac{16.2517}{1.8424}$

PV (of D6 )= 8.8209

Add the PVs to find the stock price;

= 0.3465 + 0.4140 + 0.4946 + 8.8209

= $10.08

8 0

2 years ago