Answer and Explanation:
The Journal entry to record the issuance of the bond is as follows:
Cash Dr $449,280 ($432,000 × 1.04)
To Bond payable $432,000
To Premium on bond payable $17,280
(Being the issuance of the bond is recorded)
here the cash is debited as it increased the assets and credited the bond payable and the premium on bond payable as it also increased the liabilities
Answer:
1. Reputation.
Apple and IBM are big companies which is why their reputation was able to survive the bribery charges. You are most likely not as big as either of these companies so if you are charged with bribery, your reputation might not be able to recover like theirs did.
It is always best to be associated with a good reputation. A good reputation gives you customers who will be loyal because they appreciate the integrity you have. You should not throw this away by bribing people.
2. Consequences.
It is because Apple and IBM are so big that they were able to settle the bribery charge with the Courts. Smaller companies or people that have lesser effects on the financial system might find that their punishments will be more severe to act as a deterrent.
Answer:
D) Only $7,000 of the office expenses can be deducted; the remaining $1,000 can be carried forward to future tax years.
Explanation:
Since Gene's profit before home expenses is only $7,000, he can only deduct up to $7,000 for this year. That way his net profit will be $0. The remaining $1,000 must be carried forward so that he can use them in the future, probably next year he will add them to his deductions. If a business losses money, the government pay you anything, taxes only work one way, you have to pay.
Answer:
1. Overtime rate is $20.175
2. Total earnings are $699.4
Explanation:
1. OT rate - Overtime is typically paid at a rate of 1.5 times the normal hourly rate
OT rate = 1.5 x $13.45
OT rate = $20.175
2. Total earnings for John Porter
Sunday trip = $20.175 x 3 hours =+$60.525
Week normal hours = $13.45 x 40 hours = +$538
Training session = $20.175 x 5 hours = +<u>$100.875</u>
Total earnings <u>$699.4</u>
