Answer:
The appropriate journal entries to record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021 are:
White Water journal entries
1-Jan-21
Debit Cash $382,141
Credit Discount on Bonds Payable $27,859
($410,000-$382,141)
Credit Bonds payable $ 410,000
30-Jun
Debit Interest Expenses $ 15,286
($382,141 x 8%/2)
Debit Discount on Bonds Payable $736
Credit Cash $14,350
($410,000 x 7%/2)
31-Dec
Debit Interest Expenses $15,315.08
[($382,141 + 736) x 8%/2]
Credit Discount on Bonds Payable $965.08
($15,315.08-$14,350)
Credit Cash $14,350
($410,000 x 7%/2)
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Answer: A - Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.
1. If the daily aggregate cash transactions of an individual exceeds $10,000
2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.
3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported
0.08x+0.085 (10000-x)=842.50
Solve for x
X= 1500 invested at 8%
10000-1500=8,500 at 8.5%
Answer:
Explanation:
The adjusting entries are shown below:
1. Supplies Expense A/c Dr $3,000 ($2,000 + $4,500 - $3,500)
To Supplies A/c $3,000
(Being supplies purchased)
2. Insurance Expense A/c Dr $2,000
To Prepaid Insurance A/c $2,000
(Being prepaid insurance adjusted)
3. Salary expense A/c Dr $16,000
To salary payable A/c $16,000
(Being salary adjusted)
4. Unearned revenue A/c Dr $1,500
To Service revenue A/c $1,500
(Being unearned revenue adjusted)
