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UkoKoshka [18]
2 years ago
13

When a corporate employee takes up art out of self-interest and derives huge satisfaction while making a work of art, the corpor

ate employee is most likely stimulated by?
Business
1 answer:
Zepler [3.9K]2 years ago
8 0

The corporate employee is most likely to be stimulated by achievement. By taking up something has a hobby and being good at it and then earning some income off of it, he/she is achieving success from the talent they have learned. By being satisfied of her work and able to share it with others, she's achieving her goals and surpassing them.

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For the current year, a business has earned (but not recorded or received) $200 of interest from investments. Demonstrate the re
uysha [10]

Answer:

Explanation:

The adjusting journal entry is shown below:

Interest receivable A/c Dr $200

    To Interest revenue A/c         $200

(Being the interest earned is recorded)

Since the interest would not be received but it is earned so we debited the interest receivable account and credited the interest revenue account.

The other accounts which are given in the brackets are wrong.

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How do I make ice cream
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3 years ago
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question 4 according to a forbes magazine study, the annual cost of cybercrime in the united states alone has reached how much?
jeka94

According to a forbes magazine study, the annual cost of cybercrime in the united states alone has reached about $100 million.

<h3>What is a cybercrime?</h3>

This refers to the use of computers or other electronic devices via information systems such as organizational networks or the Internet to facilitate illegal behaviors.

In 2021, the forbes magazine study shows that the annual cost of cybercrime in the united states alone has reached about $100 million.

Read more about cybercrime

brainly.com/question/17096364

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4 0
1 year ago
On August 1, 2021, Limbaugh Communications issued $30 million of 10% nonconvertible bonds at 104. The bonds are due on July 31,
kodGreya [7K]

Answer:

Answers are journal entries, in the explanation box

<h2>Explanation:</h2><h3><u>Bonds:</u></h3>

Bonds is an interest bearing security or long term promissory note that a company represents while borrowing money with the interested investors.

<h2><u>Requirement 1:</u></h2><h2><u>Prepare the journal entries on August 1, 2021, to record:</u></h2><h3><u>Requirement 1(a):</u></h3>

The issuance of the bonds by Limbaugh (L)

<u>Solution:</u>

<u>Following is the journal entry for the issuance of bonds on August 1, 2021:</u>

<u>1st August 2021:</u>

Debit: Cash  $31,200,000 <u>(Working 1)</u>

Debit: Discount on bonds payable  $3,600,000 <u>(Working 3: Note 1)</u>

Credit: Bonds payable  $30,000,000

Credit: Equity - stock warrants $4,800,000 <u>(Working 2)</u>

<u>Working 1:</u>

Calculation of cash received:

Cash received = Face value × Issued rate

Cash received = $30,000,000 × 104%

Cash received = $31,200,000

<u></u>

<u>Working 2:</u>

<u>Calculation of amount of equity - stock warrants:</u>

Equity - stock warrants = Market price per warrant × number of warrants × number of bonds

Equity - stock warrants = $8 × 20 warrants × (30,000,000÷ 1,000 bonds)

Equity - stock warrants = $4,800,000

<u>Working 3: </u>

<u>Calculate the discount on bonds payable:</u>

Discount on bonds payable = Bonds payable + Equity stock warrants - Cash received

Discount on bonds payable = $30,000,000 + $4,800,000 - $31,200,000

Discount on bonds payable = $3,600,000

<u>Note 1:</u> Since discount on bonds issues is an expense, therefore, it is debited.

<h3><u>Requirement: 1 (b)</u></h3>

<u>Prepare the journal entries on August 1, 2021, to record the investment by Interstate (I).</u>

<u></u>

The following is the journal entry on August 1, 2021 to record the investment by Interstate (I) i.e. investor:

Debit: Investment in stock $960,000 (Working 4)

Debit: Investment in bonds $6,000,000 (Working 5)

Credit: Discount on bonds investment $720,000 (Working 7)

Credit: Cash $6,240,000 (Working 6)

<u>Working 4: </u>

<u>Calculate the investment in stock warrants:</u>

Investment in stock warrant = Equity - stock warrant × 20%

Investment in stock warrant = $4,800,000 × 20%

Investment in stock warrant  = $960,000

Working 5:

Calculate the amount of investment in bonds:

Investment in bonds = Face value × 20%

Investment in bonds = $30,000,000 × 20%

Investment in bonds = $6,000,000

<u>Working 6:</u>

Calculate the amount of cash paid:

Cash paid = Face value × issued rate × 20%

Cash paid = $30,000,000 × 104% × 20%

Cash paid = $6,240,000

<u>Working 7:</u>

<u>Calculate discount on bond investment:</u>

Discount on bond investment = Investment in stock warrants + Investment in bonds - Cash paid

Discount on bond investment = $960,000 + $6,000,000 - $6,240,000

Discount on bond investment = $720,000

<h2><u>Requirement 2:</u></h2><h2><u>Prepare the journal entries for both Limbaugh and Interstate in February 2032, to record the exercise of the warrants.</u></h2>

<h3><u>Requirement 2(a)</u></h3>

<u>Prepare the journal entries for Limbaugh in February 2032, to record the exercise of the warrants.</u>

Solution:

Following is the journal entry for exercise of warrants by <u>Limbaugh</u>:

Debit: Cash: $7,200,000 (Working 8)

Debit: Equity - stock warrants $960,000 (Working 9)

Credit: Common stock - equity $8,160,000

<u>Working 8: </u>

<u>Amount of cash received from the exercise:</u>

Amount of cash received from the exercise = Exercise price per warrant × Number of warrants × Number of bonds × 20%

Amount of cash received from the exercise = $60 × 20 warrants × ($30,000,000/$1,000) × 20%

Amount of cash received from the exercise = $7,200,000

<u>Working 9:</u>

<u>Amount of equity - stock warrants from exercise:</u>

Equity - stock warrants = Total equity stock-warrants × 20%

Equity - stock warrants = $4,800,000 × 20%

Equity - stock warrants = $960,000

<u>Working 10:</u>

<u>Amount of common stock:</u>

Amount of common stock = Cash received + equity - stock warrants

Amount of common stock = $7,200,000 + $960,000

Amount of common stock = $8,160,000

<h3><u>Requirement 2(b)</u></h3>

<u>Prepare the journal entries for Interstate in February 2032, to record the exercise of the warrants.</u>

Solution:

The journal entry is as follows:

Debit: Investment in common stock: $8,160,000 (Working 13)

Credit: Investment in stock warrants: $960,000 (Working 11)

Credit: Cash: $7,200,000 (Working 12)

Working 11:

<u>Amount of equity - stock warrants from exercise:</u>

Equity - stock warrants = Total equity stock-warrants × 20%

Equity - stock warrants = $4,800,000 × 20%

Equity - stock warrants = $960,000

<u>Working 12:</u>

<u>Calculate the amount of cash paid for exercise:</u>

Amount of cash paid for the exercise = Exercise price per warrant × Number of warrants × Number of bonds × 20%

Amount of cash paid for the exercise = $60 × 20 warrants × ($30,000,000/$1,000) × 20%

Amount of cash paid for the exercise = $7,200,000

<u>Working 13:</u>

<u>Investment in common stock:</u>

<u>Amount of common stock:</u>

Investment in common stock = Cash paid + Investment in stock warrants

Investment in common stock = $7,200,000 + $960,000

Investment in common stock = $8,160,000

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What are the two types of discretionary fiscal policy
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Expansionary fiscal policy and contractionary fiscal policy
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