Answer:
Journal Entry
January 1
Dr. Cash $940,000
Dr. Discount on Account Receivable $60,000
Cr. Bond Payable Account $1,000,000
Explanation:
The difference between the face value of the bond and the sale value of the bond is known as premium or the discount on the bond. If the face value is higher from the sale value the bond is issued on the discount and if the sale value of the bond is higher than the face value the bond is issued on the premium.
Discount on the Bond = Face value - Sale value = $100,000 - $940,000 = $60,000
The discount amount will be recorded in Discount on Bond Payable Account and will be amortized over the 10 years until the maturity of the bond.
Management by objective.
This is a technique that uses a defined process to establish goals and measure results in the workplace.
Members should use the AICPA conceptual framework for independence to understand the rules on the confidential client information and acts discreditable to the profession.
Option C
Explanation:
Two conceptual frameworks, one each for participants in public accounting and one for participants in the sector, represent a major change to substance in the updated AICPA Code.
In all of these two implementation frameworks, the conceptual framework strategy is one way in which warnings to fully comply with rules arising from a specific connection or circumstance which are not covered by the code can be identified, assessed and addressed.
Answer: Option (b) is correct.
Explanation:
Correct option: Less money, so they lend more, and the interest rate falls.
When there is a decrease in the price level and other things remains constant, then as a result people are holding less money. This will increase the willingness of people to lend more, as a result there is a reduction in the interest rate. This fall in the interest rate will increase the money supply in the economy.
Credit score unions typically offer decreased fees, better savings quotes, and a more personalized approach to customer service for individuals. in addition, credit unions might also offer decreased hobby costs on loans. it can additionally be less complicated to attain a loan with a credit score union than with a bigger financial institution.
Less rigid eligibility requirements. lower interest fees. Deposits are insured in an identical manner as banks. more economic literacy sources.
A commercial business account permits less difficult rate monitoring and tax filing. enterprise money owed also lend credit union to your commercial enterprise, in view that carriers will obtain tests from the name of your enterprise, now not your private account. each of your non-public and commercial enterprise money owed may be controlled online via digital banking apps.
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