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viktelen [127]
3 years ago
14

PLEASE HELP ME!!

Business
2 answers:
dimaraw [331]3 years ago
8 0
I'm almost 100% positive the answer is C.
MaRussiya [10]3 years ago
8 0

I am 100% sure the correct answer is D. Your price can't be more than customers are willing to pay.

Just took the test and got it right

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On August 1, 2009 a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest,
Leya [2.2K]

Answer:

discount on BP   8,000 debit

cash                592,000 debit

bond payable                       600,000 credit

-to record issuance of the bonds--

interest expense     15,416.67 debit

  interest payable                     15,000      credit

  discount on BP                           416.67 credit

--to record year-end adjustment entry--

interest payable   15,000      debit

interest expense   3,083.33 debit

  cash                                       18,000    credit

  Discount on BP                         416.67 credit

-to record first interest payment to bondholders--

Explanation:

proceeds from the bonds:  592,000

face value of the bonds.    (600,000)

discount on BP                        (8,000)

We amortize over the life of the bond in equal parts:

8,000 / 20 payment (10years x 2 payment per year) = 500

interest accrued from August 1st to December 31th:

face value x rate x time accrued

600,000 x 6% x 5/12 = 15,000

accrued proportional amortization

amortizationfor 6 months x accrued month

from Augsut 1st to December 31th

500 x 5/6 = 416.67

February 1st payment:

600,000 x 6% x 1/12 = 3,000 interest expense

cash outlay:

600,000 x 6% x 6/12 = 18,000

amortization 500 - 416.67 = 83.33

8 0
2 years ago
In fiscal 2016, Microsoft Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The 2016 in
almond37 [142]

Answer:

B. $19,687 mil

Explanation:

The statutory tax rate is the percentage imposed by law; the effective tax rate is the percentage of income actually paid by an individual or a company after taking into account tax breaks (including loopholes, deductions, exemptions, credits, and preferential rates).

Now, in our question, statutory tax rate is 35%, but effective tax rate is 15%. This implies, with the help of tax breaks or loopholes, company managed to pay only 15% of its income as taxes.

This 15% of income = $2,953 mil

Hence, pretax income = 2,953/15% = $19,686.67 mil = $19,687 mil

8 0
3 years ago
During the recent​ recession, several European countries proposed austerity measures that would help shrink the size of the nati
antiseptic1488 [7]

Answer: Option A

Explanation:

In Europe during the recession the policy rate of the banks like LIBOR and EURIBOR etc were already very close to zero so unlike United states of america they were not able to decrease the rate further. The monetary policy of Europian banks and authorities saw a major failure in that period.

7 0
3 years ago
The following errors took place in journalizing and posting transactions:
yuradex [85]

Answer:

<u>Journal 1</u>

Debit : Prepaid Expense $37,600

Credit : Cash $18,800

Credit : Insurance Expense $18,800

<u>Journal 2</u>

Debit : Dividends $18,000

Credit : Wages $18,000

Explanation:

Journal 1

The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.

Journal 2

The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.

6 0
3 years ago
The two most common forms of primary research are​ ________.
cricket20 [7]
Surveys and Interviews. Hope this helps
8 0
3 years ago
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