1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hoa [83]
3 years ago
10

On January 1, 2017, Hannigan Company issued bonds with a face value of $600,000. The bonds carry a stated interest of 7% payable

each January 1. 1. Prepare the journal entry for the issuance assuming the bonds are issued at 97. 2. Prepare the journal entry for the issuance assuming the bonds are issued at 102.
Business
1 answer:
mart [117]3 years ago
6 0

Answer:

Explanation:

The journal entries are shown below:

Cash A/c Dr $582,000            ($600,000 × 0.97)

Discount on Bonds Payable A/c Dr $18,000

       To Bonds payable A/c    $600,000

(Being the issuance of the bond is recorded and the remaining balance is debited to the discount on bond payable account)

Cash A/c Dr $612,000            ($600,000 × 1.02)

       To Bonds payable A/c    $600,000

       To Premium on bonds payable A/c $12,000

(Being the issuance of the bond is recorded and the remaining balance is credited to the premium on bond payable account)

You might be interested in
Katherine mailed Paul an offer with definite and certain terms and that was legal in all respects stating that it was good for10
jok3333 [9.3K]

Answer:

The correct answer is : Yes, the offer was revoked by Katherine.

Explanation:

Even if Paul replied Katherine with the acceptance to the first offer, he used a different means of communication to do that -<em>e-mail v. mail</em>. In addition, Katherine sent the revoke by mail -<em>as in the initial offer</em>- before Paul sent his e-mail. So, there is enough proof on Katherine's end that she didn't want to proceed with the offer before Paul confirmed his agreement on the terms. In that sense, Katherine did revoke the initial order.

5 0
3 years ago
Which of the following events would cause a rightward shift of the AD curvea rightward shift of the AD curve​, other things bein
Karolina [17]

Answer: C. There has been a decline in the foreign exchange value of the nation’s currency.

Explanation:

The Demand curve of a country can be written as an equation which is

C+I+G+(X-M)

C is consumption, I is investment, G is government expenditure, X is exports, M is imports and X-M is net exports.

When ever consumption, investment, government expenditure or net exports increase the demand curve shifts to the right and whenever they decrease the demand curve shifts to the left.

In this case when the value of the currency foreign exchange declines, the country reduce its imports because they are now more expensive as your currency's value is declining and the exports will increase because they will now be cheaper to foreign buyers as their currency is now gotten stronger. This decrease in imports and increase in exports will  increase net exports and an increase in net exports will shift the demand curve to the right

8 0
3 years ago
Borghia Pharmaceuticals has $1 million allocated for capital expenditures. a. Which of the following projects should the company
balu736 [363]

Answer:

Please refer below the answer in detail

Explanation:

a)

With a limited budget, the firm will first pursue projects with the highest return, and the allocate the remaining capital to the project with the second highest return, and so on until all capital is fully allocated. Based on the information, Project 6 has the highest return, followed by 1 and 3. These three projects together will cost:

350,000 + 300,000 + 250,000 = $900,000

After those three projects, the firm will have $100,000 left. The best out of remaining project is 7, but it costs 400,000, which the firm cannot afford. The best affordable project is 4, which offers a return of 12.1%. Hence, the firm should spend the remaining 100,000 on project 4.

b)

The budget limit constraints the firm to give up project 7, which offers a NPV of $48,000. The firm is forced to choose project 4, which has a NPV of $14,000.

Thus the lost in market value of the firm = 48,000 - 14,000 = $34,000.

4 0
2 years ago
In a class of 28 students,18 are in Math Club,15 are in Science Club and 8 are in English Club.There are 10 students in both Mat
ruslelena [56]
18 students belong in two clubs
8 0
3 years ago
Which of the following costs of publishing a book is a fixed cost?
Allisa [31]

Answer:

The correct answer is option d.

Explanation:

The fixed costs incurred in the production process of a good or service is the cost incurred on the fixed factors. These factors cannot be varied in the short run.  

Fixed cost does not depend on the level of output. It does not change with the change in the volume of output.  

In the given example, the cost incurred on the composition typesetting and jacket design for the book does not change with the volume of output. So these costs are the foxed cost involved in publishing a book.

8 0
3 years ago
Read 2 more answers
Other questions:
  • H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio
    10·1 answer
  • _____ integrates advertising of branded products into interactive games.
    5·1 answer
  • When purchases of tennis socks decline following an increase in the price of tennis sneakers (other things remaining equal), the
    12·1 answer
  • An investment will pay $202,000 at the end of next year for an investment of $182,000 at the start of the year. If the market in
    8·1 answer
  • Can yall plz follow me tik demon alchemist
    8·1 answer
  • Teams have better communication than other workers because they get to ______. a. Know each other better b. Attend communication
    9·2 answers
  • On January 1, 2013, Warfield Co. purchased a $600,000 machine, with a five-year useful life and no salvage value. The machine wa
    5·1 answer
  • Suppose that a demand curve exhibits two points. Initially, at price P 0 , the quantity demanded is Q 0 . When price changes to
    13·1 answer
  • Consider two neighboring island countries called Euphoria and Bellissima. They each have 4 million labor hours available per mon
    12·1 answer
  • How long does it take for an apartment application to be approved?.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!