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Nata [24]
3 years ago
14

Transanomics Corp recently issued at par value 5-year bonds with a par value of $500,000, dated January 1, 2015 and bearing an i

nterest at an annual rate of 10% payable quarterly on March 31, June 30, September 30 and December 31st. The initial journal entry made by Transanomics Corp. was:
Business
1 answer:
Vlad [161]3 years ago
5 0

Answer:

Issued Bond was the liabilities for Transanomics Corp. It receives cash against the issuance of bonds.

Initial Journal Entry by Transanomics Corp.

                                         Dr.                    Cr.

January 1, 2015

Cash                            $500,000

Note Payable                                        $500,000

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A note receivable Mild Max Cycles discounted with recourse was dishonored on its maturity date. Mild Max would debit: A receivab
Leviafan [203]

Answer:

A receivable.

Explanation:

Mild Max Cycles had a notes receivables, which it already discounted with some financial institution, which later on the maturity date stand to be dishonored.

It is clear that the company earlier already collected the money against it, but now as the note receivable was discounted with recourse that is it provided assurance to the financial institution, in case of any failure, thus, the company will pay back to the financial institution and that the company still have the right to receive it back from the note receivable.

7 0
3 years ago
A supply curve has equation q equals 4 p minus 24 ⁢ comma where p is price in dollars. A dollar-sign 3 tax is imposed on supplie
emmasim [6.3K]

Answer: New supply equation = Qs= 4P - 36

Explanation: A supply equation shows us the mathematical relationship between quantity supplied and the price of the good. Since price and supply are positively related, P must carry a positive sign in the supply equation.

Given, supply is Qs=4P - 24

P is the price paid by consumers in the market.

When a $3 tax is levied , price sellers receive becomes P-T = P - 3

So, the new supply equation will be

Qs= 4 (P-3) - 24 Qs= 4P - 12 - 24  Qs= 4P - 36

5 0
3 years ago
Tim's Taxi Service sold one of its cabs for $9,000. The cab had an original cost of $23,000 with $16,000 in accumulated deprecia
natta225 [31]

Answer:

The recognized gain is $2000

Explanation:

The carrying value of the cab sold is the difference between the original cost of $23,000 and the accumulated depreciation of $16,000, hence, carrying value is $7000($23000-$16,000)

The cash proceeds from the disposal of then cab are $9000

Gain on disposal of cab=$9000-$7000

Gain on disposal of cab=$2000

6 0
3 years ago
If a good that generates positive externalities were produced and priced to take into account these spillover benefits, then its
Morgarella [4.7K]

If a good that generates positive externalities were produced and priced to take into account these spillover benefits, then its: price and output would increase.

Definition of Positive Externality: this happens when the consumption or production of a decent causes a benefit to a 3rd party. For example: once you consume education you get a non-public benefit. But there also are benefits to the remainder of society.

When a positive externality is present, the market produces the socially optimal quantity of the great or service, since there's a benefit to society that's not captured by the individual.

When products that make positive externalities are produced, at the market equilibrium output, the social benefit Positive Externality generated by consuming the merchandise exceeds the private benefit. A. people that sleep in one country have the benefit of the assembly of an honest or service that happens in another country.

This occurs when the assembly of an honest person causes a 3rd party benefit. As a result there's a Positive Externality nonstop benefit where the assembly of an honest or service positively impacts a 3rd party. The benefit to the individual or firm is a smaller amount than the benefit to society.

learn more about Positive Externality: brainly.com/question/10743687

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3 0
1 year ago
Your import/export business is growing with such a large amount of varied inventory that you had to increase the space you rent
ratelena [41]
I dont know the answers. go somewhere else


6 0
3 years ago
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