Answer:
Dr Bonds payable $50,700
Dr premium on bonds payable $4,265
Cr Cash $53,000
Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965
Explanation:
The premium yet to be amortized on the bond at retirement is the carrying value minus face value i.e $54,965-$50,700=$4265
The premium on bonds payable would now be debited with $4265
The cash paid on retirement would be credited to cash account
The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.
Answer:
Grease payment
Explanation:
A grease payment is a payment made to a government official with the goal of expediting a transaction, process or request. It can be obtained through extortion from the government official, by voluntary contribution from the non-goverment official, or by mutual agreement, either explicit, or implicit.
In practice, it is essentially the same as a bribe, and the term could be considered a colloquial euphemism.
Answer:
The amount of interest is $576.
Step by step explanation :
Given : Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.
To find : The amount of interest he will pay on the loan.
Solution : Using the formula,
Where, I= Interest , P=principal , R= rate, T=time in years
We have given that :
P=$3600
R=8%=0.08
T=2 years
Substitute value in the formula to find interest,
Therefore, The amount of interest is $576.
Answer:
C. Real Estate Fraud Prosecution Trust Fund.
Explanation:
The motive of creating the Real Estate Fraud Prosecution Trust Fund was to distribute the dedicated funds for the prosecution relating to the real estate fraud within San Francisco.
According to the Section 27388 of California Government Code an amount of $2.00 per every real estate instrument recorded is to be collected by counties and placed in a Real Estate Prosecution Trust Fund.
When you pay off an installment loan early you will save money on interest.
The bank charges an interest rate on money that they loan out. When you pay the loan early you do not have to pay the interest on the money for the amount of time left on the loan.
