Answer:
Entries are given below
Explanation:
Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis
June 30, 2021 ( issuance of bonds)
DEBIT CREDIT
Cash 1,042,973
Bonds payable 970,000
Premium on bonds payable 72,973
December 31, 2021 ( interest expense)
DEBIT CREDIT
Interest Expense 62,578
(1,042,973 x 12% x 6/12)
Premium on bonds payable 472
Cash 63,050
(970,000 x 13% x 6/12)
June 30, 2022 (interest expense)
DEBIT CREDIT
Interest Expense 62,550
(1,042,973-472) x 12% x 6/12)
Premium on bonds payable 500
Cash 63,050
(970,000 x 13% x 6/12)
Answer: Role
Explanation:
Role is basically refers to the collection of the databases that can easily access the privileges which are assigned to the specific users so that they can able to accessing the resources from the database system management.
- The database role is also known as the collection of the privileges in the database system.
- The main function of the role in the database management system (DBMS) is that it can easily update and also retrieve the business records in an organization.
Therefore, Role is the correct answer.
Answer:
The debit to the retained earning should be $750,000 for this transaction because that is the market value of the asset to be distributed as dividend.
Explanation:
Property dividend is a form of dividend payout that involves distribution of company`s assets to equity holders as a form of return. These assets can be inventory, marketable securities or investment in a subsidiary.
For this distribution to be formal, it must be approved by the board of directors of the company. After approved and declared, the accounting entries can now be passed.
The accounting entries needed are:
Debit: Retained Earnings with the amount of the asset distributed.
Credit: Dividend Payable with the amount of the asset distributed.
It is important to note that the market value of asset to be distributed should be considered i.e the market value of the asset must be recognized in the book. The difference in book value and market value of the investment will be recognized in respective asset ledger account prior transfer to retained earnings.So that the market value of the investment is recognized on the debit side of retained earnings
In the case of Fitzgerald, $750,000 will be debited to retained earnings since it is the market value of the asset to be distributed.
Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.
<u>Explanation:</u>
(a) (i) Marginal cost (MC) = Change in Total cost (TC) by Change in output (Q)
(ii) Total revenue (TR) = Price (P) into Q
(iii) Marginal revenue (MR) = Change in TR by Change in Q
(iv) Profit = TR - TC
Therefore:
Q TC MC P TR MR PROFIT
0 25 60 0 -25
1 40 15 55 55 55 15
2 45 5 50 100 45 55
3 55 10 45 135 35 80
4 70 15 40 160 25 90
5 90 20 35 175 15 85
6 115 25 30 180 5 65
7 145 30 25 175 -5 30
8 180 35 20 160 -15 -20
9 220 40 15 135 -25 -85
10 265 45 10 100 -35 -165
When Q = 4, MR = $25 and MC = $15, so MR > MC. When Q = 5, MR = $15 and MC = $20, so MR < MC. Therefore,
Profit is maximized when Q = 4 and P = $40, with maximum profit = $90.
(b) In the long run, new firms will enter the market by being attracted by positive short run profit. Therefore in long run, demand for individual firm will decrease, price for individual firm will decrease and profit will decrease until each existing firm earns zero economic profit.
Answer:
the correct option is c) change in the money wage and other resource prices does not shift the long run aggregate supply
Explanation:
First of all aggregate supply can be defined as the sum total of all the goods and services that are supplied in the economy during a defined period of time.
In the given question the option C is right because it is assumed that in the case of long run aggregate supply , the supply curve tends to remain static because any kind of change in the aggregate demand causes only temporary changes in the total output of the economy and the slope of the curve remains vertical. It is also assumed that the economy is being used at optimal as only factors like labor, capital, and technology can bring in aggregate supply.
Options a) and b) can't be true because if the supply curve is gonna shift , it is first going to shift in short run aggregate supply then long run aggregate supply , not the other way around.
