Answer:
The journal entry would be passed as the accounts are closed, which is shown below:
Explanation:
As the books are closed, then the correction would be made against the capital accounts of the partners. And the following Journal entry would be made as:
Land A/c................................Dr $30,000
A's Capital A/c..................Cr $15,000
B's Capital A/c..................Cr $9,000
C's Capital A/c..................Cr $6,000
Working Note:
The amount of land is to be proportionate as the ratio of the partners which is computed as:
A's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 5 / 10
= $15,000
B's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 3 / 10
= $9,000
C's Capital A/c = Land amount × Ratio of A / Sum of ratios
= $30,000 × 2 / 10
= $6,000
Answer:
$1,161.23
since the coupon rate is higher than the market rate, the bonds will be priced at a premium
Explanation:
In order to calculate the current market price of the bonds we can use the yield to maturity formula:
YTM = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]
- YTM = 11%
- n = 15 years
- coupon = $130
- face value = $1,000
0.11 = {130 + [(1,000 - market value)/15]} / [1,000 + market value)/2]
0.11 x [1,000 + market value)/2] = 130 + [(1,000 - market value)/15]
0.11 x (500 + 0.5M) = 130 + 66.67 - 0.067M
55 + 0.055M = 196.67 - 0.067M
0.122M = 141.67
M = 141.67 / 0.122 = $1,161.23
Answer:
False
Explanation:
Never said what the less experienced persons job was it could be a pilot and get Tons of money there for it would be false
Answer: c. incremental operating cash flow, as well as the capital spending and net working capital requirements
Explanation:
During financial planning for projects, understanding the inflows and outflows of cash which will be created by the project is important. The cash flows for a project include the incremental operating cash flow, and the capital spending and net working capital requirements
The incremental cash flow is an additional operating cash flow which an organization receives from doing a new project. Capital spending is the money an organization spends to purchase, maintain, and improve its fixed assets, like vehicles, land, buildings, or equipment.
Answer:
Supplies Account
Trial balance $295 | Adjustment $187
| Balance $108
<u>$295</u> <u>$295</u>
Balance <u>$108 </u>
Supplies Expenses Account
Adjustment $187 |
Adjusting journal entry
Date Account Titles Debit Credit
Supplies expenses $187
Supplies $187
(To record Supplies expenses)