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sertanlavr [38]
2 years ago
13

On January 1, a company issues bonds dated January 1 with a par value of $250,000. The bonds mature in 5 years. The contract rat

e is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $260,148. The journal entry to record the issuance of the bond is: Multiple Choice Debit Cash $250,000; debit Premium on Bonds Payable $10,148; credit Bonds Payable $260,148. Debit Cash $260,148; credit Premium on Bonds Payable $10,148; credit Bonds Payable $250,000. Debit Bonds Payable $250,000; debit Bond Interest Expense $10,148; credit Cash $260,148. Debit Cash $260,148; credit Bonds Payable $260,148. Debit Cash $260,148; credit Discount on Bonds Payable $10,148; credit Bonds Payable $250,000.
Business
1 answer:
lutik1710 [3]2 years ago
8 0

Answer:

Debit Cash $260,148; credit Premium on Bonds Payable $10,148; credit Bonds Payable $250,000

Explanation:

The journal entry is shown below:

Cash $260,148

       To Bond payable $250,000

       To Premium on bonds payable $10,148

(Being the issuance of the bond is recorded)

While recording this we debited the cash as cash is received and credited the bond payable as it increased the liabilities and the difference is credited to the premium on bonds payable i.e $10,148

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Jean paid $18,489 for a new car. calculate the total cost of the car if she financed it at an interest rate of 3.5% for 4 years.
Fofino [41]
This is a simple interest problem. We are going to use the formula:
I=Prt
Where I is the interest she has to pay for her loan, P is the amount she financed, r is the interest rate (in decimal), and t is the number of years.

Replace the values to get:
I= (18489)(0.035)(4)
I=2588.46

Now that we have the interest she paid, we just need to add them to the value she paid to get the total cost she paid:
18489+2588.46=21077.46

We can conclude that the total cost of the car that she financed will be $21,077.46 
5 0
3 years ago
Read 2 more answers
Sandra wants to deposit $100 each year for her son. if she places it in an investment account that averages a 5% annual return,
stepan [7]

If Interest rate = 5%

Using Financial calculator

Payments (PMT) = 100

Interest (I/Y) = 5%

Number of Years (N) = 20

[N = 20 ; I/Y = 5% ; PV = 0 ; PMT = 100 ; FV = ?]

Compute for FV

Future value = 100 * 33.0660

Future value = $3,306.60

4 0
2 years ago
What is the surface area of the Ceral box?<br> Hight is 30 width is 20 side width is 5
9966 [12]

Answer:

The surface area of the ceral box is 1,500u².

Explanation:

2(30 × 5)+2(30 × 20)= 1,500

30 × 5 = 150

30 × 20 = 600

150 × 2 = 300

600 × 2 = 1,200

1,200 + 300 = 1,500

There's your answer, hopefully it's correct!

3 0
2 years ago
What would wages look like if there was no minimum wage?
creativ13 [48]

Answer:

if changed now they'd probably stay the same

Explanation:

people aren't going to buy anything if they don't have enough money to even feed themselves so if wages were lowered, especially minimum wage, that would be pretty bad lol

7 0
3 years ago
Selected information from the accounting records of Ellison Manufacturing Company follows:
Amanda [17]

Answer:

b. 94.9

Explanation:

The computation of the number of days' sales in average inventories is shown below:

Day inventory outstanding = (Beginning inventory + ending inventory) ÷ 2  ÷ cost of goods sold × total number of days in a year

= ($672,000 + $576,000) ÷ 2 ÷ $2,400,000 × 365 days

= ($624,000 ÷ $2,400,000 ) × 365 days

= 94.90 days

Simply we take the average of inventory and divide from the costs of goods sold

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
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