Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $500,000
To Bond Payable $500,000
(Being the issuance of the bond is recorded)
On Dec 31
Bond Payable $500,000
Loss on redemption $15,000 ($500,000 × 3%)
To Cash ($500,000 × 103%) $515,000
(Being the redemption of the bond is recorded and the remaining balance or we can say balancing figure is debited to loss on redemption)
Answer: See explanation
Explanation:
a. Determine the net income for July using the cash basis of accounting.
Revenue = $3800 + $1100 + $5100 = $10000
Less: Expense = $1200
Net Income = $10000 - $1200 = $8800
b. Determine the net income for July using the accrual basis of accounting.
Revenue = $8600 + $3800 = $12400
Less: Expense = $1300
Net income = $12400 - $1300 = $11100
Answer:
If this is the case then it is not valid.
Explanation:
Any counterfeit id is illegal and should never be rendered to be used for any purpose in relation to official documents.
The various functions of MNC are:
Promotion of foreign investment.
Technology transfer.
Promotion of exports.
Investment in infrastructure.
