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nataly862011 [7]
3 years ago
8

On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued at face value. They had a 2

0 year term and a stated rate of interest of 7% payable in cash on December 31 of each year. Which of the following shows the journal entry required to recognize the bond issue on January 1, Year 1?
Business
1 answer:
DENIUS [597]3 years ago
7 0

Answer:

Dr Cash account 50,000

Cr Bonds Payable account 50,000

Explanation:

The company received $50,000  in cash. Since cash is an asset and it increased when the bonds were issued, it should be debited.

The company has to pay bonds worth $50,000. Since bonds payable is a liability and it increased when the bonds were issued, it should be credited.

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constant returns to scale

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A company's corporate code of ethics is a document given to a newly hired employee on the first day of work. Usually he is asked
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Answer:

Answer is explained in the explanation section below.

Explanation:

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Integrity is a virtue.

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3 0
3 years ago
Which organization provides leadership for the federal reserve system? board of governors congress department of the treasury fe
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4 0
4 years ago
If the equilibrium price of avocados is $4 and the government issues a price ceiling of $4.50, what is likely to happen in the m
Marat540 [252]

Answer:

A surplus of avocados will result from the price ceiling.

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.

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The price ceiling ($4.50) is less than the equilibrium price ($4) of avocados. As a result, surplus would increase. The supply of avocados would exceed the demand because price ceiling is above equilibrium price

6 0
3 years ago
Martin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That bequest wil
strojnjashka [21]

Answer:

$300,00

Explanation:

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$9,000/0.03

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5 0
3 years ago
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