Answer:
Land 90,000 debit
Building 270,000 debit
Cash 360,000 credit
--to record the purchase of land and a building atached to the ground--
Explanation:
To know the values we will calcualte the weights of each concept according to their fair values.
Then, we multiply these weight by the actual amount at which we purchased.
Land 100,000
Building <u> 300,000 </u>
Total 400,000
land weight: 100,000/400,000 = 25%
buidling weight: 300,000 / 400,000 = 75%
land enter the accounting as 25% of 360,000 = 90,000
building will we posted as 75% of 360,000 = 270,000
Answer and Explanation:
The adjusting entry is as follows
Interest receivable Dr ($18,600 × 10% × 42 days ÷ 360 days) $217
To Interest revenue $217
(being the interest revenue is recorded)
Here the interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue
The 42 days are calculated from Nov 19 to Dec 31
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answers
a. Government bonds
Explanation:
Hungarian government is the issuer for these bonds and these are government bonds. The bond issuer is the borrower, while the bondholder or purchaser is the lender. At the maturity of the bond, bond issuers repay the bondholder the principal value.
