Answer:
cash 595,900 debit
bonds payable 590,000 credit
premium on bonds 5,900 credit
Explanation:
We have to record the issuance of the bonds:
<em><u>cash proceeds:</u></em>
face value x quote:
590,000 x 101/100 = 595,900
face value <u> (590,000)</u>
<em>premium </em> 5,900
<em>There is a premium as we are receiving more than we are going to pay at maturity.</em>
We will debit the cash proceeds form the bond
and credit the bonds and premium
Answer:
Sole Proprietorship
Explanation:
Sole proprietorships own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts.
Explanation:
13,200 Rent prepaid on January 1 for 1 year
÷ 12 Months
$ 1,100 Rent expense per month
Thus, $1,100 Rent expense per month
× 7 Months
$7,700 Rent expense for January through July
At July 31, Aiden's Tavern should record $ 7700 of rent expense.
Answer is 67.
As, 6+ 7
= 13
Also, when 67 is interchanged(76), the original no. is increased by 9.
Answer:
$13,000
Explanation:
<em>Rune Co.'s</em>
<em>As of December 31</em>
Balance as per Bank Statement $10,000
(+) Bank credits and collections $4,000
(-) Bank errors overstate book balance $1,000
Correct Cash Balance $13,000