The journal entry to record the accrual of interest includes:
- Dr. Interest Expense $5,000
- Cr. Interest Payable $5,000
<h3>What is an
accrual of interest?</h3>
This mean the interest which has been incurred for specific date on a loan but has not yet been paid out.
Here, the Accrued interest expense on 12/31/15 is paid on 1/1/16.
Based on the calculation, the journal entry to record the accrual of interest includes a Debit to Interest Expense for $5,000 and a Credit to Interest Payable for $5,000.
Missing words "On January 1, 2015, Candlestick, Inc. issues $100,000, five-year, 10% bonds at 100 (100% of face value). Assume that interest is payable semiannually on January 1 and July 1."
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Answer:
Capital gains distribution is treated as long term
Capital gain from from redemption is treated as short term
Explanation: Capital gains may be explained as the profit made from the sale of a property or investment. Depending on the holding duration of the stock or bond, a capital gain may be classed as short term is held for below one year or long-term, of held for more than 1 year. However, According to the Internal Revenue service regulation, Capital gains are taxed as long term irrespective of the holding period in which the owner has possessed the fund.
Capital gains redemption however, follows the usual time-line and in this case would be taxed as short-term because the holding period is between July to May, which is a 10 months. Since it hasn't exceeded a year, then, it is classed as short term.
Answer: Marketing channel system.
Explanation:
Sammy's fast-food is focused on creating the best marketing channel system for their products consumers. Marketing channel system are the individuals and activities involved in the transfer of possession of goods from manufacturer to consumer.
C. Company cite :)
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Answer:
$127,400
Explanation:
Gross profit ratio = [(sale - cost) ÷ sale price] × 100
= [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100
= 0.26 × 100
= 26%.
Gross profit on down payment is recognized in 2019:
= Down payment × Gross profit ratio
= $490,000 × 26%
= $127,400
