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ZanzabumX [31]
3 years ago
12

On December 31, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. Prepare the necessary jo

urnal entry for Spearmint, Inc.
Business
2 answers:
Sophie [7]3 years ago
8 0

Answer:

Dr Cash for $461,795,

Cr Premium on Bonds Payable for $11,795

Cr Bonds Payable for $450,000

Explanation:

Journal entries

Dr Cash for $461,795,

Cr Premium on Bonds Payable for $11,795

Cr Bonds Payable for $450,000

(Issue price of $461,795 - par value of $450,000) =$11,795

Nina [5.8K]3 years ago
7 0

Answer:

Dr Cash         $461,795

Cr Bonds payable                    $450,000

Cr Premium on bonds payable $11,795

Explanation:

The journal entries to record the issue of bonds for the proceeds of $461.795 is to debit the cash amount as the cash has increased and credit would $450,000 in bonds payable account and the balance of $11,795($461,795-$450,000) is the premium on the issue and it is credited to premium on bonds account.

The bonds payable is credited because the $450,000 represents obligation owed to bondholders

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Option "2" is the correct answer to the following statement.

Explanation:

A short-term loan is a form of loan received to endorse short term business and personal wealth for a very short period. It is a tempting and temporary option, for most of the short term businesses which are not easily eligible for a loan from a financial institution.

This type of loan mostly paid back in a very short period usually in 12 months.

In this case, MVJ gets a loan for 90 days or 3 months so it is considered a short term loan.

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Answer:

Options A, B, C, and E.

(Please check the explanation section before you judge or pick your answer)

Explanation:

The options A, B, C, and E are the options that are considered complex if we want to Craft a strategy to compete in one or more foreign markets.

Please take note that if the question asked us to pick which of the options is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets then we would have picked Option D.

As given in the question, that is option D which says; '' buyer tastes and preferences creates challenges in standardizing products and services." Will not be a reason for crafting a strategy to compete in one or more foreign markets is inherently complex.

Countries due to globalization tends to participate in international trades. Competition in the international trade has its advantages as well as its disadvantages or risks.

To trade in the international market, countries must have their individual strategies and Option D above is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets

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Producer & Consumer should be the correct answer
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select all of the following that are companies that paid dividends for 100 consecutive years. a. bp b. stanley works c. corning
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The companies that paid dividends for 100 consecutive years is: b. Stanley Works c. Corning Glass Works, d. Pullman, Inc.

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Dividend can be defined as the money a company or an organization paid yearly to their shareholders and the money the company paid to their shareholders are  from the profit they make or generated.

Shareholders often invest their money in a business  or buy part of a company shares in which they in turn receive profit from the company they invested their money into.

Stanley Works, Corning Glass Works and Pullman, Inc. are the companies that has been paying dividend to their shareholders 100 consecutive years.

Therefore the companies that paid dividends for 100 consecutive years is: b. Stanley Works c. Corning Glass Works, d. Pullman, Inc.

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<h3>What is limited problem solving process?</h3>

Limited issue solving is another sort of consumer problem-solving that consumers employ when they need information about unknown brands in well-known product categories or when they make sporadic purchases of goods; it takes a fair amount of time for information collecting and consideration.

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