A vessel operator must report the accident if the property damage exceed $2,000.00. The other conditions which require a vessel operator to report an accident are death or disappearance of a person and an injury which requires more than first aids treatment. Failure to render assistance to those people injured during an accident and failure to report the accident when necessary are both criminal offences.
Answer and Explanation:
a) Discount:
Carrying Value:$106,554
Face Value:($118,000)
Discount:($11,446)
Calculate Gain/Loss:
Carrying Value:$106,554
Redemption Price:($120,360)
[118,000*102]
Loss:(13,806)
April 30 2022
Dr Bonds Payable $118,000
Dr Loss on Redemption $13,806
Cr Discount on Bonds Payable $11,446
Cr Cash $120,360
(Record retirement of bond at loss.)
(b)Calculate Premium:
Carrying Value:$271,021
Face Value:($250,400)
Premium:$20,621
Calculate Gain/Loss:
Carrying Value:$271,021
Redemption Price:($240,384)
[$250,400*96]
Gain$30,637
June 30, 2022
Dr Bonds Payable $250,400
Dr Premium on Bonds Payable $20,621
Cr Gain on Redemption $30,637
Cr Cash $240,384
(Record retirement of bond at gain.)
Answer:
1.3%
Explanation:
The real interest rate is calculated by subtracting the inflation rate from the nominal interest rate.
real interest rate=nominal interest rate-inflation rate
nominal interest rate=4.7%
inflation rate= 3.4%
real interest rate=4.7%-3.4%
real interest rate=1.3%
According to this, the answer is that the real interest rate is 1.3%.
Answer:
Check the following explanation
Explanation:
When changing from the average cost method to FIFO, the company: Multiple Choice Includes in current year’s income the cumulative after-tax difference that would have resulted if the company had used FIFO in all prior years.