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Ainat [17]
3 years ago
8

Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a

fter making the final interest payment and recording the related entry, Cary retired the bonds. Complete the necessary journal entry for January 2, 2019 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
arsen [322]3 years ago
3 0

Answer:

Explanation:

The journal entry is presented below:

On January 2

Bond payable A/c Dr $1,500,000

      To Cash A/c $1,500,000

(Being the redemption of the bonds is recorded)

The discount on bonds payable would be matured on the date of maturity so in this case the face value would be recorded and it is equaled to the carrying value

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Debra, age 51, is self-employed and has never made a lot of money. But, she has consistently saved $4632 per year into a traditi
KiRa [710]

Answer:

D. $221072.

Explanation:

In this question, we use the future value formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $0

Rate of interest = 5%

NPER = 25 years

PMT = 4,632

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the answer would be $221,071.92  

5 0
3 years ago
Investment banks are guilty of conflict of interest when they A) pressure their analysts to produce research favorable to their
UNO [17]

Answer:

The correct answer here is option D.

Explanation:

Investment banks are special kind of financial institutions or intermediaries who are concerned with raising capital for other companies.

They also perform advisory based transaction services on the behalf of corporations, individuals and government.

In performing these functions, they often are found guilty of pressurizing analysts to produce favorable research for their clients, attempts to alter research of client's firm and permitting executives of client's firm to do so. They also get involved in prohibiting analysts from making any negative or controversial comments about client they are serving.

They do all these to maintain credit worthiness of their client firm, so that the client is able to procure capital.

5 0
3 years ago
On december 1, 2016, escobar consulting, which uses a calendar year as its fiscal year, signs a $4,000, 12%, four-month note pay
loris [4]
The journal entry to record the payment of the note and entire interest on april 1, 2017 is as follows; Debit Notes Payable $4,000, Debit Interest Expense 120, Debit Interest Payable 40, <span>Credit Cash $4,160.

April 1,2017
       Notes payable     $4,000
       Interest expense    $120
       Interest payable       $40
                       Cash                  $4,160</span>
7 0
3 years ago
What do you mean by public service?​
Inessa05 [86]

A public service is something provided by the government or another official entity for the benefit of all members of a society or community, such as health care, transportation, or garbage management.

Any service designed to meet the specific needs of the total population of a community is considered a public service. People who live in a government jurisdiction can access public services directly from public sector organizations or through public financing of private companies or nonprofits (or even as provided by family households, though terminology may differ depending on context). Other public services are provided on behalf of or in the best interests of the citizens of a government. The phrase refers to a social consensus .

Learn more about  public service here.

brainly.com/question/28161669

#SPJ1

6 0
1 year ago
Joe quits his computer programming​ job, where he was earning a salary of ​$65,000 per​ year, to start his own computer software
Verizon [17]

Answer:

The accounting cost and the economic cost associated with​ Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

Accounting cost =  Other Expenses + Salary paid to himself

                           = $35000 + $40,000

                           = $75,000

Economic cost = Accounting cost + Salary expense + Rent expenses

                        = $75,000 + $65,000 + $25,000

                        = $165,000

8 0
3 years ago
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