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vivado [14]
3 years ago
12

A city's Enterprise Fund issued revenue bonds with a face value of $10,000,000. The bonds were issued with a 2% premium and the

issuance costs totaled $150,000. When the bonds are issued, the Enterprise Fund will report total other financing sources in the amount of $0. $9,850,000. $10,000,000. $10,200,000.
Business
1 answer:
Mrac [35]3 years ago
5 0

Answer:

The correct answer is $9,850,000

Explanation:

The Enterprise fund which will be reported, total other financing sources of the amount is computed as:

= Face Value - Cost of issuance

where

Face Value is $10,000,000

Cost of issuance is $150,000

Putting the values above:

= $10,000,000 - $150,000

= $9,850,000

Note: Premium will not be considered as it is asked for when the bonds are issued.

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Okay. So Joan receives 25% commission on the profits of the cars she sells. She got $8,870 on the profit last month. To find the commission, let’s multiply the amount of profit by the percentage. 8,870 * 0.25 is 2,217.5. There. Joan earned $2,217.50 in commission last month.
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3 years ago
How do public relations and advertising differ?
lukranit [14]

Answer:

B. Advertising focuses on paying for time or space that allows advertisers to disseminate their organization's messages about its products and services; in public relations, credibility helps to earn media recognition.

Explanation:

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3 years ago
On April 1, a patent with an estimated useful economic life of 12 years was acquired for $1,500,000. In addition, on December 31
Tasya [4]

Answer:

April 1

Debit : Patent $1,500,000

Credit : Cash $1,500,000

December 31

Debit : Amortization $125,000

Credit : Accumulated Amortization $125,000

December 31

Debit : Impairment loss  $6,000,000

Credit : Accumulated Impairment loss $6,000,000

Explanation:

Both the Amortization and Impairment loss reduce the value of assets. They are therefore expenses accounted in Income Statement.

Amortization : is the loss of value of an asset due to passage of time.

Amortization Expense = (Cost - Residual Amount) ÷ Useful Life

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Impairment loss : is the excess of the Carrying Amount of an Asset over its Recoverable Amount( Higher of Value in Use and Fair Value less Cost to Sell)

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