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xeze [42]
3 years ago
7

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,00

0 ($7,500,000 × 8% × ½), receiving cash of $7,740,000.
journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.
Business
1 answer:
Sav [38]3 years ago
5 0

Answer:

$7,500,000 in 8% bonds, 5 years to maturity, semiannual coupon ($300,000)

sold at premium for $7,740,000

the journal entry to record the issuance should be:

Dr Cash 7,740,000

    Cr Bonds payable 7,500,000

    Cr Bond premium 240,000

<u>Using the straight line amortization:</u>

amortization per coupon payment = $240,000 / 10 coupons = $24,000

Dr Interest expense 276,000

Dr Bond premium 24,000

    Cr Cash 300,000

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Kite Sales. Wendy is president of a business that manufactures kites. The kites of her company, ABC Kites, are sold to large toy
LuckyWell [14K]

Answer:

She violated the duty of loyalty

Explanation:

One of the fiduciary duties of a director is to always act in the best interest of the company .

Similar to this is the duty of loyalty that prevents the director from acting against the interest of the company and also guide the director against activities that could bring conflict of interest whereby he is involved in reaping personal benefits from the position she occupies .

This describes Wendy's action of personal dealing based on her position as the president of Kite sale

5 0
3 years ago
Calculate the EBIT for a firm with $4 million total revenues, $3.5 million cost of goods sold, $500,000 depreciation expense, an
Vitek1552 [10]

Answer:

$0

Explanation:

Given that,

Total revenues = $4,000,000

Cost of goods sold = $3,500,000

Depreciation expense = $500,000

Interest expense = $120,000

Earnings before interest and taxes (EBIT):

= Total revenues - Cost of goods sold - Depreciation expense

= $4,000,000 - $3,500,000 - $500,000

= $0

Therefore, the EBIT for a firm is $0.

8 0
2 years ago
True/False<br> The Marketing Cloud Connect API user is typically a shared user.
irina [24]

Answer:

The answer is True

Explanation:

Marketing cloud connected to an API is typically a process that makes pushing of marketing data to other department in sales easy.

Before we continue, let us define some terms:

API simply stand for Application Programming Interface

Marketing Cloud is a system that allows for the integration of digital marketing tools into a system such as google analytics, for the purpose of motoring client or customer interaction with a particular product or system.

Cloud: This is the process of using a form of server managed and hosted over the internet to manage and arrange data processing.

Going back to the question, since it is a cloud based system, it is typically a shared user system. so the answer is true.

6 0
3 years ago
According to Garvin's ________ definition of quality, quality is found in the components and attributes of a product.
Vladimir [108]

Answer:

product based

Explanation:

Garvin defined five measures or perspectives of quality:

  1. transcendental perspective: quality that can be perceived but not clearly defined.
  2. user perspective: concrete definition of quality, the product complies with the users' needs yes or no.
  3. manufacturing perspective: quality is measured as conformance to requirements, e.g. ISO standards.
  4. product perspective: quality is measured by the characteristics of the product.
  5. value based perspective: different aspects of quality can be valued differently depending on the stakeholder.
6 0
3 years ago
How can I start my own home base business
nydimaria [60]
You can contact a spokesman who will be able to assist you.
It is essential to have a budget that you can spent on your company.
Depending on what business you'll take part of, make sure it's advertised to the public (i.e flyer, ad)
In order to make your business the limelight, you can ask people that can be employed to your Corp. that way your business can be known by many people.
Keep your budget obtained, and don't spent to much money on your business.
You should avoid taking risks or your business can become a flop.

Good luck !! :)

6 0
3 years ago
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