1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Darya [45]
3 years ago
9

Tan Corporation issued $600,000,000 of 7% bonds on November 1, 2015, for $644,636,000. The bonds were dated November 1, 2015, an

d mature in 10 years, with interest payable each May 1 and November 1. The effective-interest rate is 6%. Prepare Tan’s December 31, 2015, adjusting entry. Use effective rate method of amortization
Business
1 answer:
jonny [76]3 years ago
7 0

Answer:

Interest Expense $6,446,360

Interest Payable $7,000,000

Explanation:

Interest Expense for the year =

Issued amount * Effective interest rate * \frac{Remaining months in the year}{Total months in the year}

$644,636,000 * 0.06 * 2/12 = $6,446,360

Interest Payable =

Face Value of the bond * Interest rate * \frac{Remaining months in the year}{Total months in the year}

$600,000,000 * 0.07 * 2/12 = 7,000,000

You might be interested in
Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t
gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0
3 years ago
Stocks X and Y have the following data. Assuming the stock market is efficient and the stocks are in equilibrium, which of the f
s344n2d4d5 [400]

Answer:

b. Stock Y has a higher dividend yield than Stock X

Explanation:

Hope it helped...Please mark brainliest. Have a nice day!

7 0
3 years ago
many credit card companies will let you determine your interest rate when they approve for your card true or false
SashulF [63]

The answer to this is false because all they want is for you to use their card and then it will hurt you credit score because then you will have to pay interest rates.

So it is false

6 0
3 years ago
Read 2 more answers
Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company
shutvik [7]

Answer:

Micro environment                                              

Explanation:

The institution's micro-environment comprises of those components that are manageable. Generally the micro-environment doesn't really impact all businesses in a sector in same manner, as the scale, efficiency, competence and approaches are different.

For instance, the suppliers of raw materials are giving big corporations more compromises. We might not offer small businesses the same concessions though. Thus, from the above we can conclude that the correct answer is micro-environment.

5 0
2 years ago
The _____ tags must be at the start and end of an ordered list.
Ilia_Sergeevich [38]

Your answer would be, The <ol> and </ol> tags must be at the start, and end of an ordered list.

<OL> and </OL>


Hope that helps!!! Hope that was one of the choices given, since you haven't put any choices, so I'm guessing.



Hope that helps!!!! ( Answer: <ol> and </ol> )
8 0
3 years ago
Other questions:
  • The following are several figures reported for Allister and Barone as of December 31, 2018.
    9·2 answers
  • How can you change your name
    15·2 answers
  • The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $110 Mar. 10 Purchase 60 u
    14·1 answer
  • Resale price maintenance occurs when: a. the manufacturer suggested retail price. b. minimum prices are enforced. c. consignment
    10·1 answer
  • Suppose an economy is initially operating at long-run equilibrium when there is an increase in consumer optimism about the econo
    10·1 answer
  • Ways in which climate change can affect the economy of South Africa​
    11·1 answer
  • Suppose the economy is in a recession. The economy needs to expand by at least $350 billion, and the marginal propensity to cons
    12·1 answer
  • Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2021. During that time, he earned
    12·1 answer
  • Poppy most likely qualified for a zero interest auto loan because:
    9·1 answer
  • the purpose of tracing a sample of inventory tags to a client's computerized listing of inventory items is to determine whether
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!