Media companies earn money by selling which of the following?

An overgrown lawn is manicured by mowing it with a lawn mower is an example of

Marta_Voda [28]

An overgrown lawn is manicured by mowing it with a lawn mower is an example of physical change. Physical change is a change that affects the physical form of the substance or environment but not its chemical composition. In this example, the lawn is manicured by mowing it, so the physical form would be changed. But, the chemical composition of the lawn was maintained and was not change. So, this is clearly a physical change.

4 0

4 years ago

On January 1, 2020, Oriole Company purchased 12% bonds, having a maturity value of $320,000 for $344,260.74. The bonds provide t

n200080 [17]

Answer:

face value $320,000, coupon rate 12%

current market value $344,260.74, effective interest rate 10%

maturity in 5 years, coupon paid yearly

(a) Prepare the journal entry at the date of the bond purchase.

Dr Investment in bonds (AFS) 320,000

Dr Premium on investment in bonds (AFS) 24,260.74

Cr Cash 344,260.74

(b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2020.

unamortized premium = ($320,000 x 12%) - ($344,260.74 x 10%) = $38,400 - $34,426.07 = $3,973.93

Journal entry to record accrued interests:

Dr Interest receivable - investment in bonds (AFS) 38,400

Cr Interest revenue 34,426.07

Cr Premium on investment in bonds (AFS) 3,973.93

Journal entry to record recognition of fair value 2020

fair market value $342,000 - $340,286.81 (carrying value) = $1,713.19

Dr Fair value adjustment - equity 1,713.19

Cr Unrealized gain on investment in bonds bonds (AFS) 1,713.19

(c) Prepare the journal entry to record the recognition of fair value for 2021.

unamortized premium = ($320,000 x 12%) - ($340,286.81 x 10%) = $38,400 - $34,028.68 = $4,371.32

fair market value $329,700 - carrying value $335,915.49 = -$6,215.49

Dr Unrealized loss on investment in bonds bonds (AFS) 6,215.49

Cr Fair value adjustment - equity 6,215.49

6 0

3 years ago

Stylon Co., a women's clothing store, purchased $13,000 of merchandise from a supplier on account, terms FOB destination, 1/10,

Ber [7]

Answer:

Dr. Inventory..................13,000

Cr. Accounts Payable...............13,000

Explanation:

Stylon Co., a women's clothing store, purchased $13,000 of merchandise from a supplier on account, terms FOB destination, 1/10, n/30 using the net method under a perpetual inventory system. Stylon returned merchandise with an invoice amount of $2,100, receiving a credit memo.

a. Journalize Stylon's entry to record the purchase. If an amount box does not require an entry, leave it blank.

Dr. Inventory..................13,000

Cr. Accounts Payable...............13,000

b. Journalize Stylon's entry to record the merchandise return. If an amount box does not require an entry, leave it blank.

Dr. Accounts Payable........2.100

Cr. Inventory...................................2,100

c. Journalize Stylon's entry to record the payment within the discount period of 10 days. If an amount box does not require an entry, leave it blank.

In this case there will be discount credited to the inventory account

Dr. Accounts Payable.....(13000-2100)....10,900

Cr. Inventory................................................................109

Cr. Cash....................................................................10,791

d. Journalize Stylon's entry to record the payment beyond the discount period of 10 days.

In this case there will be no discount credited to the inventory account

Dr. Accounts Payable.....(13000-2100)....10,900

Cr. Cash....................................................................10,900

7 0

3 years ago

Can some one help me this its urgent

mylen [45]

Answer: Balance sheets follow ALS

Explanation: ALS stands for Assets-Liabilities-Stock (equity).

So first, find all assets. Place them under "assets" and add/subtract as needed (most likely add). In your case it should look something like this:

ASSTES:

Cash $6,414

Receivables $2,662

Inventory $3,191

Prepaid Expenses $2,557

TOTAL CURRENT ASSETS: $14,824

LONG TERM ASSETS:

Land $16,643

Buildings $56,163

Equipment $2,750

TOTAL LONG TERM ASSETS: $75,556

TOTAL ASSETS: $90,380

Where total current assets are calculated by summing up the total short term assets and long term assets is the same but with long term assets. Finally total assets is the sum of both the long and short term assets. You then do the same for the liabilities and equity.

6 0

1 year ago

Which are 3 common misconceptions users of an income statement may have?

Mama L [17]

The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.

One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.

To learn more about income statement here

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3 0

2 years ago