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2 years ago

Journal Entry

Business

1 answer:

Contact [7]2 years ago

4 0

Answer:

Explanation:

unearned rent 6000 (debit)

Rent revenue. 6000 (credit)

to record 2 months of realized rent revenue

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Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the

MaRussiya [10]

Answer:

$308,100

Explanation:

Calculation for what are the issuer's cash proceeds from issuance of these bonds

Using this formulaIssuer's cash proceeds from issuance of bonds=Fave value*Implies a selling price percentage

Let plug in the formula

Issuer's cash proceeds from issuance of bonds=$390,000*79/100

Issuer's cash proceeds from issuance of bond=$308,100

Therefore the issuer's cash proceeds from issuance of these bonds will have be $308,100

5 0

2 years ago

Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe

Inga [223]

Answer:

Andrew did do a proper feasibility study about the land

Explanation: Andrew lots chunk of money because he gave out his land half of the price he bought it initially. And bought another at a higher price

which is more than the 10,000 dollars

7 0

2 years ago

1. Which of the following is characteristic of governmental fund accounting and financial reporting? a. The inclusion of only fi

34kurt

Answer:

a) the inclusion of only financial assets and related liabilities.

Explanation:

The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting," which stated that the purpose of financial reporting is to provide information to facilitate decision making by various groups.

The groups were defined as;

(1) citizens of the governmental entity,

(2) direct representatives of the citizens, such as legislatures and oversight bodies, and

(3) investors, creditors, and others who are involved in the lending process.

3 0

2 years ago

Fiscal policy is defined as changes in federal ________ and ________ to achieve macroeconomic objectives such as price stability

wariber [46]

Answer:

expenditures and taxes

Explanation:

Fiscal policy refers to a government action to adjust taxes and expenditures to influence economic growth. Taxes are the main sources of income for the government. A rise in taxes increases revenue to the government but lower individual disposable income. High taxes discourage investments and business expansion.

Government expenditure in infrastructure and other projects creates employment and incomes in the economy. Reduced spending by the government may result in a lower aggregate demand. The government uses fiscal policies together with monetary policies to achieve its economic goals.

5 0

2 years ago

You are given the following information for Lightning Power Co. Assume the company's tax rate is 35 percent.

olga55 [171]

Answer:

The company's WACC is 9.14%

Explanation:

cost of preferred stock

= (dividend on preferred stock)/(current market price)

= [$100*4%]/$72

= 5.56%

total finance = debt + equity + preferred stock

= (8,000*$1,060) + (310,000*$57) + (15,000*$72)

= $8,480,000 + $17,670,000 + $1,080,000

= $27,230,000

weight of debt = debt/total finance

= $8,480,000/$27,230,000

= 0.31

weight on equity = equity/total finace

= $1.080.000/$27,230,000

= 0.04

WACC

= (weight of debt*after tax cost of debt) + (weight on equity*cost of equity)

= (0.31*0.0393) + (0.65-0.1185) + (0.04*0.0556)

= 9.14%

Therefore, The company's WACC is 9.14%

5 0

2 years ago