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Delvig [45]
3 years ago
5

Assume that on April 1, Jerome, Inc., paid $100,000 to buy Potter's 8 percent, two-year bonds with a $100,000 par value. The bon

ds pay interest semiannually on March 31 and September 30. Jerome intends to hold the bonds until they mature.
Required:
Write down the journal entry.
Business
1 answer:
lorasvet [3.4K]3 years ago
6 0

Answer:

Dr Potter's 8% Bonds $100,000

Cr Cash $100,000

Dr Cash $4,000

Cr Interest income $4,000

Explanation:

Based on the information given the appropriate journal entry will be:

Dr Potter's 8% Bonds $100,000

Cr Cash $100,000

(Being 8% Bonds purchased)

Dr Cash $4,000

Cr Interest income $4,000

($100,000*8%*1/2)

(To record semi annual interest receipt)

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Answer:

USAco

Export of Videos

The true statement is:

c. USAco cannot take a foreign tax credit because USAco purchases the videos in the United States.

Explanation:

A foreign-source income is income generated from exports of goods and services or arising from the income generated by a U.S. foreign subsidiary.  Foreign tax credit is granted to US entities that have foreign subsidiaries to avoid double taxation of the foreign income.

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3 years ago
When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an or
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Answer: When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an organization with a(n) <u>Mercenary</u> culture.

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3 years ago
One of Justin's largest international customers is Alpine Airwaves in Switzerland. He got a call from his contact at Alpine Airw
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Answer:

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This means that it is following the environmental management standards for environmental footprint and waste reduction, while promoting environmental sustainability in its operations.

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3 years ago
Suppose you held a diversified portfolio consisting of a $7,500 investment in each of 20 different common stocks. The portfolio'
agasfer [191]

Answer:

0.68

Explanation:

A portfolio consists of an investment of $7,500

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The portfolio beta is 0.65

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The proceeds realized is then used to purchase another stock with a beta of 1.50

The first step is the to calculate the change in beta

Change in beta= 1.50-1

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= 0.025

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= 0.68

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