Answer:
Note = $5,000
Interest rate = 6%
Time period = 120 days
The journal entry is as follows:
On July 12,
Account receivable A/c Dr. $5,100
To Notes receivable $5,000
To Interest revenue $100
(To record note dishonor)
Workings:
Interest revenue = $5,000 × 0.06 × (120÷360)
= $100
I’d like to take a senior Python developer role in a top tech company and maybe have my own startup
What about you?
Answer:
$510,000
Explanation:
No.of bonds issued = $600,000 / $1000 = 600
Total no. of stock warrants = 600 x 50 = 30,000
Market Value of stock warrants = 30,000 x $4 = $120,000
Issue price of bonds = $600,000 x 1.05 = $630,000
Amount to be recorded as increase in liabilities = Issue price of bonds - Value of stock warrants
= $630,000 - $120,000
= $510,000
