Answer:
fourth option
Explanation:
global trade is worldwide
it is the 4th option
<span>He has experience in banking, but feels like he would be better suited in a credit union workplace. He feels that the working atmosphere is better and the customers are more pleasurable to work with.</span>
Answer:
The bond interest expense for the year ended December 31 of the first year is $4,929
Explanation:
In order to calculate bond interest expense for the year ended December 31 of the first year we would need to calculate first the Interest Expense and the Amotization Expense as follows:
Elias Corporation issued 9% bonds with a face value of $53,000, therefore the Interest Expense = $53,000 * 9% = $4,770
The bonds are sold for $51,410 and the maturity date is December 31, 10 years from now,
Therefore Amotization Expense = ( $53,000 - $51,410) / 10 years = $159
After having calculated the Interest Expense and the Amotization Expense we can calculate the Total Bond Interest Expense as follows:
Total Bond Interest Expense = $4,770 + $159 = $4,929
Answer:
Colorado Corp.
The retroactive adjustment to the accumulated depreciation account on January 1, Year 9, as a result of the change in depreciation method is:
= $0.
Explanation:
a) Data and Calculations:
Accumulated depreciation at December 31, Year 8 based on double declining balance method = $525,000
Accumulated depreciation at December 31, Year 8 based on straight-line method = $300,000
The required adjustment to the accumulated depreciation account = $0 ($525,000 - $525,000)
b) The accumulated depreciation account does not require a retrospective adjustment. It will remain at $525,000 while the company continues to apply the straight-line method going forward. The change is called a change in accounting estimate and not a change in accounting principle that requires retrospective application and adjustment to the previous years' accounts.