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krok68 [10]
3 years ago
8

Help!!!!! please give an explanation!

Business
1 answer:
Murrr4er [49]3 years ago
7 0
I’m sure that it’s true you nerd
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The Gorman Group issued $970,000 of 13% bonds on June 30, 2021, for $1,042,973. The bonds were dated on June 30 and mature on Ju
omeli [17]

Answer:

Entries are given below

Explanation:

Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis

June 30, 2021 ( issuance of bonds)

                                                          DEBIT          CREDIT

Cash                                                 1,042,973

Bonds payable                                                     970,000

Premium on bonds payable                                 72,973

December 31, 2021 ( interest expense)

                                                            DEBIT          CREDIT

Interest Expense                               62,578

(1,042,973 x 12% x 6/12)

Premium on bonds payable               472    

Cash                                                                          63,050

(970,000 x 13% x 6/12)

June 30, 2022 (interest expense)

                                                           DEBIT            CREDIT

Interest Expense                               62,550

(1,042,973-472) x 12% x 6/12)

Premium on bonds payable               500    

Cash                                                                             63,050

(970,000 x 13% x 6/12)

5 0
3 years ago
Why are some industries regulated?
muminat
Uk ​ us ​ GOVERNMENT, LAW. a type of business that is controlled by government rules: This applies to workers in regulated industries, such as teaching or financial services. The nuclear industry is the most highly regulated industry in the world.
5 0
4 years ago
Trevor gets a haircut before his interview. He wears his best suit to the interview. Walking into the room, he says hello, looks
marysya [2.9K]

Answer:

b. his eye contact.

Explanation:

Eye contact defines that it occurs when two people look at each other at the same time. It is a part of non-verbal communication when two people look at each other and thus its impact on social behavior.

Now, According to the given situation, Trevor gets a haircut and he dressed well for the interview. He is entering into the room of interview, wished and shake his hand to the interviewer after looking into his hand. Here, Trevor needs to improve his eye contact with their skills and abilities at the time of the interview.

6 0
3 years ago
Pastore Inc. granted options for 1 million shares of its $1 par common stock at the beginning of the current year. The exercise
Step2247 [10]

Answer:

$7,000,000

Explanation:

Calculation to determine What would be the total compensation indicated by these options

Using this formula

Total Compensation =Beginning options*Fair value of the options

Let plug in the formula

Total Compensation =1,000,000 shares × $7

Total Compensation =$7,000,000

Therefore What would be the total compensation indicated by these options is $7,000,000

3 0
3 years ago
In an effort to prevent future financial crises like the stock market crash of 1929, in the 1930s Congress: Multiple Choice pass
kumpel [21]

In an effort to prevent future financial crises like the stock market crash of 1929, in the 1930s Congress formed the FDIC.

<h3>What is the FDIC?</h3>

The Federal Deposit  Insurance Corporation (FDIC) was formed by th Congress after the stock market crash of 1929.Bank run was attributed to be one of the causes of the great depression. The FDIC increases confidence of depositors in banks because they insure the deposit of bank customers.

To learn more about the federal deposit insurance corporation, please check: brainly.com/question/827771

#SPJ1

6 0
2 years ago
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