Answer: Please see explanation for answer
Explanation:
Journal entry to record sale of bonds
Account titles Debit Credit
Cash $50,000,000
Bonds Payable $50,000,000
Answer:
<u>Scholarship Amount would be $45.68</u>
Explanation:
Deposits into an endowment account that pays 12% per year
Year 0 Deposit $100
Year 1 Deposit $90
Year 2 Deposit $80
Year 3 Deposit $70
Year 4 Deposit $60
Year 5 Deposit $50
Year 6 Deposit $40
First find the present worth of the gradient deposits.
P = 100 + 90(P/A, 12%, 6) - 10(P/G, 12%, 6) = $380.69
A = 380.69 (0.12)
A= $45.68
Answer:
Explanation:
Crane Co
June 1. Credit: Sales $52,200
Debit: Acc receivable $52,200
Being sales on account
June 12 Debit: Bank. $ 50,634
Debit: Discount Allowed $1,566
Credit: Acc receivable. $52,200
Being payment received on sales
Answer:
Industrial Finance Corporation of India (IFCI)
State Financial Corporations (SFC)
Industrial investment bank of India Ltd
<h3><u>O</u><u>bjectives</u><u>:</u></h3>
- Objectives of IFCI provide medium and long-term financial assistance to large scale industrial undertakings, particularly when ordinary bank accommodation does not suit the undertaking or finance cannot be profitably raised by the concerned issue of shares.
- Objectives of SFC to maintain and promote fairness, efficiency, competitiveness, and transparency in the securities and futures markets; promote public understanding of investing and corporate finance policy; protect investors by enforcing regulations; reduce crime and misconduct
- Objectives of Industrial Bank of India Ltd To provide financial assistance as well as to revive and revitalise sick industrial units in public/private sectors, an institution called the Industrial Reconstruction Corporation of India (IRCI) was set up in 1971 with a share capital of Rs. 10 crores.