Being laid off is when the company is goes through financial struggles so they have to chose people to cut off, being fired is when you did something wrong so they fire you.
Answer:
c. In Paulson's general ledger, the ending balance for the Cash account will be correct. However, the ending balance for the Service Revenue account will be too high and the ending balance for the Unearned Service Revenue account will be too low
Explanation:
Around 15th November, Paulson Painting endured a $6,000 cash amount from Apex Inc. in replacement for painting services to be rendered in the month of December. While posting the journal insertions correlated to this amount, Paulson's controller debits the Cash statement for $6,000 as well as charges Service Revenue toward $6,000. The statement which best describes the results of this posting is that, <u>in Paulson's general ledger, the ending balance for the Cash account will be accurate. Nevertheless, the ending balance regarding the Service Revenue account will remain extremely high as well as the ending balance for the Unearned Service Revenue account will remain extremely low.</u>
The accounting method under which revenues<span> are recognized on the income statement when they are earned.</span>
Answer:
$19,708,745
Explanation:
We first have to calculate the present value of the bonds:
Nper = 20 (10 years x 2 payments per year)
R = 11% / 2 = 5.5%
Payment = 83 / 2 = 41.50
Future value = 1,000
PV = ?
To calculate the present value we can use an excel spreadsheet and the present value function =PV(5.5%,20,41.5,1000) = $838.67
Now we calculate how many bonds were issued = $23,500,000 / $1,000 = 23,500 bonds.
To determine the market value of the debt outstanding we multiply the present value of the bonds times the total number of bonds outstanding
= $838.67 x 23,500 = $19,708,745
