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3 years ago

What are some common reasons to keep records

1 answer:

3 0

It’s very important to your business. Good records will help you do the following: Monitor the progress of your business.

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Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 9.5% bon

Andre45 [30]

Answer:

Garzon Company

Journal Entries

January 1 Debit 9.5% Bonds Receivable PBS $45,600

Credit Cash $45,600

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,166

Credit Bonds Interest Revenue $2,166

To record the receipt of first semiannual interest.

December 31 Debit Cash $47,766

Credit 9.5% Bonds Receivable $45,600

Credit Bonds Interest Revenue $2,166

To record the receipt of both principal and second semiannual interest.

January 1 Debit 9% Bonds Receivable PBS $52,000

Credit Cash $52,000

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,340

Credit Bonds Interest Revenue $2,340

To record the receipt of first semiannual interest.

December 31 Debit Cash $54,340

Credit 9% Bonds Receivable $52,000

Credit Bonds Interest Revenue $2,340

To record the receipt of both principal and second semiannual interest.

Explanation:

a) Data and Analysis:

January 1 9.5% Bonds Receivable PBS $45,600 Cash $45,600

June 30 Cash $2,166 Bonds Interest Revenue $2,166

December 31 Cash $47,766 9.5% Bonds Receivable $45,600 Bonds Interest Revenue $2,166

January 1 9% Bonds Receivable PBS $52,000 Cash $52,000

June 30 Cash $2,340 Bonds Interest Revenue $2,340

December 31 Cash $54,340 9% Bonds Receivable $52,000 Bonds Interest Revenue $2,340

3 0

3 years ago

What is a limited company?

Ronch [10]

Limited Company - A limited company (LC) is a general form of incorporation that limits the amount of liability undertaken by the company's shareholders.

4 0

4 years ago

There were initially two satellite radio providers in the U.S. market, Sirius and XM Radio. The firms merged to form one firm, a

Delicious77 [7]

Answer: a. The merged firm will operate at higher capacity and may be able to reduce costs through economies of scale and perhaps learning-by-doing, which will benefit U.S. consumers.

Explanation:

A merger occurs when two companies comes together and becomes one. This is done in order to expand the recah of a company, gain a market share, and also expand into new segments.

The plausible reasons for the limited impact of the merger will be because the merger will lead to the operation at a higher capacity which will ensure that there's cost reduction through economies of scale which will be beneficial to the consumers.

7 0

3 years ago

Which of the following is NOT an employer responsibility stated in OSHA’s Bloodborne Pathogens Standard?

blondinia [14]

C. Take minimal precautions

4 0

3 years ago

Organizational policies originate with top ________ and are disseminated to lower levels for implementation

Yuri [45]

Organizational policies originate with top level of management and are disseminated to lower levels for implementation.

Top level of management consists of an organization’s board of directors and the chief executive or the managing director of the company.

It is the ultimate source of power and authority because it oversees the goals or policies, and procedures of a company. Main priority of the top level management is on the strategic planning and execution of the overall business success.

The roles and responsibilities of the top level of management can be summarized as given below:

To lay down the objectives and the broad policies of the business enterprise.

To issue necessary instructions for the preparation of department-specific budgets, as well as schedules or procedures, etc.

To preparing strategic plans and policies for the organization.

To establish controls of all organizational departments.

To know more about top level management here:

brainly.com/question/3352289

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3 0

2 years ago