1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mash [69]
3 years ago
9

On January 1, 2019, Tonika Company issued a four-year, $10,700, 7% bond. The interest is payable annually each December 31. The

issue price was $10,018 based on an 8% effective interest rate. Tonika uses the effective-interest amortization method. Rounding calculations to the nearest whole dollar, which of the following journal entries correctly records the 2019 interest expense?
A. Interest expense 1,052
Bond discount 205
Cash 847
B. Interest expense 847
Cash 847
C. Interest expense 805
Bond discount 42
Cash 847
Business
1 answer:
Marianna [84]3 years ago
7 0

Answer:

C. Interest Expense 805

Bond discount 42

Cash 847

Explanation:

The interest expense is calculated based on effective interest rate. The issue price is 10,018 which is the actual price and with effective interest rate interest amount is determined. The interest expense has cash value and bond discount.

10,018 * 8% = 804.45 approximately 805.

You might be interested in
Which of the following is consistent with moving from a surplus to equilibrium in the market for foreign-currency exchange?
Vladimir79 [104]

Answer:

D

Explanation:

Foreign exchange rate is the rate at which one currency is exchanged for another currency.

If there is a surplus in the market for foreign-currency exchange, it means that the supply of foreign currency exceeds the demand. This would lead to the exchange rate appreciating and the domestic goods been more expensive.

If the foreign currency is moving from a surplus to equilibrium, it means that the supply is falling and is almost equal to demand. This would lead to a depreciation of the exchange rate and domestic good would become less expensive

8 0
3 years ago
A(n) _________ is a yearly published statement of the financial condition, progress and expectations of an organization.
Anika [276]

Answer: Annual Report

Explanation:

Completing the question with right answer:

An annual report is a yearly published statement of the financial condition, progress and expectations of an organization.

The financial report is normally targeted at the stakeholders and other individuals who have interest in the organization.

4 0
3 years ago
A concrete block making company is developing an aggregate capacity plan from the following sales forecast for its 6” and 8” con
prohojiy [21]
We need to see that table pls send a picture to it also if u may pls mark me braliest
7 0
3 years ago
Economic turmoil has a plus side because it produces opportunities for entrepreneurs who are comfortable with environmental fact
Dmitrij [34]

Answer: A) True.

Explanation: An economic crisis can represent a great opportunity disguised as a disaster, as well focused efforts to overcome it, can lead in entrepreneurial minds the possibility of reinventing themselves, defining new policies of their markets and achieving unthinkable achievements, which would not even be thought of in times of bonanza.

5 0
3 years ago
A technology company is growing rapidly and needs to hire experienced developers and marketing professionals. The best people in
Karolina [17]

Answer:

B

Explanation:

Use social media platforms like LinkedIn to screen for people with the relevant experience at high-performing companies

Using social media platform like Linkedin you would normally find the best and high- perfoming individuals, whomare definetly and most likely to meet the criteria for the job and even be beyond expectations. This has become a lot easier to use in this dispensation.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Macy's, Inc., operates the two best-known high-end department store chains in North America: Macy's and Bloomingdale's. The foll
    6·1 answer
  • The driver of a car breaks suddenly when a dog darts out in front of the car. what role did the endocrine system play in the qui
    5·2 answers
  • Park is always willing to give up 1 orange for 3 tangerines. (1) What is the size of MRSTO (marginal rate of substituting tanger
    10·1 answer
  • A to Z, a supermarket in New Jersey, placed a weekly advertisement in the local newspapers. The advertisement stated that A to Z
    9·2 answers
  • The balance of the Cost of Goods Sold account at the end of the year represents:(A) The cost of inventory not sold in the curren
    15·1 answer
  • Some unions require employers to follow this concept when giving promotions
    12·2 answers
  • What should I ask for my birthday?
    5·1 answer
  • The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June
    6·1 answer
  • Analysis of sales performance records helps marketers to find clues to potential problems.
    14·1 answer
  • Which of the following entry level job requires a four year college degree?
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!