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astra-53 [7]
3 years ago
6

On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5-year bond that pays semiannual interest of $35,000 ($1

,000,000 × 7% × 1/2), receiving cash of $884,171. Journalize the entry for the issuance of the bonds. If an amount box does not require an entry, leave it blank.
Business
1 answer:
Zigmanuir [339]3 years ago
4 0

Answer:

Debit cash: $884,171

Debit discount: $884,171

Explanation:

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4 years ago
Candle in the Wind is a store for people who enjoy and collect candles to decorate their homes. Last year, its net sales totaled
melisa1 [442]

Answer:

$15,700

Explanation:

The computation of the net profit after taxes is shown below:

Sales revenue                                    $125,000

Less: Cost of goods sold -                -$42,300

Gross profit                                         $82,700

Less: Operating expenses

One time part assistant       $52,000  

Administrative expenses     $400

Utilities expenses                 $900

Total operating expenses                 -$53,300

Net Profit before tax                          $29,400

Less: income tax expense                -$13,700

Net profit after tax                             $15,700

3 0
4 years ago
By tying the salaries of top corporate managers to the price of the corporation's stock, corporations hope to avoid:
Serjik [45]

Answer:

the principal-agent problem

Explanation:

In the case when there is a tied of the top corporate managers salary with the price of the corporation stock so here the corporation should avoid the principal agent problem as it deals with the conflict with respect to the priorities that lies between the person and the representative.

So the above should be the answer

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3 years ago
Gaston knows he cannot be physically present at his new restaurant every hour it is? open, so he has decided to share management
Dmitriy789 [7]

Answer: General partnership.

Explanation:

Gaston has formed a general partnership with the two other business owners.

A general partnership is a business set up where two or more individuals own a business, take part in it's decision taking process and share profits equally.

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You borrowed $20,000 to finance the education expenses for your senior year of college at the beginning of your senior year. The
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