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
arlik [135]
3 years ago
8

Salt Foods purchases forty $1,000, 7%, 10-year bonds issued by Pretzelmania, Inc., for $37,282 on January 1. The market interest

rate for bonds of similar risk and maturity is 8%. Salt Foods receives interest semiannually on June 30 and December 31.
1. Record the investment in bonds.2. Record receipt of the first interest payment on June 30.
Business
1 answer:
alexira [117]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below;

a. Investment Dr $37,282

      To Cash $37,282

(being the investment in bonds is recorded)

b.

Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400

Investment  $91

   To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491

(Being the first interest payment is recorded)

You might be interested in
The adjusted trial balance of Warbocks Corporation at December 31, 2017 includes the following accounts: Retained Earnings $12,6
irina [24]

Answer:

                                            Warbocks Corporation

Statement of retained earnings for the year ended December 31, 2017

                                                                                      Amount in $

Opening retained earnings                                           12,600

Net income for the year                                                  7,000

Dividend                                                                         <u> (5,000)</u>

Closing retained earnings                                             <u> 14,600</u>

Explanation:

The retained earnings statement shows the movement in the retained earnings balance between the start and end of the year.

This includes the net earnings and dividend paid during the year.

Net income =  $30,000 - $15,000 - $2,000 - $4,500 - $500 - $1,000

= $7,000

5 0
3 years ago
__________ begins with new-product purchases first by innovators and then by early adopters.
elena-s [515]

Diffusion of innovation

4 0
3 years ago
an economy in which all the boys became farmers when they are adults just as their fathers and grandfathers did would be an exam
sergeinik [125]
That would be an example of traditional economy.
8 0
3 years ago
"You have been hired as a consultant by a new company to develop a strategic prospecting strategy. The company brews and bottles
11Alexandr11 [23.1K]

Answer: One of what is necessary in product marketing is identifying the industry and the sector that uses this product. The company doesn't sell direct to consumers and considering the components of the tea, I would recommend a plan that targets the health industry.

Explanation:

One of what is necessary in product marketing is identifying the industry and the sector that uses this product. The company doesn't sell direct to consumers and considering the components of the tea, I would recommend a plan that targets the health industry. The tea product focuses on health with natural ingredients with antiaging and anti-carcinogens, also they are rich in vitamins. The recommended plan of targeting the health is to propose the product as medicinal or a supplement, which the health institution can recommend for her customers. One of the ways the products can be marketed to the clients to the last consumer is by mentioning the merits of taking them alongside other medication.

The strategic plan would mapping out health agencies that are in my town, draft out magazines, fliers about the product, so that anyone who comes across them can read them. After these health agencies have been visited, we track down the progress of how they are receptive to using the products and how their clients are responding to them

7 0
3 years ago
Lyman’s business has grown to 400 employees with annual revenues of $15 million. He would like to expand further but needs anoth
Rashid [163]
He should consider where he is going to get the money from, how soon he will be able to pay it back if he borrowed it, and if he needs anymore emplyees for the expansion. 
7 0
3 years ago
Other questions:
  • While walking down a street, Jonathon accidentally bumps into Jessica who is highly aggressive. She starts yelling at him and hi
    14·1 answer
  • Assume the following unadjusted account balances at the end of the accounting period for Chocolate Brownie Palace: Accounts Rece
    13·1 answer
  • Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be repor
    8·1 answer
  • Your company builds cars in Texas. You purchase metal from a company in Wisconsin. You are part of the _________ segment of the
    15·1 answer
  • Joe believes in providing a work setting and culture that encourage workers to be creative and inspire employees to work hard to
    13·1 answer
  • Lets talk for a brain bro
    10·1 answer
  • A company purchased factory equipment for $590,000. It is estimated that the equipment will have a $59,000 salvage value at the
    12·1 answer
  • On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturi
    11·1 answer
  • Choose one career position that is available in most hotels. What challenges would someone face while working in this position?
    14·1 answer
  • Compare the company profit performance and financial position with the average for the industry
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!