Answer and Explanation:
The journal entry to record the issuance of the bonds is shown below:
Cash Dr ($8,000,000 × 1.03) $8,240,000
To Bond payable $8,000,000
To Premium on bond payable $240,000
(Being issuance of the bond is recorded)
Here cash is debited as it increased the asset and credited the bond payable and the premium on bond payable as it increased the liabilities
Hence, the same is to be considered
A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is known as a:
According to the given question, we are asked to show the term which can be best used to <em>describe </em>a group of sellers who make an agreement to <em>reduce their collective output</em> so that price of goods would increase above their marginal costs.
As a result of this, we can see that this group of people in the business world are known as cartel because they behave unethically so that they could have increased profit on sales.
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Answer:
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Answer:
Under FIFO, the ending inventory is based on the latest units purchased.
Explanation:
First in, first out inventory (FIFO) method values cost of goods sold using the purchase price of the "oldest" units in inventory. This means that the cost of the first units sold will be used to determine COGS.
On the other hand, last in, first out (LIFO) method uses the price of the most recently purchased units to determine the cost of goods sold.
The responsibility that each person has not to harm another person, the community, or the environment
