Select the correct answer.

Yale Corporation issued to Zap Corporation $48,000, 8% (cash interest payable semiannually on June 30 and December 31) 10-year b

tino4ka555 [31]

Answer:

Yale Corporation

Journal Entries:

a. January 1, 2020:

Debit Cash $44,878

Debit Premium on bonds $3,122

Credit 8% Bonds Payable $48,000

To record issuance of the bonds.

b. June 30, 2020:

Debit Interest Expense $2,020

Credit Bond Discounts $100

Credit Cash $1,920

To record the first payment of interest.

Explanation:

a) Data and Calculations:

January 1, 2020:

Face value of bonds = $48,000

Price of bonds = $44,878

Discounts on bonds = $3,122

Coupon interest rate = 8%

Interest payment = semiannually on June 30 and December 31

Maturity period = 10 years

Effective interest rate = 9%

June 30, 2020:

Interest Expense $2,020 ($44,878 * 4.5%)

Cash payment 1,920 ($48,000 * 4%)

Discount amortization $100

Value of Bonds = $44,978 ($44,878 + $100)

December 31, 2020:

Interest Expense $2,024 ($44,978 * 4.5%)

Cash payment 1,920 ($48,000 * 4%)

Discount amortization $104

Value of Bonds = $45,082 ($44,978 + $104)

N (# of periods) 20

I/Y (Interest per year) 9

PMT (Periodic Payment) 1920

FV (Future Value) 48000

Results

PV = $44,878.10

Sum of all periodic payments $38,400.00

Total Interest $41,521.90

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tekilochka [14]

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Explanation: Autocratic leadership is a type of leadership whereby the leader takes sole responsibility of decision making without involving others.

Characteristics of autocratic leadership

1. The leader is in complete control

2. There is no room for employee initiative.

3. Followers are not involved in problem solving or decision making.

4. Subordinates are reprimanded if perfection is not attained.

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Latoya filed her tax return on february 10th this year. when will the statute of limitations expire for this tax return if latoy

melomori [17]

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Jay Corporation owns several automobile dealerships. This year, the corporation initiated a policy of giving the top salesperson

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Answer: The Implications of this behavior to the corporation would be detrimental to their operations because as an institution they are not declaring their expenses on staff-(Vacation) from being entered into

the financial books for proper accounting purposes.

While the behavior of the MD shows that he has been praticising sharp practices with the company resources for a while and he should be ask to step down.

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Trade surpluses and trade deficits can be __________________ for an economy in certain circumstances.

Alla [95]

Answer:

C) Either a or b.

Explanation:

Trade surpluses occurs when a country exports more than it imports and trade deficit occurs when a country imports more than it exports.

Although economy of every country is different, some survive at imports and some at exports, c<em>ircumstances</em> also play an important role.

Such as the country has lack of money yet it's incurring a trade deficit this will be harmful. Take an example of Pakistan's economy, they have less money yet they are importing and this is harming their own economy.
When the country has lots of money, and it's importing goods from outside, it will be beneficial for it. Take an example of Saudi Arabia, they have money and they are importing goods from outside, which is not damaging their economy.

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