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professor190 [17]
3 years ago
12

Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the que

stions displayed below.] Claire Corporation is planning to issue bonds with a face value of $120,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)1: 1. Provide the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)3. What bonds payable amount will Claire report on this year’s December 31 balance sheet? (Round your final answers to nearest whole dollar amount.)
Business
1 answer:
Nitella [24]3 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Assuming a current ratio of 1.00 and an acid test ratio of .75 how will the purcahse inventory with cash affect each ratio
MAVERICK [17]

The current ratio will remain the same as 1 only

The acid-test ratio will decrease.

  • The current ratio will stay the same because there won't be a change in current liabilities, and the change in current assets won't have any net consequences because the asset will grow due to an increase in inventory, but it will also decrease by the same amount due to a decrease in cash, so the current ratio will stay the same.
  • The acid-test ratio will decline since the numerator will shrink owing to a cash shortage, and the growth in inventory won't be taken into account because current assets aren't included in this ratio.

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8 0
1 year ago
Pure monopoly refers to Multiple Choice any market in which the demand curve for the firm is downsloping. a standardized product
skelet666 [1.2K]

Answer:

a single firm producing a product for which there are no close substitutes.

Explanation:

A pure monopoly is a single supplier having a market or industry i.e. defined. The firm should be considered as an industry also in this there is no competitor or any subsitution existed. It can be arise at the time when the market share of the one firm is more than 90%

So as per the given situation, the above represent the answer

5 0
2 years ago
Item9 5 points eBook ReferencesItem 9Item 9 5 points Item Skipped Determine whether each of the following statements is positive
lubasha [3.4K]

Answer:

Positive statement is defined as the statement which are fact based and tells us the reality and these statements can be tested, amended or rejected on behalf of the evidence.

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(a) Positive statement

(b) Normative Statement

(c) Normative Statement

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5 0
3 years ago
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Sphinxa [80]

Answer:

Modify Your Auto Loan.

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Trade-in Your Car.

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5 0
2 years ago
What is suggestive selling? Have you experienced an example of this? If so, describe the experience. Why do restaurants use sugg
Blizzard [7]

Answer:

Explanation:

Suggestive selling is when someone recommends a better version of the product which you are purchasing or even recommends another totally different product that may suit your individual needs better. Almost everyone has experienced this in some capacity before. For example, any time you go to a fast-food chain they always ask if you would like to increase the size of your order (super-size) for a small additional fee. This is suggestive up-selling, and companies do this because they make additional profit from these items that they are suggesting.

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