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Harman [31]
2 years ago
14

Pincher Company purchased 50 Issac Company 12%, 10-year, $1,000 bonds on January 1, 2020, for $50,000. The bonds pay interest se

miannually on January 1. On January 1, 2021, after receipt of interest, Pincher Company sold 30 of the bonds for $28,300. Prepare the journal entries to record the transactions described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Business
1 answer:
Murljashka [212]2 years ago
4 0

Answer: Check attachment

Explanation:

The journal entries to record the transactions described above has been attached.

On 1st, January 2020, debt investment was debited by $50000 and cash was credited by $50000.

On 31st December 2020, interest receivable was debited by $6000 and interest received was credited by $6000.

On 1st January, 2021, Cash was debited by 6000 and interest received was credited by 6000.

Check attachment for further details.

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____ is a measure of the intensity of competitive behavior among companies in an industry. A. Bargaining power of firms B. Chara
MatroZZZ [7]

Answer:

The right answer is (B) Character of the rivalry.

8 0
3 years ago
Company ABC operates a nail salon that specializes in artificial nails. It has two primary __________, women who get their nails
sladkih [1.3K]

Answer:

Company ABC has two primary segments.

Explanation:

Market segmentation involves splitting up an organization's clients into groups  by putting people with similar characteristics in one group.

Similar characteristics could be age,sex,level of income and even level of literacy.

By segmenting markets,an organization is able to identify the customers who contribute most to its bottom line and decide on how to deal with them so as to keep them satisfied and ensured their repeat business

7 0
3 years ago
Match the academic requirements with the careers :
Vedmedyk [2.9K]

Answer:

a. Equal opportunity officer-Bachelors degree

b. Court reporter- Tech program

c. Security officer-High school diploma

Explanation:

a. Equal opportunity officer

An equal opportunity officer have the responsibility of formulating and ensuring policies that are not discriminatory and are in line with the best practice at the workplace. As the name suggests, they basically use policies that offer equal opportunity to all individuals without discrimination based on age, sex, religion and race. The following are typical duties and responsibilities of an equal opportunity officer;

1. They support and maintain legislation against workplace discrimination.

2. Offer advice to staff regarding equal opportunity practice at the workplace.

3. They work with other organizations that are also involved in equal opportunities.

4. They make sure that when there is a promotional opportunity, it is handled fairly.

5. Training courses regarding equal opportunities are designed and led by equal opportunity officers.

The minimum academic qualifications for becoming and equal opportunity officer is a Bachelors degree.

b. Court reporter

Court reporters are charged with the responsibility of transcribing oral information during a court session. They are also known as stenographers or steno-type operators. Some court reporters also offer real-time video-captioning for television proceedings. The y have the following duties;

1. Upon the judge's request, the court reporter can play back a portion or all of the proceedings.

2. Make written transcripts during court events

3. They can also request speakers to repeat inaudible speech or statements

4. Once the transcripts are written they also review them for typing errors.

Court reporting is a hands on career that needs a lot of training in typing and listening. The academic qualifications usually considered here is a Tech program where aspiring candidates are trained on how to be an effective court reporter.

c. Security officer

A security officer are trained officers whose main duty is in the protection of lives and property. They do this through strategies such as patrolling, monitoring and reporting. Security officers have to be vigilant and of high sense of integrity. Security officers have the following duties and responsibilities;

1. Monitoring to ensure that everything and everyone is safe.

2. Sounding alarms to alert others.

3. Reporting to higher authorities to prevent damages and losses.

4. Ensures security in building premises by patrolling the premises.

A security officer is an entry-level career that mostly requires a high school diploma.

4 0
2 years ago
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The r
Nata [24]

Answer:

Total cost for Job 9-1005 = $ 5,085

Explanation:

Calculation for total cost for Job 9-1005

Direct materials

Q-4698          $1,250

Q-4725          <u>$1,000</u>

<u>Total Direct material cost = $ 2,250</u>

Direct labor

W-3393          $ 600

W-3479          $ 450

W-3559          <u>$ 300</u>

<u>Total direct labour Cost = $ 1,350</u>

add: Overhead cost 110% of total direct labor cost: $1,350×110%= $1,485

Total Cost on Job is: $2,250+$1,350+$1,485 = $5,085

5 0
3 years ago
Concord Company had bonds outstanding with a maturity value of $311,000. On April 30, 2017, when these bonds had an unamortized
Dmitrij [34]

Answer:

<u>Redemption of Old Bonds</u>

4-30-17   Bonds Payable                              $311000 Dr

              Loss on Bond Redemption           $26550 Dr

                       Discount on Bonds Payable        $11000 Cr

                       Cash                                                $326550 Cr

<u>Issuance of New Bonds</u>

3-30-17   Cash                                                 $314110 Dr

                     Premium on Bonds Payable            $3110 Cr

                     Bonds Payable                                  $311000 Cr

Explanation:

<u>Redemption of Bonds Payable</u>

The maturity value for bonds payable is equal to the face value of these bonds. This means that the face value of old bonds was $311000.

The bonds were carrying a discount. Thus, the carrying value of bonds was

Carrying value = Face value - Discount

Carrying value = 311000 - 11000    =  $300000

Bonds with a carrying value of $300000 were redeemed at 105% of the face value. The cash paid for redemption is,

Cash paid = 311000 * 105%  =  326550

Thus, there was a loss on redemption of = 326550  -  300000  = $26550

<u />

<u />

<u>Issuance of Bonds Payable</u>

The bonds were issued at 101% of the face value which means they were issued at a premium.

The amount of premium on these bonds is,

Premium = Carrying value - Face value

Premium = 311000 * 101%  - 311000  

Premium = $3110

3 0
3 years ago
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