Answer:
$306.67
Explanation:
The accrued interest is of 23 days which must be accounted for in the books of accounts.
The interest for 120 days = $80,000 * 6% * 120 / 360 = $1600
Now we will find interest for 23 days (July 31 MINUS 8 July).
Interest for 23 days = $1600 * 23 / 120 = $306.67
So the interest that has accrued at the end of the year is of 23 days and is $306.67.
Study showed that an active close to a cover letter is better in writing a cover letter
A close and active engagement will excite the employer and invite curiosity.It will make the employer feel that you understand them, therefore will lead to more interviews
Every action has a reaction and some come with consequences
Answer:
Revenue recognition
Explanation:
Correct word for the given statement is Revenue recognition
Revenue recognition is a proper accounting rule (GAAP) that distinguishes the particular conditions wherein income is perceived and decides how to represent it. Normally, income is perceived when a basic occasion has happened, and the dollar sum is effectively quantifiable to the organization.
$936.41 is the new price of the bond.
<u>Explanation:</u>
<u>New price of the bond after using the duration is calculated as follows:</u>
Purchase date = 01 june 2016, Maturity date = 01 june 2024, frequency = 1
Face value = $10000, Annual coupon rate = 5.20 percent, Yield to maturity = 6.40 percent,
NPER = 6.688257877
PMT = $52.00
New price of the bond = $936.41 ( rounded to two decimal places)
Note: I have used an excel formula so as to calculate the new price of the bond.
