Answer: Please find answers in explanation column
Explanation:
Journal entry for Nexium & Associates
1.Journal to record Services provided in February.
Date Account Debit Credit
March 1 Accounts receivable $800
Service revenue $800
2.Journal to record purchase of furniture and supplies on account.
March 9 Office furniture $1,060
Office supplies $160
Accounts payable $1,220
3.Journal To record payment made to suppliers, Corner Office Inc.
March 15 Accounts payable $1,220
Cash $1,220
4.Journal To record the bill of electricity for march which is not yet due to be paid till April.
March 23 Electricity expense $430
Outstanding Liabilities $430
5.Journal To record the salary payment to employees.
March 31 Salaries expense $850
Cash $850
Answer: Vent should record $70,000
Explanation:
The requirement is to determine the amount of discount on the debentures that Vent should record at issuance.
ASC Topic 470 states that the proceeds from the issuance of debt with detachable stock warrants should be allocated between the bonds and the warrants based upon their relative fair values at the time of issuance.
In this case, the fair value of the bonds is not known, but the fair value of the warrants is $10 per warrant. Thus, the total fair value of the warrants is $20,000 ($10 × 2,000 warrants). The fair value of the debentures can be estimated to be $430,000 ($450,000 total proceeds – $20,000 fair value of warrants). The face value of the bonds $500,000 less the fair value of the bonds of $430,000 equals the bond discount of $70,000.
Answer:
Managers must ensure that their individual goals and work - as well as that of their direct reports - is in line with the overarching strategy. Then, you can ensure that your people are driving progress daily. Proper strategic alignment ensures the work of your best talent is being effectively and efficiently utilized
Answer:
1,187.03
Explanation:
he listing and selling broker each get 50% of the 7 5 commission.
The commission equal 7/100 x $96,900
Each broker gets =3,391.5
The selling broker (broker working with the buyer) get 35 % of 3,391.5
=35/100 x 3,391.5
=1,187.025
=1,187.03
Answer and Explanation:
The journal entry to record the tax provision is given below:
Income tax expenses $48,840,000
Deferred tax assets ($10,900,000 ×0.40) $4,360,000
To Deferred tax liability (($15,900,000 + $1,900,000)×0.40) $7,120,000
To Income tax payable ($129,000,000 ×0.40) $51,600,000
(To record income tax expenses)
Here the income tax expense and deferred tax asset should be debited as it increased the asset and expenses and credited the liability & tax payable as it increased the liability
