The formula is
I=prt
I interest paid 1120
p principle 32000
T time 4/12
R annual percentage interest rate?
Solve for r
R=I÷pt
R=1,120÷(32,000×(4÷12))
R=0.105×100
R=10.5%
Explanation:
The journal entries are shown below:
1. Building A/c Dr $176
Equipment A/c Dr $270
To Cash A/c $408
To Note payable A/c $38
(Being the building and the equipment is purchased for cash and note payable)
2. Cash A/c Dr $345
To Common stock $240 (120 shares × $2)
To Additional paid in capital A/c - Common stock A/c $105
(Being the common stock is issued for cash)
3. Retained earnings A/c Dr $145
To Dividend payable A/c $145
(Being the dividend is declared)
4. Short - term investment A/c Dr $7,616
To Cash A/c $7,616
(Being the short term investment is purchased for cash)
5. No journal entry is required
6. Cash A/c Dr $4,413
To Short - term investment A/c $4,413
(Being the short-term investment is purchased)
Answer:
The bond interest expense to be shown in profit or loss as t 30 June 2021
$9,838.56
Explanation:
The bond interest expense is the actual finance cost of using the funds made available by bondholders while the coupon payment is the portion of the finance cost paid to them periodically.
Interest expense=bonds cash proceeds*yield to maturity*6/12
bonds cash proceeds is $163,976
yield to maturity is 12%
interest expense=$163,976*12%*6/12=$9,838.56
Answer:
The correct answer is letter "B": Raw materials, work-in-process, finished goods, cost of goods sold.
Explanation:
The flow of costs reflects the way or route in which costs travel from a department to others inside a business cycle. This usually applies to manufacture companies where it is needed to appraise the<em> raw materials, work in process, finished goods supply, </em>and <em>cost of goods sold</em>. The flow of costs can be used in other processes where costs are inherently attached like labor.
The fed can supply funds to the markets in the case of a financial panic because they are the lender of last resort.
What is markets?
The term “market” refers to the exchange of commodities and services. A market mainly involves the buyer and seller. Types of markets, such as perfect competition, monopoly markets, monopolistic competition, and oligopoly markets.
Financial panic of the condition as supply fund markets to fed as last option was of lender of last resort. The term lender of last resort define as loan of those banks are faced by the financial difficulties.
As a result, the condition of the financial panic are fund supply in the market there is last option is lender of last resort.
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