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inysia [295]
3 years ago
15

On July 1, Year 4, Pell Co. purchased Green Corp. 10-year, 8% bonds with a face amount of $500,000 for $420,000. The bonds are c

lassified as held-to-maturity, mature on June 30, Year 14, and pay interest semiannually on June 30 and December 31. Using the interest method, Pell recorded bond discount amortization of $1,800 for the 6 months ended December 31, Year 4. From this long-term investment, Pell should report Year 4 revenue of:
Business
1 answer:
Kruka [31]3 years ago
6 0

Answer:

<em>Options Include:</em>

A. $20,000

B. $16,800

C. $18,200

<em>D. $21,800 is Correct</em>

Explanation:

Interest income for a bond provided at a discount is equal to the total of both the periodic cash flows as well as the value of the amortized bond discount during the interest duration.

Periodic cash flows are equivalent to $20,000 ($500,000 death benefit multiply by 8 percent coupon rate multiply 1/2 year). The amortization for the discount is provided as $1,800.

<em>Income for the six-month period from July 1 to December 31, Year 4, is therefore $21,800 ($20,000 + $1,800).</em>

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An aging of a company's accounts receivable indicates that $8400 are estimated to be uncollectible. If Allowance for Doubtful Ac
Alexxandr [17]

Answer: Debit to bad debt expense for $3580.

Explanation:

Based on the information given, the bad debt expense will be:

= Desired balance - Actual balance before adjustment

= $8400 - $4820

= $3580

Based on the above, the journal entry will be:

Debit Bad debt expense $3580

Credit Allowance for uncollectible $3580

8 0
3 years ago
Which of the following are possible amounts for the third check and the cash that cindy deposited
Neko [114]

$122.04 in cash and a $206.64 check will be the possible amounts for the third check and the cash that cindy deposited.

Any household member who possesses an SSN is eligible to receive a payment under the third check. This is distinct from the first and second stimulus payments, which required at least one tax filer to have an SSN in order for the household to be eligible to receive the checks. Your third stimulus check, like the first two, is basically merely an advance payment of the Recovery Rebate tax credit for the 2021 tax year. Therefore, it won't be counted toward your taxable income. Similar to the first and second stimulus checks, there are income requirements in order to get the entire payout. No minimum income is required to be eligible for the payment.

the complete question is:

Which of the following are possible amounts for the third check and the cash that Cindy deposited?

a. no cash and a $303.68 check

b. $140.50 in cash and a $267.14 check

c. $99.32 in cash and a $155.55 check

d. $122.04 in cash and a $205.64 check

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6 0
1 year ago
Why is VisionSpring, an organization devoted to the problem of poor eyesight in the developing world, classified as a hybrid mod
JulsSmile [24]

VisionSpring can be classified as a hybrid model of social entrepreneurship since it is devoted to the problem of poor eyesight in the developing world which is a social issue.

It should be noted that social entrepreneurship mixes economic logic with social logic.

Hybrid organizations are the enterprises that design the business models in order to alleviate a particular environmental or social issue. Since VisionSpring is devoted to the problem of poor eyesight in the developing world, it's a hybrid organization.

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4 0
2 years ago
The gdp deflator for this year is calculated by dividing the using by the using and multiplying by 100. However, the cpi reflect
leonid [27]

The GDP deflator for this year is calculated by dividing the used by the using and multiplying by 100.  However, the CPI reflects only the prices of all goods and services; therefore the correct option is True.  

The GDP deflator for this year is determined by multiplying by 100, then dividing the value of all goods and services produced in the economy this year at prices from this year by the value of all goods and services produced in the economy this year at prices from the base year. The CPI, however, only includes the costs of all consumer purchases of goods and services.

The CPI, a different economic term used to describe the consumer price index, and the GDP deflator are closely related. The GDP deflator can determine if there was inflation or deflation in the national economy for a specific year by using the CPI.

Therefore the correct option is True.  

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6 0
9 months ago
Which of the following statements is true of quid pro quo harassment? Group of answer choices
alekssr [168]

Answer:

yes all the points are correct.

Explanation:

Quid pro quo is a latin term which means a favour granted in return for something. In United states there are two forms of labor laws dealing with workplace sexual harassment that are Quid Pro Quo harassment and Hostile work environment harassment. Under this the employers offer higher posts or hiked salaries to the employees as against sexual satisfaction. Its totally the choice of the employee to accept the offer or not. If in case they are not comfortable with it and are forced for it then the victim can file a case against such an issue with the State or the Federal Law.

The Plaintiff have to prove the  charges regarding the hostile working conditions at the owrkplace where once proved right the plaintiff will get remedies like Hiring back , Payment or medical aids etc.

Yes a supervisor is held guilty of misconduct even if he uses a verbal form of sexual harassment like jokes or statements which can be sexual in nature.

Yes a company can be held liable for quid pro quo or hostile work environment harassment on behalf of the supervisors because they are a part of the company where punitive action can be taken against them in the form of demotion or firing.

3 0
3 years ago
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