Answer:
The Journal entry is as follows:
Bonds payable A/c Dr. $375,000
To Discount on Bonds payable $40,000
To Gain on redemption of the bonds $15,000
To Cash $320,000
(To record the redemption of the bonds)
Workings:
Gain on redemption of the bonds:
= Bonds payable - Discount on Bonds payable - Cash
= $375,000 - $40,000 - $320,000
= $15,000
Answer: Finance, purchasing, accounting, suppying
Explanation:
Retailing is known as a sub middleman in business that buys from the wholesaler and sells to the consumer in smaller quantity not as big as the wholesaler.
The following are activities of the retailer, although it might not be all followed by many retailers but depending on their ability and understanding
-Finance
-Purchasing
-Accounting
-Management Information System
-Supply management including warehouse and distribution management.
Bartering is done without C) money!
Recall how pioneers traded with each other goods.
Answer:
$94,000
Explanation:
Henry Jones contributed a cash of $53,300 to the partnership
The equipment had a book value of $25,500 and a market value of $32,900
The inventory had a book value of $51,900 and a market value of $16,000
The partnership assumed a note payable of $14,500 that was owed by Henry
Therefore, the amount that should be recorded in Henry's capital can be calculated as follows
= $53,300+$39,200+$16,000-$14,500
= $108,500-$14,500
= $94,000
Hence $94,000 should be recorded in Henry's capital account
Answer:
The answer is:
Helps the government and a homeowner with a fixed-rate mortgage
But hurts a union worker in the second year of a labor contract and a college that has invested some of its endowment in government bonds
Explanation:
The government: This unexpected Increase in inflation help the government in the sense that it reduces the real value of government debts(it erodes the purchasing power of the debtors). It also increases the tax revenue.
A homeowner with a fixed-rate mortgage: This unexpected Increase in inflation also pays this category because the interest rate he is paying for his mortgage is less than the prevailing interest rate.
A union worker in the second year of a labor contract: This unexpected increase hurts this worker because the terms of the contract would have been based on the expected inflation rate(3%) but for this unxpected increase, its purchasing power will be eroded.
A college that has invested some of its endowment in government bonds: It hurts the college because higher inflation rate means the college is receiving a lower interest payment from the bond.
