The answer to your question is D
Explanation:
The computation is shown below:
It records the two items i.e
Tax Anticipation Notes Payable = $1,000,000
And, the expenditure is recorded for
= Tax Anticipation Notes Payable × tax rate × number of months ÷ total number of months in a year
= $1,000,000 × 4% × 6 months ÷ 12 months
= $20,000
Both the above items are debited for $1,000,000 and $40,000 respectively
Answer:
No silly! :)
Explanation:
Zero-based budgeting is a repeatable process that organizations use to rigorously review every dollar in the annual budget, manage financial performance on a monthly basis, and build a culture of cost management among all employees. Basically, all budgets must be justified for each monthly period.
Answer:
($ in million)
Dr Cash 81.6
Dr Discount on bonds payable 2.8
Cr Bonds payable80.0
Cr Equity-stock warrants outstanding 4.4
Explanation:
Preparation of the journal entry to record the issuance of the bonds.
($ in million)
Dr Cash 81.6
(80,000,000 X 102/100 = $81.6 million)
Dr Discount on bonds payable 2.8
(80+4.4-81.6 = $ 2.8 million balancing figure)
Cr Bonds payable 80.0
Cr Equity-stock warrants outstanding 4.4
($5 × 11 warrants × 80,000 bonds= $4.4 million)
(Being To record issuance of bonds)
