I need help with this question

Question 1 (1 point)

AlexFokin [52]

Answer: $75

Explanation:

After deduction all expenses and taxes, the balance left either at hand or in bank is the discretionary income.

8 0

2 years ago

On January 1, Year 1, Sayers Company issued $280,000 of five-year, 6 percent bonds at 102. Interest is payable semiannually on J

mel-nik [20]

Answer:

The cash received from bond issuance is journalized as follows:

Dr Cash $285,600

Cr Bonds payable $280,000

Cr Premium on Bonds payable $5,600

The June 30 and 31 December Year 1 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

31 December

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

The June 30 and 31 December Year 2 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

31 December

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

Explanation:

The amount realized from the bond is calculated thus:

$280,000*102%=$285,600

Premium on bond=Bonds proceeds-par value

=$285,600-$280,000

=$5,600

Semi-annual amortization of bond premium=$5,600/5*6/12

=$560

Semi-annual interest payment=$280,000*6%*6/12

=$8,400

5 0

2 years ago

Carla Vista Co. issued $590,000, 10-year, 7% bonds at 101. Prepare the journal entry to record the sale of these bonds on Januar

34kurt

Answer:

cash 595,900 debit

bonds payable 590,000 credit

premium on bonds 5,900 credit

Explanation:

We have to record the issuance of the bonds:

cash proceeds:

face value x quote:

590,000 x 101/100 = 595,900

face value (590,000)

premium 5,900

There is a premium as we are receiving more than we are going to pay at maturity.

We will debit the cash proceeds form the bond

and credit the bonds and premium

6 0

3 years ago

Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size. In the meantime, popul

frez [133]

Answer:

B. It increased, but it less than doubled

Explanation:

Real GDP per person is defined as the total economic output divided by the total number of people. It is used in roughly indicating the standard of living.

An increased in the nominal GDP 3 times its formal will lead to a proportionate increase in the GDP per person statistics. But I was a noted that there was a 100% increase in population, meaning that population doubled. This indicates that the GDP per person increased but it less than double because of the population doubling in that period of time.

7 0

3 years ago

Read 2 more answers

Bringing products and services to consumers in the u.s. that were previously available only in other countries is an advantage o

Nataly [62]

Bringing products and services to consumers in the u.s. that were previously available only in other countries is an advantage of: international trade.

<h3>What is meant by international trade?</h3>

This is the term that is used to refer to the trade that is carried out between two different nations.

It is when the nations are able to engage in buying and selling the goods that they have in their home countries and taking the ones that they do not have from other countries.

Hence we can say that bringing products and services to consumers in the u.s. that were previously available only in other countries is an advantage of: international trade.

Read more on international trade here: brainly.com/question/15115779

#SPJ1

8 0

1 year ago