Do i need a LLC for a lipgloss business

Porter Incorporated issued $210,000 of 6 percent, 10-year, callable bonds on January 1, Year 1. The bonds were issued at their f

pshichka [43]

Answer:

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

Explanation:

Porter Incorporated Journal entries

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

(102%×$210,000=$214,200)

7 0

2 years ago

Hazel owns an event planning company that specializes in very high-end events. Several years ago, Hazel purchased a magnificent

Nastasia [14]

Answer:

D. If Hazel sells the chocolate fountain for $3,300, she will have a $1,500 capital gain.

Explanation:

I´m assuming that Hazel is a person that owns this event planning company.

The current book value of the chocolate fountain = purchase cost - accumulated depreciation = $3,000 - $1,200 = $1,800

If the chocolate fountain (or any asset) is sold at a higher price than book value, then a capital gain must be recognized. If the chocolate fountain is sold at a lower price than book value, then a capital loss should be recognized.

$3,300 (selling price) - $1,800 (book value) = $1,500 capital gain

6 0

2 years ago

On January 1 of this year, Avaya Corporation issued bonds with a face value of $ 2,000,000 and a coupon rate of 6 percent. The b

ra1l [238]

Bonds Payable amount reflected in balance sheet = $2192890

Face Value = $2000000

Coupon Rate = 10%

Maturity Period = 10 years

Number of compounding = 2

Interest = $2000000 * 10% * 6/12 = $100000

Period = 2 * 10 = 20

Maturity Value = Face Value = $2000000

Market Interest Rate semiannually = 0.085 / 2 = 0.0425

Market Value = Present Value of Future Cash Flows

= PV of Interest + PV of maturity value

= (Interest * PVAF (4.25%, 20)) + (Maturity Value * PVIF (4.25%, 20))

= (100000 * 13.29437) + (2000000 * 0.434989)

= $1329437 + $869978

= $2199415

Since market value is greater than face value, we can say that bonds are issued at a premium.

Premium = $2199415 - $2000000 = $199415

Journal Entry to record the issuance of bonds:

Cash a/c Dr $2199415

To Bonds Payable a/c $2000000

To Premium on the issue of bonds $199415

Bonds Payable amount is a liability account that carries the quantity owed to bondholders by way of the company. This account usually seems in the lengthy-term liabilities section of the stability sheet, on account that bonds usually mature in more than one year.

Learn more about Bonds Payable amount here: brainly.com/question/7158291

#SPJ4

6 0

1 year ago

If there r 15 dollers on a table 5 people grab 3 how many are left

NISA [10]

Okay, so we start out with $15. Then 5 people take $3. All we have to do is <u>multiply</u> 5 by 3

5 x 3 = 15

Therefore, there will be <u>no</u> money left.

Hope this helps you

Brainliest would be appreciated

-AaronWiseIsBae

8 0

2 years ago

Read 2 more answers

Company A estimates that it needs 30% of sales in net working capital. In year 1, sales were $1 million and in year 2, sales wer

Andrew [12]

Answer:

The answer is B.

Explanation:

Working capital is current assets minus current liabilities. Working capital is a measure of liquidity. It is a very important metric.

In year 1:

Sales $1,000,000

30% of sales in net working capital is:

0.3 x $1,000,000

$300,0000

In year 2:

Sales $2,000,000

30% of sales in net working capital is:

0.3 x $2,000,000

$600,0000

The change in working capital is:

$600,0000 - $300,0000

= $300,0000

Therefore, company A

needs to make a cash investment (outflow) of $300,000 to increase their net working capital from the sales in Year 1 to Year 2.

4 0

3 years ago