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Brilliant_brown [7]
2 years ago
12

The _____ reports the financial position of a firm by identifying and reporting the value of the firm's assets, liabilities, and

owners' equity.
Business
1 answer:
Verdich [7]2 years ago
4 0

Answer:

balance sheet

Explanation:

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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
3 years ago
Which of the following factors has the greatest impact in calculating FICO scores? Select one of the options below as your answe
SSSSS [86.1K]
The right answer for the question that is being asked and shown above is that: "c. length of credit history."  the factor that has the greatest impact in calculating FICO scores is that c. length of credit history<span>
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4 0
3 years ago
Consider two markets: the market for cat food and the market for dog food. The initial equilibrium for both markets is the same,
Yakvenalex [24]

Answer:

Elasticity of supply for dog food = 0.95

Explanation:

From the question, we have:

New quantity supplied of dog food = 107.0

Old quantity supplied of dog food = Initial equilibrium quantity = 21.0

New price = $8.75

Old price = Initial equilibrium price = $1.50

Generally, the formula for calculating the elasticity of supply is as

follows:

Elasticity of supply = Percentage change in quantity supplied / Percentage change in price ................ (1)

Where, based on the midpoint formula, we have:

Percentage change in quantity supplied of dog food = {(New quantity supplied of dog food - Old quantity supplied of dog food) / [(New quantity supplied of dog food + Old quantity supplied of dog food) / 2]} * 100 = {(107.0 - 21.0) / [(107.0 + 21.0) / 2]} * 100 = 134.375%

Percentage change in price = {(New price - Old price) / [(New price + Old price) / 2]} * 100 = {(8.75 - 1.50) / [(8.75 + 1.50) / 2]} * 100 = 141.463414634146%

Substituting the values into equation (1), we have:

Elasticity of supply for dog food = 134.375% / 141.463414634146% = 0.94989224137931

Approximated to 2 decimal places, we have:

Elasticity of supply for dog food = 0.95

6 0
2 years ago
In the long run equilibrium, a monopolistic competitor will produce to the point at which A) actual average total costs are at t
Artemon [7]

Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.

Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.

3 0
3 years ago
An innovative change involves ______ complexity, cost, and uncertainty.
Reil [10]
The answer is moderate.
5 0
3 years ago
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