Which type of financing source performs the most strict, rigorous review of business records before guaranteeing financing?

The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm,

zepelin [54]

Answer:

$186,750

Explanation:

Urgent Messenger Service,INCOME STATEMENT for the year ended

Fees Earned 724,500

Less Expenses:

Salaries expenses 393,100

Rent expenses 75,000

Utilities expense 41,200

Depreciation expenses 10,650

Miscellaneous expenses 6,650

Supplies expense 6,150

Insurance expense 5,000

Net income (724,500-537,750 ) 186,750

6 0

4 years ago

True or False?

LiRa [457]

False. Here, the potential employer either calls or emails you "regarding the interview" not to have an actual interview" which is typically done face to face and in person. The employer asks the potential employee questions related to the job position to find out if he/she is qualified for the position,. Additionally, this allows the employer an opportunity to "see" this person, which is helpful for further evaluation.

3 0

3 years ago

Dove Corporation, a calendar-year C corporation, had the following information for 2019:

elixir [45]

Answer:

$1,032,260

Explanation:

Dove's unappropriated retained earnings balance as of December 31, 2016 = Unappropriated retained earnings balance on January 1, 2016 + Net income - Dividends distributions.

= 796,010 + 386,250 - 150,000.

= $1,032,260

Unappropriated retained earnings balance of Dove corporation as on December 31, 2016 is $1,032,260

3 0

4 years ago

On January 1, 2019, Commercial Equipment Sales issued 22,000 in bonds for 21700. These are six−year bonds with a stated interest

Veronika [31]

Answer:

$1,565

Explanation:

Interest expense = Interest payment + Amortization expense

also,

Interest payment = 22,000 × 14% × [ 6 ÷ 12 ] [∵ 6 ÷ 12 ; since payment are semiannual ]

Thus,

Interest payment = $1,540

and,

Amortization expense = [22,000 - 21,700 ] ÷ [6 × 2]

= $25

Therefore,

Interest expense = $1,540 + $25

= $1,565

3 0

4 years ago

The Cinci Company issues $100,000, 10% bonds at 103 on April 1, 2020. The bonds are dated January 1, 2020 and mature eight years

Snezhnost [94]

Answer:

$101,593.75

Explanation:

Total amortization period = 8 Years = 8 x 12 = 96 months

Number of months of Amortization = 9 months in 2020 + (3*12 months) till 2023 = 9 months + 36 months = 45 months

Premium on bonds payable = Issue Price - Face Value

Premium on bonds payable = ($100,000*103%) - $100,000

Premium on bonds payable = $103,000 - $100,000

Premium on bonds payable = $3,000

Unamortized premium = Premium on bonds payable - Amortized premium

Unamortized premium = $3,000 - $3,000*45/96

Unamortized premium = $3,000 - $1,406.25

Unamortized premium = $1,593.75

Carrying value on December 31,2023 = $100,000 + $1,593.75

Carrying value on December 31,2023 = $101,593.75

7 0

3 years ago