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2 years ago

10

The adjusted trial balance is prepared after financial statements are prepared. after adjusting entries have been journalized an

d posted. before the trial balance. to prove the equality of total assets and total liabilities.

1 answer:

lara [203]2 years ago

3 0

Answer: after adjusting entries have been journalized and posted.

Explanation:

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Lincoln Park Co. has a bond outstanding with a coupon rate of 6.04 percent and semiannual payments. The yield to maturity is 6.1

Reil [10]

Answer:

value of the bond = $2,033.33

Explanation:

We know,

Value of the bond, $B_{0} = [I * \frac{1 - (1 + i)^{-n}}{i}] + \frac{FV}{(1 + i)^n}$

Here,

Face value of par value, FV = $2,000

Coupon payment, I = Face value or Par value × coupon rate

Coupon payment, I = $2,000 × 6.04%

Coupon payment, I = $128

yield to maturity, i = 6.1% = 0.061

number of years, n = 15

Therefore, putting the value in the formula, we can get,

$B_{0} = [128 * \frac{1 - (1 + 0.061)^{-7}}{0.061}] + [\frac{2,000}{(1 + 0.061)^7}]$

or, $B_{0} = [128 * \frac{1 - (1.061)^{-7}}{0.061}] + [\frac{2,000}{(1.061)^7}]$

or, $B_{0} = [128 * \frac{0.3393}{0.061}] + 1,321.3635$

or, $B_{0} = [128 * 5.5623] + 1,321.3635$

or, $B_{0} =$ $711.9738 + 1,321.3635

Therefore, value of the bond = $2,033.33

3 0

3 years ago

As a business customer, every time you buy a product or service, you are creating a record of that transaction. Group of answer

aleksandrvk [35]

Answer:

True

Explanation:

A buisness customer records every transaction to see how the transaction was

6 0

3 years ago

Sneed Corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. The entry to record the transaction

NARA [144]

Answer:

a.Preferred Stock for $475,300

and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.

Explanation:

The par value it's a minimum price that the company assigns to the issued shares only to be used in the accounting system but it's not related to market price.

This par value will be shown as a separate value in the section of stockholders' equity, reported under the item Paid-in-Capital, the difference with the market price it's reported as Preferred Stock.

Cash $640.200 Debit

Preferred Stock $475.300 Credit

Paid-In Capital in Excess of Par—Preferred Stock $164.900 Credit

7 0

3 years ago

Eurocurrency is the euro, the common currency of Europe. is a time deposit of money in an international bank located in a countr

Leona [35]

Answer:

is a time deposit of money in an international bank located in a country different from the country that issued the currency.

Explanation:

In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.

The three (3) main functions of money all over the world are;

I. Medium of exchange.

II. Unit of account.

III. Store of value.

The European System of Central Banks (ESCB) which was established under the Treaty on European Union (TEU).

It comprises of the European Central Bank (ECB) and the national central banks of all the 27 European Union (EU) member states, irrespective of adopting the Euro (£) or not. This has helped the European Union (EU) member states to achieve tight corporations and memorandum of understanding (MOUs) such as TARGET2 (single payment system).

Eurocurrency is a time deposit of money in an international bank located in a country different from the country that issued the currency.

3 0

2 years ago

The Benson Bearing Company sells Textron, Inc. a quantity of baseball bats that were stored in an independent warehouse at the t

polet [3.4K]

Answer:

at the time it receives a negotiable warehouse receipt for the bats.

Explanation:

Benson Bearing Company is selling bats to Textron inc. The bats are stored at an independent warehouse not controlled by Benson Company.

Of the contract states that Textron will pick up the bats at the warehouse, the risk of loss passes to Textron when it recieved a negotiable warehouse reciept for the bats.

This is because the warehouse is not controlled by Benson Company and issuing a warehouse reciept is equivalent to delivering the goods to Textron.

7 0

3 years ago