When bonds are issued at their face amount, the journal entry will include a __________ to _________

Cotton created the antebellum South. The wildly profitable commodity opened a previously closed society to the grandeur, the pro

Amiraneli [1.4K]

Answer:

Slavery in the southern US began to expand in the Virginia Colony with the tobacco plantations in the Chesapeake area. It expanded southwards with time, first to the Carolinas, were slaves were imported to work in Rice Plantations, and, finally the Georgia colony.

However, cotton began to replace tobacco, rice and sugar in the South, because it was more profitable, and suited better the soil and climate of the region. With the cultivation of cotton, slavery became widespread in the US. The majority of slaves were "imported" from the end of the 17th century to the first decades of the 18th century.

Cotton plantations made then, slavery institutions of the antebellum South widespread, strong and entrenched. The economics of the South practically depended on slavery, just like the economics of the Roman Empire a millenium ago.

5 0

3 years ago

A factory machine was purchased for $125,000 on January 1, 2012. It was estimated that it would have a $25,000 salvage value at

zalisa [80]

Answer:

Annual depreciation 2012= $10,000

Explanation:

Giving the following information:

Purchase price= $125,000

Salvage value= $25,000

Useful life in hours= 40,000

The company ran the machine for 4,000 actual hours in 2012.

<u>To calculate the depreciation expense in 2012, we need to use the following formula:</u>

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= [(125,000 - 25,000)/40,000]*4,000

Annual depreciation= 2.5*4,000

Annual depreciation= $10,000

8 0

3 years ago

11.Jones and company had a balance in their retained earnings account at the end of 2020 in the amount of 990,000. They have for

Allisa [31]

Answer:

$210,000 and $1,200,000

Explanation:

The computation is shown below:

Given that

Ending Balance in retained earnings = $990,000

Net income = $350,000

Dividend paid in 2021 is

= 40% of net income

= 40% of $350,000

= $140,000

So, the Addition to retained earning is

= Net income - dividends

= $350,000 - $140,000

= $210,000

Now the ending balance in retained earnings is

= Beginning balance in retained earnings + addition to retained earnings

= $990,000 + $210,000

= $1,200,000

8 0

4 years ago

Internal control systems are:________.

lakkis [162]

Answer: Internal control system are required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company).

Explanation:

Internal controls are the procedures mechanisms and rules implemented by a business to ensure the integrity of its accounting and financial information, promote accountability, and also prevent fraud.

Besides complying with regulations and law and hindering employees from commiting fraud or stealing assets, internal controls can improve operational efficiency through the improvement in the timeliness and accuracy of financial reporting.

Internal controls are a vital business function for every company in the United States since the accounting scandals that occurred in the early 2000s. The Sarbanes Act of 2002 was to improve accuracy of corporate disclosures and protect investors from fraudulent activities.

4 0

3 years ago

Read 2 more answers

The efficiency wage ______. A. is paid by firms who can't directly monitor the work effort of their employees B. is equal to t

lubasha [3.4K]

Answer:

A. is paid by firms who can't directly monitor the work effort of their employees

Explanation:

The efficiency wage refers to a wage that is greater than the equilibrium wage which firms pay to employee voluntarily in order to bring about higher productivity and profits.

The efficiency wage is usually paid in order to avoid "shirking" (screwing around) when it is not possible for firms to directly monitor the work effort of their employees.

Screwing around implies wasting time by enganging in unproductive activity.

Therefore, the theory of effiiciency wage predicts that amployees are motivated to harder ans smarter when they are paid an efficiency wage when it is not possible for firms to directly monitor the work efforts of the employees.

6 0

4 years ago

When bonds are issued at their face amount, the journal entry will include a __________ to __________.

When bonds are issued at their face amount, the journal entry will include a to .