On january 1, the kings corporation issued 10% bonds with a face value of $96,000. the bonds are sold for $94,080. the bonds pay interest semiannually on june 30 and december 31 and the maturity date is december 31, ten years from now. kings records straight-line amortization of the bond discount. determine the bond interest expense for the year ended december 31 of the first year is.

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Retail industry fundamentals credential exam,part 1 all answers

Suppose that in the year 2020 the price level in the fictional country of demet is 100, and the governement is considering