Business, 17.12.2019 19:31 monkeys450
On the first day of its fiscal year, chin company issued $18,400,000 of five-year, 8% bonds to finance its operations of producing and selling home improvement products. interest is payable semiannually. the bonds were issued at a market (effective) interest rate of 9%, resulting in chin receiving cash of $17,672,074.
journalize the entries to record the following (refer to the chart of accounts for exact wording of account titles):
(1) issuance of the bonds.
(2) first semiannual interest payment. the bond discount is combined with the semiannual interest payment. (round your answer to the nearest dollar.)
(3) second semiannual interest payment. the bond discount is combined with the semiannual interest payment. (round your answer to the nearest dollar.)
Answers: 1
Business, 22.06.2019 11:00
Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period
Answers: 3
Business, 22.06.2019 19:50
On july 7, you purchased 500 shares of wagoneer, inc. stock for $21 a share. on august 1, you sold 200 shares of this stock for $28 a share. you sold an additional 100 shares on august 17 at a price of $25 a share. the company declared a $0.95 per share dividend on august 4 to holders of record as of wednesday, august 15. this dividend is payable on september 1. how much dividend income will you receive on september 1 as a result of your ownership of wagoneer stock
Answers: 1
Business, 22.06.2019 22:00
Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.
Answers: 2
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