The Crafty Corporation will record the following Journal Entries:
1. Dec. 31, 2026:
Debit Interest Expense $28,325
Credit Discount amortization $3,325
Credit Cash $25,000
To record the first interest payment and amortization of discount.
2. Dec. 31, 2027:
Debit Interest Expense $28,525
Credit Discount amortization $3,525
Credit Cash $25,000
To record the second interest payment and amortization of discount.
Data and Calculations:
Cash proceeds from bonds issuance = $472,088
Face value of bonds = $500,000
Discounts on bonds = $27,912 ($500,000 - $472,088)
Coupon interest rate = 5%
Market interest rate = 6%
Maturity period = 7 years
December 31, 2026:
Interest expense = $28,325 ($472,088 x 6%)
Cash paid = $25,000
Discount amortization = $3,325 ($28,325 - $25,000)
Bond's value = $475,413 ($472,088 + $3,325)
December 31, 2027:
Interest expense = $28,525 ($475,413 x 6%)
Cash paid = $25,000
Discount amortization = $3,525 ($28,525 - $25,000)
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Challenges of internship simulation workshop
Answer:
online payments
Explanation:
People often encounter different kinds of issues. Challenges of internship simulation workshop are:
It is difficult finding the right step and also the right talent.There is the issue of relocation, housing, and transportation issues.There is the challenge of understanding terms, finding right and fit wise talent.Difficulty in the level of comprehension among student.There is a an issue of small or the lack of awareness.What is an internship simulation workshop?This is a type of workshop that student are required to engage in. The workshop is know to be divided into modules.
It is aimed to expose students to the different realities of the world of work. This is done through simulations and scenario-based analysis where there is the application of concepts and theories which the student have learnt to practical situations.
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1 - At the Montell Company, functions are divided into areas of specialization such as production, marketing, accounting, and finance. This type of organization reflects Fayol's principle of: A. division of labour. B. equity. C. unity of command. D. hierarchy of authority. to describe middle managers whose job was to implement the 2 - Max Weber used the term orders of top management: A. management B. autocrats C. staff personnel D. bureaucrats
At the Montell Company, since the functions are divided into areas of specialization such as production, marketing, accounting, and finance, it reflects Fayol's principle of division of labor.
Max Weber used the term bureaucrats to describe middle managers. Their job is usually to implement the orders that they get from top management.
It should be noted that division of labor is when the roles that'll be performed in an organization are divided into various departments. This is done in order to make the job easier and faster.
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Solo wants to store her tax returns, her will, and her budget in a location where she can quickly retrieve these records for review and revision.
What is the MOST logical thing for Solo to do with these records?
ОА
Place them in a paid storage facility.
ОВ.
Don't store them; they should be shredded.
Ос.
Save them to a computer file.
OD
Store them in a safe deposit box.
Answer:
Save them to a computer file.
Explanation:
Just took the test, and this is the answer.
The ________ tells managers how much of the overall variance is due to paying a higher or lower price than expected for the quantity of materials it purchased.
Sullivan Equipment Sales showed the following.
2020
Jan. 15 Sold $25,200 of merchandise for $29,400 to JanCo; terms 3/5, n/15.
16 Wrote off Fedun’s account in the amount of $15,200.
20 Collected the amount owing from the January 15 sale.
Mar. 1 Accepted a $12,080, 60-day, 7% note dated this day in granting Parker Holdings a time extension on its pastdue account.
Apr. 15 Sold merchandise costing $62,200 for $71,400 to customers who used their Visa credit cards. Visa charges a 1% fee and deposits the cash electronically into the retailer’s account immediately at the time of sale.
? Parker Holdings honoured the note dated March 1.
Nov. 1
Accepted a $24,400, three-month, 6% note dated this day in granting Grant Company a time extension on its past-due account.
Dec. 31 Sullivan’s year-end. Interest was accrued on outstanding notes receivable.
31 Bad debts are based on an aging analysis that estimated $9,700 of accounts receivable are uncollectible. Allowance for Doubtful Accounts showed an unadjusted credit balance of $1,620 on this date.
2021
? Grant Company dishonoured its note dated November 1, 2020.
Mar. 5 Recovered $1,500 from Derek Holston that was previously written off.
14 Wrote off the Grant Company account.
Required:
a. Determine the maturity dates of the March 1 and November 1 notes.
b. Prepare entries as appropriate for each date. (Round the final answers to 2 decimal places. Use 365 days an year.)
Sullivan’s receivable turnovers at December 31, 2020 and 2021 were 7 and 7.5, respectively. Select the correct option for whether the change in the ratio for Sullivan was favourable or unfavourable.
a. The maturity date of the March 1 note is April 29 and that of November 1 note is Jan. 29.
b. Journal Entries:
2020
Jan. 15 Debit Cost of goods sold $25,200
Credit Inventory $25,200
Debit Accounts Receivable (JanCo.) $29,400
Credit Sales Revenue $29,400
terms 3/5, n/15.
Jan. 16 Debit Allowance for Doubtful Accounts $15,200
Credit Accounts Receivable (Fedun) $15,200
Jan. 20 Debit Cash $28,518
Debit Cash Discounts $882
Credit Accounts Receivable (JanCo.) $29,400
Mar. 1 Debit Notes Receivable $12,080
Credit Accounts Receivable (Parker Holdings) $12,080
60-day, 7% note
Apr. 15 Debit Cost of goods sold $62,200
Inventory $62,200
Debit Cash from Visa $70,606
Debit Visa Card Expense $714
Credit Sales Revenue $71,400
April 29 Debit Cash $12,219
Credit Accounts Receivable (Parker Holdings) $12,080
Credit Interest Received $139
Nov. 1 Debit Notes Receivable $24,400
Credit Accounts Receivable (Grant Company) $24,400
three-month, 6% note
Dec. 31 Debit Interests Receivable $244.67
Credit Interest Income $244.67
($24,400 x 6% x 61/12)
Dec. 31 Debit Bad Debts Expense $9,700
Credit Allowance for Doubtful Accounts $9,700
2021
Jan. 29 Debit Accounts Receivable (Grant Company) $24,760.99
Credit Notes Receivable $24,400
Credit Interests Receivable (Grant Company) $244.67
Credit Interest Income $116.32
dishonoured its note dated November 1, 2020.
Mar. 5 Debit Accounts Receivable (Derek Holston) $1,500
Credit Allowance for Doubtful Accounts $1,500
Debit Cash $1,500
Credit Accounts Receivable (Derek Holston) $1,500
Mar. 14 Debit Allowance for Doubtful Accounts $24,760.99
Credit Accounts Receivable (Grant Company) $24,760.99
Data Analysis:
2020
Jan. 15 Cost of goods sold $25,200 Inventory $25,200 Accounts Receivable (JanCo.) $29,400 Sales Revenue $29,400 terms 3/5, n/15.
Jan. 16 Allowance for Doubtful Accounts $15,200 Accounts Receivable (Fedun) $15,200
Jan. 20 Cash $28,518 Cash Discounts $882 Accounts Receivable (JanCo.) $29,400
Mar. 1 Notes Receivable $12,080 Accounts Receivable (Parker Holdings) $12,080 60-day, 7% note
Apr. 15 Cost of goods sold $62,200 Inventory $62,200 Cash from Visa $70,606 Visa Card Expense $714 Sales Revenue $71,400
April 29 Cash $12,219 Accounts Receivable (Parker Holdings) $12,080 Interest Received $139
Nov. 1 Notes Receivable $24,400 Accounts Receivable (Grant Company) $24,400, three-month, 6% note
Dec. 31 Interests Receivable $244.67 Interest Income $244.67 ($24,400 x 6% x 61/12)
31 Bad Debts Expense $9,700 Allowance for Doubtful Accounts $9,700
Allowance for Doubtful Accounts showed an unadjusted credit balance of $1,620 on this date.
2021
Jan. 29 Accounts Receivable (Grant Company) $24,760.99 Notes Receivable $24,400 Interests Receivable (Grant Company) $244.67 Interest Income $116.32
dishonoured its note dated November 1, 2020.
Mar. 5 Accounts Receivable (Derek Holston) $1,500 Allowance for Doubtful Accounts $1,500 Cash $1,500 Accounts Receivable (Derek Holston) $1,500
Mar. 14 Allowance for Doubtful Accounts $24,760.99 Accounts Receivable (Grant Company) $24,760.99
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A Virginia county is considering whether to pay $50,000 per year to lease a prisoner transfer facility in a prime location near Washington, D.C. They estimate it will cost $50 per prisoner to process the paperwork at this new location. The county is paid a $75 commission for each new prisoner they process. What would be the county's annual profit if they were to process 4,000 prisoners per year at this new location
Based on the information given the county's annual profit if they were to process 4,000 prisoners per year at this new location is $50,000.
Annual profit=Total revenue-Total cost
Where:
Total revenue=(4,000×$75)=$300,000
Total cost=[(4,000×$50)+$50,000]=$250,000
Let plug in the formula
Annual profit=(4,000×$75)-[(4,000×$50)+$50,000]
Annual profit=$300,000-($200,000+$50,000)
Annual profit=$300,000-$250,000
Annual profit=$50,000
Inconclusion the county's annual profit if they were to process 4,000 prisoners per year at this new location is $50,000.
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HELP ME
Which of the following is TRUE concerning the Master Layout dialog box?
Can be opened by clicking Master Layout on the Slide Design tab
Allows you to add a placeholder for an image
Allows you to add a text placeholder
Allows you to add a background to a slide
The option that is true about the Master Layout dialog box is C. Allows you to add a text placeholder.
The Master Layout dialog box simply refers to the tip slide in the hierarchy of slides that is vital in storing information about the side layouts and theme in a presentation.
The Master Layout dialog box is also vital in storing information about background, color, effects, fonts, etc. It also allows the user to add a text placeholder.
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Why Does a Taxi To Gatwick Airport Make So Much Sense?
Answer:
Because se seen is very beautiful no te jode
Explanation:
If you go by car blalalal is more goood
How can big data can use to achieve banking
Answer:
Track customer spending patterns.
Segment customers based on their profiles.
Implement risk management processes.
Personalize product offerings.
Incorporate retention strategies.
Collect, analyze, and respond to customer feedback.
Explanation:
Big data solutions in banking allow companies to collect, make sense of and share branch (as well as individual employee) performance metrics across departments in real time. This means better visibility into the day-to-day operations and an elevated ability to proactively solve any issues.
Which of the following is NOT a duty imposed on partners?
a.
- Disclosure of full information.
b.
- To account for benefits received.
c.
- Good faith.
d.
- Fidelity (where the partner enters a partnership in another, unrelated, industry).
Answer:
to account for benefits received
How do early retirement affect on business activity?
Answer:
Under early retirement, workers who retire early are awarded an early retirement pension, while those who retire at mandatory age receive the full pension. In this setting, early retirement persistently distorts the human capital accumulation decision of the low-ability types, and thus reduces economic growth.
Mention five (5) reasons why some business plan fail
Answer:
any five reasons why business fail are :
due to low investment or budget
due to lack of demand of customers
due to lack of knowledge of that business
You see on a commercial that OrangeCo is offering a credit card with a 5% cashback program for all cardholders. Which question might help you evaluate how good this offer is?
A.) Does the cashback program apply to all purchases or only specific types of purchases like gas and groceries?
B.) Can I get a debit card along with a new credit card?
C.) Who does OrangeCo use as their spokesperson in the commercial?
D.) Do I still get the cash back even when I return my purchases to the store?
An excellent question to determine how good the offer is, is A.) Does the cashback program apply to all purchases or only specific types of purchases like gas and groceries?
When checking how good an offer is, some important things to find out are:
How extensive is the offer How much does the offer result in you saving Who does the offer apply toThe question in option A reflects the extensiveness of the offer and so it is a great question to ask when assessing the offer as it would show just which products can be purchased.
In conclusion, option A is correct.
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If Pizza Hut uses digital media along with more traditional newspaper ads to create a more synchronized and consistent message for customers, it is most likely engaging in
The creation of a synchronized and consistent message for the customers of Pizza Hut using digital media and traditional newspaper ads shows that Pizza Hut is most likely engaging in: Integrated Marketing Communications (IMC).
What is Integrated Marketing Communications (IMC)?Integrated Marketing Communications (IMC) can be described as the promotion and the application of marketing efforts in consistently passing a persuasive message that has impact on customers.Various promotion elements are synchronized to improve the effectiveness and efficiency of budget allocated to promotion.Thus, the creation of a synchronized and consistent message for the customers of Pizza Hut using digital media and traditional newspaper ads shows that Pizza Hut is most likely engaging in: Integrated Marketing Communications (IMC).
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What is the 4 MAJOR
ELEMENTS OF A TORT
What is 4 major elements of a tort
What is the 4 major elements of a tort
Answer:
- The presence of a duty. We all have a duty to take steps to prevent injury from occurring to other people.
- The breach of a duty. The defendant must have failed to live up to his duty to prevent injury from occurring to you.
- An injury. You were injured.
- The injury resulted from the breach.
Explanation:
Hope this helps.
Which interpersonal skills are used to create long-lasting connections with those around you?
O Communication skills
O Listening Skills
O Negotiation skills
O Relationship-building skills
The interpersonal skills that are used to create long lasting connections with those around you are Relationship-building skills.
Interpersonal skills are those skills and tactics that are used by people to have an effective communication and relationship with others. While some people are born with this skill, for others it is learnt.
Relationship building skills help to develop long lasting relationship with other people.
A person with this skill
Is A good listenerHas empathyThinks of othersPays attention to othersKnows how to say the right wordsRead more on https://brainly.com/question/24459568?referrer=searchResults
Answer:
O Relationship-building skills
Explanation:
got right on test
When a manager speaks to an employee, the employee pays the most attention to: Nonverbal communication Verbal communication
In American business culture, when a manager is speaking to an employee, the employee should pay more attention to Nonverbal communication.
When an employee is talking to a manager:
The manager will not give complete instructions The manager will expect the employee to take some sort of leadThe only way the employee will be able to know these things is by paying attention to the nonverbal communication cues of the manager.
In conclusion, employees pay more attention to nonverbal communication.
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2. Who are teachers? Write any two works of teachers.
Answer:
Teacher are those person who teach us and Help us for a future Work
Their two work are:-
1).They teach us
2):- They teach us moral value and norms
a. Suppose the Federal Reserve wants to increase the money supply. What should it do to accomplish this goal
If the Federal reserve want to increase the money supply what they would do would be to reduce or lower the discount or the interest rate in the economy.
When the interest rate is lowered, it would discourage savings. There would be an increase in the consumption of goods and services in the economy.
Also lowering the discount rate is going to cause the banks to want to borrow more reserves from the Fed. It would then be able to create more loans.
This would lead to a raise in the money supply.
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write the interrelationship between education and profession
Explanation:
in order to have a profession you need to get an education first ... if you start out working along side someone,that someone is giving you an education in how to do the job you want to do. if you are planning a profession such as a doctor or a lawyer , prepare yourself for a lot of education..
How should Hollywood movie studios take advantage of these opportunities, while mitigating the threats
Answer:
yes
Explanation:
How does Lexie’s current interview technique limit her effectiveness as an interviewer
Interviews often takes different forms. Lexie's current interview technique limits her effectiveness as an interviewer as the wide latitude of these nondirective interviews can result in low reliability and often poor validity.
Interviewing is simply the process whereby individuals do exchange information. The individuals is often interested with a job opening, a promotion, a special assignment etc.
Interviewing in some of business setting do takes place in an atmosphere that is filled with a sense of urgency as the time allocated to the interview is little.
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You manage the worksheet shown below and it contains information for the company's 1500 employees,
You are asked to provide a list of all of the employees who are full time and make more than $45,000 per
year. What is the best way to create the list?
Answer:
3
Explanation:
You manage the worksheet shown below and it contains information for the company's 1500 employees. You are asked to provide a list of all of the employees who are full time and make more than $45,000 per year.
The best way for you to create the list of those who make more than $45000 a year and are full time is by using the filter option.
The filter option would be used to highlight the people that are in full employment. After this you have to use the sort to check the compensation column in order to establish those that make more than 45000.
The filter in a spreadsheet helps to put data in a particular category then arrange them based on the criteria that you selected.
The sorting method helps to arrange data based on ascending order or descending order.
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Heidi Ganahl, CEO and Founder of Camp Bow Wow, seems to have the ability to inspire people she works with to accept her vision and support her efforts to be the best. This is an example of:
Answer:
good leadership
Explanation:
The fact that she inspires and not demands is an example of good leadership skills
Heidi Ganahl, CEO and Founder of Camp Bow Wow, seems to have the ability to inspire the people she works with to accept her vision and support her efforts to be the best. This is an example of Charismatic leadership.
Who is a leader?The term leader is someone who inspires passion and motivation in followers. A leader is someone with a vision and the path to realizing as we see there are different types of leaders who are there as we see in
The organization team leaders are there in it as we see in politics they are different from it. There are different kinds of leaders who are being there. And they can easily lead the group as well.
As charismatic leadership was included as the, charm By leadership they have combined interpersonal connections as well in the leadership.
Therefore, As a result, By charismatic leadership. They have the ability to inspire the people she works with.
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#SPJ6
Over the past year, Ionia's money supply decreased by $1 billion, $3 billion in bonds were sold to the public, an unused military base was sold for $5 billion, and the government spent $20 billion. Ionia had a budget surplus. deficit. Determine the amount of Ionia's budget deficit or surplus. $ billion Determine the amount of Ionia's tax revenue for the year.
1. Based on the information given Ionia had a budget deficit.
2. The amount of Ionia's budget deficit or surplus is $9 billion.
3. The amount of Ionia's tax revenue for the year is $11 billion.
1. Based on the information given Ionia had a budget deficit because the amount spent higher than the revenue.
2. Ionia's budget deficit or surplus
Budget deficit or surplus=$1 billion+$3 billion+$5 billion
Budget deficit or surplus=$9 billion
3. Tax revenue
Tax revenue= $20 billion-($1 billion+$3 billion+$5 billion)
Tax revenue-$20 billion-$9 billion
Tax revenue=$11 billion
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Answer:
A deficit of $7 Billion
Tax revenue of $13 Billion
Explanation:
Much like a cash‑strapped individual may run up a credit card bill or sell a TV set, governments must borrow or sell assets to cover a budget deficit. The government budget constraint summarizes these options.
−=ΔM+ΔB+ΔA
In the equation, is government spending, is tax revenue, ΔM is changes in the money supply, ΔB is bonds sold to the public, and ΔA is assets sold. If government bonds are sold to another government agency, the money supply increases by that amount. If is greater than , there is a budget deficit and the budget constraint will be a positive number.
As the numbers show, Ionia has a deficit of $7 billion.
−=ΔM+ΔB+ΔA= −$1 billion+$3 billion+$5 billion=$7 billion
Use this deficit and Ionia's government spending of $20 billion to determine tax revenue.
−=$7 billion
=−$7 billion=$20 billion−$7 billion=$13 billion
Has anybody taken this test before? What is the most financially dangerous way to pay for college?
Scholarships
Cash
Credit cards
Federal student loans
Answer:
well my dads a licensed student loan manager for UCB in CA and he said Federal Student Loans have FIXED INTEREST meaning no matter the change in other people loans your interest rate doesnt change. So it has to be credit cards.
Explanation:
Also credit cards dont have fixed interest rates so say today you have an 8% interest rate and next month it changes to 12% thats because of the fixed rate so in the near future you'd end up paying more in credit card tax then student loans. And student loans payment are negotiable , payments can be somewhat reasonable as for credit cards co.'s they take out a payment either way without you having a say in monthly change until you pay the loan off.
In my personal opinion I think its credit cards.
Fariq purchases and places in service in 2020 personal property costing $2,611,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation. What is the maximum Sec. 179 deduction that Fariq can deduct, ignoring any taxable income limitation
The maximum deduction that Fariq can deduct is $1,019,000
Solution
In the year 2020, the Sec 179 deduction expense is given as 1040000 dollars. This the deduction expense given that the qualifying personal property has a worth that is greater than 2590000 dollars.
Then the phase out would be the difference between the amount of investment and property cost
Phase out = 2611000 - 2590000
= 21000 dollars
Maximum Sec. 179 deduction = $1,040,000 - 21000
= $1,019,000
The maximum deduction that Fariq can deduct is therefore $1,019,000
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examine the importance of relative
Prices
the
economy
Relative-price movements convey necessary info concerning the deficiency of specific merchandise and services. A rising relative worth indicates that demand is outstripping provide (or that offer is falling behind demand), whereas a falling relative worth denotes simply the other.
Describe the role of supply, demand, and competition in a free enterprise system
Answer:
if a product is wanted for instance chocolate the price and demand will increase but the stock will drop
What’s a good ship name for Ronica and Jaevin