Gonzalez Company acquired $153,600 of Walker Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $43,200 of the bonds for 98.Journalize entries to record the following in Year 1 (refer to the Chart of Accounts for exact wording of account titles):a. The initial acquisition of the bonds on May 1.b. The semiannual interest received on November 1.c. The sale of the bonds on November 1.d. The accrual of $1,300 interest on December 31.
Answers
Answer:
The Journal entries are as follows:
(i) On may 1,
Investment - Walker Co. A/c Dr. $153,600
To cash $153,600
(To record the initial acquisition of the bonds)
(ii) On November 1,
Cash A/c( $153,600 × 8% × 6/12) Dr. $6,144
To Interest revenue $6,144
(To record the semiannual interest received)
(iii) On November 1,
Cash A/c ($43,200 × 98%) Dr. $30,240
Loss on sale of investment A/c Dr. $12,960
To Investment - Walker Co. $43,200
(To record the sale of the bonds)
(iv) On December 31,
Interest receivable A/c Dr. $1,300
To Interest revenue $1,300
(To record the accrual of $1,300 interest)
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Producers believe the economy is headed for a recession, so they reduce their purchases of machinery and equipment. A. The Short Run Aggregate Supply curve shifts to the right. B. The Aggregate Demand curve shifts to the left. C. The Aggregate Demand curve shifts to the right. D. The Short Run Aggregate Supply curve shifts to the left.
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ImpressMe Products embosses notebooks with school and corporate logos. Last year, the company’s direct labor payroll totaled $352,100 for 50,300 direct labor hours. The standard wage rate is $6.75 per direct labor hour. Calculate ImpressMe’s direct labor rate variance. (Round answer to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter 0 for the amounts.)
Answers
Answer:
Explanation:
1. The journal entry for declaration of dividend is shown below:
Retained Earnings A/c Dr
= (8,600 million shares × $0.18 per share) = $1,548 million
To Dividend payable in cash $1,548 million
(Being dividend is declared)
2. No journal entry should be passed on the record date
3. The journal entry for payment of the cash dividend is shown below:
Cash dividend payable A/c Dr $1,548 million
To Cash $1,5480 million
(Being payment is made for cash dividend)
Final answer:
The journal entries made by BusinessSoftware Corp. to record the declaration and payment of the cash dividend for its 8,600 million shares involve debiting retained earnings and crediting dividends payable on the declaration date, and debiting dividends payable and crediting cash on the payment date.
Explanation:
The journal entries made by BusinessSoftware Corp. to record the declaration and payment of the cash dividend for its 8,600 million shares would be as follows:
- Declaration Date:
- Retained Earnings DR $1,548,000 (8,600 million shares x $0.18 per share)
- Dividends Payable CR $1,548,000
- Payment Date:
- Dividends Payable DR $1,548,000
- Cash CR $1,548,000
Learn more about Journal entries here:
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Answers
Answer:
supplied , left
higher, lower
Explanation:
When people start consuming more and saving less, this would result into lower quantum of funds parked with banks and financial institutions. Due to shortage of funds, the supply of loanable funds in the market would get reduced i.e the supplied line would shift to the left.
This would raise the equilibrium level for loanable funds which would lead to a higher rate of interest i.e funds will be loaned only at a higher rate of interest. Due to this, the quantity of funds saved and invested would be lower.
a. Sam faces economies of scale; Liza faces diseconomies of scale; Tina faces constant returns to scale.
b. Sam faces economies of scale; Tina faces diseconomies of scale; Liza faces constant returns to scale.
c. Tina faces economies of scale; Sam faces diseconomies of scale; Liza faces constant returns to scale.
d. Liza faces economies of scale; Sam faces diseconomies of scale; Tina faces constant returns to scal
Answers
Answer: d. Liza faces economies of scale; Sam faces diseconomies of scale; Tina faces constant returns to scale
Explanation:
Economies of scale occurs when the increase in production by companies brings about a reduction in cost. Diseconomies of scale is when a rise in production leads to an increase in cost as well. For a constant return to scale, the cost remains the same.
Therefore, the answer will be option D "Liza faces economies of scale; Sam faces diseconomies of scale; Tina faces constant returns to scale".
Answers
Answer:
Accumulated depreciation on car at the end of year 2 will be 22,500
Explanation:
The unit-of use Method recognize depreciation base on the use of a cost driver. This cost driver could be miles, number of units produced, or others.
(60,000-10.000)/100,000 = .5 rate per mile
acumulated depreciation at year 2
25,000 + 20,000= 45,000 total miles driven
45,000 * 0.5 = 22,500
Answers
Answer:none of above
Explanation:
Answers
Answer: Greenwashing
Explanation:
Greenwashing is the process of giving out a false impression or misleading the public about how the product of a company are more environmentally friendly. Companies have used greenwashing in commercials and press releases emphasizing their pollution minimization efforts and clean energy but in reality, the firm may not have a genuine commitment to environmental friendliness. Companies that make such claims are embroiled in greenwashing.
For example, a company might claim that their goods are made from recycled materials and this may be false. This is greenwashing.