If ABC Company issues 100 of its $1,000 bonds at a price of 110, the journal entry to record the transaction includes a:
A. credit to Premium on Bonds Payable of $10,000.
B. debit to Cash of $90,000.
C. debit to Discount on Bonds Payable of $10,000.
D. debit to Cash of $100,000.
Answer: A
You might also like to view...
Emilio, an HR manager, had a meeting with the director of operations to determine if the new training program appears to be effective in improving productivity on the shop floor. Tracy is performing which step of the training process?
A. Assessment B. Objectives C. Selection D. Implementation E. Evaluation
Which statement is not true?
a. The journal voucher is the only source of input into the general ledger. b. A journal voucher can be used to represent summaries of similar transactions or a single unique transaction. c. Journal vouchers are not used to make adjusting entries and closing entries in the general ledger. d. Journal vouchers offer a degree of control against unauthorized general ledger entries.
During the month of March, Harley's Computer Services made purchases on account totaling $46,700. Also during the month of March, Harley was paid $12,800 by a customer for services to be provided in the future and paid $38,500 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,900, what is the balance in accounts payable at the end of March?
A. $87,100. B. $99,900. C. $6500. D. $8200. E. $74,300.
A contribution margin is defined as ________
A) the difference between variable costs and fixed costs B) the difference between demand with promotions and without promotions C) the perceived value added by marketing mix elements D) the gap between price and fixed cost E) the gap between price and variable cost