General Business Questions and Answers

Where can i buy a wigget?

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Answers: A widget is a mythological unit used in economics. There is no such thing.

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What type of widget are you looking for?

Accounting dividends Help please?

Please help me numeral this out, thank you a bunch
Cash dividends of $80,000 were declared during the year. Cash dividends payable be $10,000 and $15,000 at the beginning and closing stages of the year, respectively. The amount of cash for the pocket money of dividends during the year is

A. $85,000
B. $80,000
C. $95,000
D. $75,000

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Answers: Beginning dividends payable $10,000
add Dividend declared $80,000
smaller amount Dividend paid (?)
= Ending dividends payable $15,000

From here you can work out that dividend rewarded was $75,000

Accounting comfort needed?

Accounting Help please, I keep coming up near no of the correct answers that I have programmed below to choose from

The Mansur Company issued $100,000 of 12% bonds on May 1, 2007 at face importance. The bonds pay interest semiannually on January 1 and July 1. The bonds are dated January 1, 2007, and seasoned on January 1, 2011. The total interest expense related to these bonds for the year ended December 31, 2007 is
A. $2,000
B. $4,000
C. $8,000
D. $12,000

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Answers: When bonds are issued between interest date, the bondholder pays the coupon interest for the period from the most recent interest date to the issuance date.
Interest payable every Jan 1 and July 1 = 0.5 x 100,000 x 12% = 6,000. If the bond be sold on May 1, 4 mths have passed, so the bondholder pays 4 mths' interest over the face expediency and he collects 6 mths' interest on July 1. So he pays $100,000 + $4,000.
Dr Cash proceeds $104,000
Cr Interest payable $4,000
Cr Bond payable $100,000

In the yr ended Dec 31, 2007 in that is only one allowance date, July 1, 2007 but I would also accrue the interest up to Dec 31.
On July 1, 2007:
Dr Bond interest 2000
Dr Interest payable 4000
Cr Cash 6000

On Dec 31, 2007
Dr Bond interest 6000
Cr Interest payable 6000

Taking the whole year together, the total bond interest is $8,000.