Clem company issued $800,000, 10-year, 5 percent bonds on january 1, 2018. the bonds sold for $741,000. interest is payable annually on december 31. using effective-interest amortization, prepare journal entries to record (a) the bond issuance on january 1, 2018, and (b) the payment of interest on december 31, 2018. the market interest rate on the bonds is 6 percent. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.