Jan 1(#1) - Issued a $2,000,000 Bond at face rate of 5% when market rate = 6%. Bond is a 5-year term paid semi-annually on 6/30 and 12/31. Need to calculate the Bond Value to perform this entry. (Hint: the opening trial balance includes a Discount on Bonds Payable account.) June 30 (#10) - Payment of 1st semi-annual bond payment in cash, $50,000. (Hint: will need to perform a Bond amortization schedule to perform this journal entry.)
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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