27-30, enacted April 9, 1866, was the first United States federal law to define US citizenship and affirm that all citizens are equally protected by the law. It was mainly intended to protect the civil rights of Africans born in or brought to America, in the wake of the American Civil War.This legislation was enacted by Congress in 1865 but vetoed by President Andrew Johnson. In April 1866 Congress again passed the bill.he activities of insurgent groups such as the Ku Klux Klan (KKK) undermined the act; and it failed to immediately secure the civil rights of African Americans. Since 1866 it has been illegal in the U.S. to discriminate in jobs and housing on the basis of race.
For example, a company might pay $500 a month in interest on a business loan while earning $45 in interest in the same time period in a business savings account.The total amount of net interest expense for that month would be $455. The net interest expense was a key metric to analyze as the company lends money as well as leveraging itself.
Company SD would record the amortization and interest expense using the following journal entry: In year 2 the carrying amount would be $93,662 ($92,420 plus the amortized bond discount of $1,242). This would lead to interest expense of $9,366. Since interest paid or payable would be the same i.e. $8,000 this would lead to a higher figure for bond discount amortized during the period.