Amount of the semi-annual interest expense

Assignment Help Accounting Basics
Reference no: EM13130806

On January 1, a company issued 10%, 10 year bonds payable with a par value of $720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. What is the amount of the semi-annual interest expense?

Reference no: EM13130806

Questions Cloud

Compute the fraction of dissociation : Calculate the [H3O+], pH, and the fraction of dissociation (α) in an aqueous 0.140 M NH3 solution. (Hint: You will need the Ka, located in the back of your textbook.)
Was cost the main consideration in setting those prices : Mobile Battery features more than a dozen brands of batteries in many sizes. Two of the brands are PowerPlus and SuperPower. The following information about the two brands was obtained.
Series of markups and markdowns : The wholesale cost of a video game is $459,45. The original markup was 51% based on selling price. Find the final sale price after the following series of price changes:
Explain how much interest should she include in gross income : The son quit school after one semester and Klemm used the remaining money to buy her son a car. If Klemm's AGI is $25,000, explain how much interest should she include in gross income?
Amount of the semi-annual interest expense : The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. What is the amount of the semi-annual interest expense?
Fractions in real life : Describe a real-world problem you have encountered, in either your personal or professional life, in which you needed to use fractions or decimals to solve the problem.
Explain are outcomes in the sample space equally likely : Either the seed germinates, or it does not. What is the sample space in this problem? Do the probabilities assigned to the sample space add up to 1? Explain. Are the outcomes in the sample space equally likely?
What conditions must be met for a transfer of receivables : What conditions must be met for a transfer of receivables with recourse to be accounted for as a sale?
Budgeted purchases for the fourth quarter : If the December 31 inventory is targeted at $41,500, budgeted purchases for the fourth quarter should be:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Records of goods inventories

Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer. Which one of the following statements is correct?

  Which of the following statements is not accurate

Which of the following statements is not accurate?

  Journal entry to record the lease

Company has assets of $1,800,000, liabilities of $1,100,000 and stockholder's equity of $700,000. (a) prepare the journal entry to record the lease, and (b) compute the and comment on the debt to total assets ratio at the year-end.

  Making the bank reconciliation

Prepare the bank reconciliation for Janus Jutes, Inc. dated May 31, 2009. Janus made a deposit on May 31, but this deposit did not appear on the bank statement, $1,451.

  Journal entries and trial balance for cookie creations

In November 2006 after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided to not pursue the offer to supply cookies to Biscuits. Instead she will focus on offering cooking classes. The following events occur. Pre..

  Income statement-disclosed net of tax

Which of the following items on the income statement is not disclosed net of tax?

  Nonprofit fund accounting: restricted funds

Can a nonprofit (not-for-profit) organization release restrictions on a "strike fund" and use it in the general fund for current year activity? Why or why not?

  Prepare the stockholder equity portion of the balance sheet

On January 1, 2012 JumpinJehosaPhats Inc. has been authorized to issue 1,000,000 common shares with a Par Value of $1. In the process of incorporating, the sole proprietor owner's equity accounts must be closed and the equity must now reflect a co..

  Explain the difference between a business and a hobby

You realize that your accounting services are why Eric's Elmhurst Motorcycle has both stayed afloat and even prospered through the years.

  For-profit and not-for-profit organization

What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization?

  Recording long-term asset purchases

Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?

  Statement of cash-flows

The company also purchased treasury stock that had a cost of $7,000. The financing section of the statement of cash flows will report net cash inflows of:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd