Bond transaction journal entries

Reference no: EM1356429

On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:

a) Issuance of the bonds.

b) First semiannual interest payment.

c) Amortization of bond discount for the year, using the straight-line method of amortization

Reference no: EM1356429

Questions Cloud

What is its speed relative to the earth : A coffee filter of mass 1.4 grams dropped from a height of 3 m reaches ground with a speed of 0.7 m/s. How much kinetic energy Kair did the air molecules gain from the falling coffee filter.

Accounting cycle of organization : Explain the overall accounting cycle of an organization. Include a description of the people, processes, and systems that are integral to the cycle.

Letter of recommendation : If someone were to write a letter of recommendation for you to share in a job interview, what content do you think it would display? (Provide a detailed, sample draft).

Case management and disease management : Show the difference between conventional case management and disease management (DM) and why it is more difficult to measure return on investment with DM.

Bond transaction journal entries : On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:

Calculate the magnitude of the normal force : How much energy is necessary to place three charges, each of 3.0 micro Coulomb's, at the corners of an equilateral triangle of side 2 cm.

Importance of communication in non-profit : Explain what are the different communication needs of public, for profit, and non-profit organizations?

Explain process of extracting contours from edge image : Assume that the edge points in an image are extracted using a robust edge detection. Explain the process of extracting the contours from this edge image.

Compute annual holding cost plus the annual ordering cost : Compute the annual holding cost plus the annual ordering cost to get the total annual cost when using an order quantity of 200 boxes.

User Account

All Pages