Both the reported value of longt-term and periodic interest

Assignment Help Accounting Basics

Reference no: EM13576245

Both the reported value of longt-term and periodic interest charges should be based on unamortized issue price and initial yield.the city of fairfield issued $100 million of 20-year,6% coupon bonds (3% per semiannual period) for $89.322 million. The price reflected a yield of 7%.

1. prepare entries to reflect how to report the following in the city's government-wide statements:
a. the issuance of the bond
b. the first semiannual payment of interest
c. the second semiannual payment of interest

2. prepare entries to account for the same transactions in an appropriate government fund.

Reference no: EM13576245

Questions Cloud

Two parts are assembled the distributions of x1 and x2 are : two parts are assembled. the distributions of x1 and x2 are normal with micro1 20 s1 0.3 and micro2 19.6 s2 0.4.

The overhead allocation rate in franz companys job order : the overhead allocation rate in franz companys job order cost accounting system applies overhead based on direct labor

A standardized test has a mean of 104 and a standard : a standardized test has a mean of 104 and a standard deviation of 16. we want to be 98 certain that we are withing 4

You are trying a new food recipe and the probability that a : you are trying a new food recipe and the probability that a friend of yours likes that food is 0.85. if you invite 18

Both the reported value of longt-term and periodic interest : both the reported value of longt-term and periodic interest charges should be based on unamortized issue price and

Indicate the reporting of the 2012 pension amounts in the : complete the following exercise. submit journal entries in an excel file and written segments in an ms word document.

For simplicity assume that the demand increase and margins : investing 2000000 in tqms channel support systems initiative will at a minimum increase demand for your products 1.7 in

Right foot shoes issued a two-year 46000 interest-bearing : right foot shoes issued a two-year 46000 interest-bearing note on january 1 2008 in exchange for new equipment.

Quantitative analysis on the current state push numbers in : it is currently busy season at the professional service firm. you are currently juggling multiple clients working 12

User Account

All Pages