User Account

All Pages

Bringham company issues bonds with a par value

Assignment Help Accounting Basics
Reference no: EM13901183

Bringham Company issues bonds with a par value of $ 800,000 on their stated issue date. The bonds mature in 10 years and pay 6% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. 

1. What is the amount of each semiannual interest payment for these bonds? 
2. How many semiannual interest payments will be made on these bonds over their life? 
3. Use the interest rates given to determine whether the bonds are issued at par, at a discount, or at a premium. 
4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds issuance. 

Reference no: EM13901183

Questions Cloud

Using the cma code of professional ethics for management : Using the CMA Code of Professional Ethics for management accountants, recommend the approach that Emily should take. Suppose Tim insists that his suggested accounting treatment be implemented.
Environmental management system : The development of an Environmental Management System is little more than a paper exercise that has little real influence on the environmental behavior of an organization but allows it to claim a commitment that perhaps does not exist'. Discuss th..
Use the following bond amortization table : Woodwick Company issues 10%, five year bonds, on December 31, 2012, with a par value of $200,000 and semiannual interest payments. Use the following bond amortization table and prepare journal entries to record
Calculate the mean and the variance : The following table presents the total sample size and the percentage distribution of a grouped variable, "Hours of Shopping this Year." Calculate the mean and the variance
Bringham company issues bonds with a par value : Bringham Company issues bonds with a par value of $ 800,000 on their stated issue date.
Prepare an absorption-costing income statement : Paulisse Company produces hand lotion for resale by discount chains. For last year. Prepare a statement of cost of goods manufactured. Prepare an absorption-costing income statement.
How much does the company receive when it issues : On January 1, 2013, Shay issues $ 700,000 of 10%, 15 year bonds at a price of 973/4. Six years later, on January 1, 2019,
How much accrued interest do the bond purchasers : On May 1, 2013, Brussels Enterprises issues bonds dated January 1, 2013, that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par plus four months accrued interest.
Discuss differences between services and tangible products : Discuss three differences between services and tangible products. Calculate the average cost of preparing a tax return for last year.

Reviews

Write a Review

Accounting Basics Questions & Answers

  The malamura company deposits all receipts in the bank and

the malamura company deposits all receipts in the bank and makes all payments by check. on november 30 its cash account

  Rotelco is one of the largest digital wireless service

rotelco is one of the largest digital wireless service providers in the united states. in a recent year it had

  Statement defines the transactional approach

Which of the following statements best defines the transactional approach?

  Zack is a farmer who buys his feed and fertilizer from a

zack is a farmer who buys his feed and fertilizer from a farmer cooperative. in 2012 zack purchased 300000 in feed and

  Describe the effect of inaccurate standard costs

What are some advantages and disadvantages of standard costs? How do managers determine what the standard cost should be? Describe the effect of inaccurate standard costs on financial reporting.

  Memorandum providing professional recommendations

You will complete a return for a sole proprietor based on provided scenario and prepare a memorandum providing professional recommendations in the informational areas indicated.

  In the united states public companies are required to

in the united states public companies are required to report financial results using gaap. however accounting

  An auditing course.

an auditing course.

  Chicago began business at the start of the current year the

chicago began business at the start of the current year. the company planned to produce 25000 units and actual

  Which of the following describes the purpose of

which of the following describes the purpose of depreciation?a.to reflect the change in replacement cost of the

  Calculating wacc for a real firm

The Weighted Average Cost of Capital (WACC) for a firm can be calculated or found through research. Select two firms in the same industry.

  Accounted as part of gordon stockholders equity

At the date of issuance, the market value of the bonds, without the stock warrants, was quoted at 96. The market value of each detachable warrant was quoted at $40. What amount, if any, of the proceeds from the issuance should be accounted for as ..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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