Reference no: EM133076980
Question - On March 1, 2020, Quinto Mining Inc. issued a $640,000, 10%, three-year bond. Interest is payable semiannually beginning September 1, 2020.
Required -
Part 1 -
a. Calculate the bond issue price assuming a market interest rate of 9% on the date of issue.
b. Using the effective interest method, prepare an amortization schedule.
c. Record the entries for the issuance of the bond on March 1, the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quinto's year-end, and the payment of interest on September 1, 2020.
Part 2 -
a. Calculate the bond issue price assuming a market interest rate of 11.0% on the date of issue.
b. Using the effective interest method, prepare an amortization schedule.
c. Record the entries for the issuance of the bond on March 1; the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quinto's year-end; and the payment of interest on September 1, 2020.
d. Record the entries for the retirement of 30% of the bonds at 102, on September 1, 2020, after the interest payment.
|
Long-term goals for achieving company strategic plan
: Create a strategic objective for the company. Create short- and long-term goals for achieving the company's strategic plan.
|
|
Determine the average net pay per month increase
: Your average net pay this year is $2,225 per month, It was $2,176 last year. Based on this information, determine the average net pay per month increase
|
|
Business model canvas
: Think about the information you will need to create your business model using the nine segments of the business model canvas (BMC).
|
|
What is the material price variance
: The standards for materials for each unit have been set as 5 pounds of KR- 27 at a standard cost of $35.00 per pound. What is the material price variance
|
|
Calculate the bond issue price
: On March 1, 2020, Quinto Mining Inc. issued a $640,000, 10%, three-year bond. Calculate the bond issue price
|
|
Journalize the entries for April
: On April 1, 8,000 shares of $5 par common stock were issued at $23, and on April 7, 6,000 shares of $50 par preferred stock issued at $105. Journalize entries
|
|
Analysis of the agency policies-procedures
: Analyze at least two of the agency's policies, procedures, and/or plans regarding pensions (title this section "Employee Pension Plans").
|
|
Prepare the journal entry that would record the issuance
: Prepare the journal entry that would record the issuance, assuming the market interest rate at the date of issuance was (1) 4%, (2) 6%, (3) 8%
|
|
BSBLDR523 Lead and manage effective workplace relationships
: BSBLDR523 Lead and manage effective workplace relationships Assignment Help and Solution, Crown Institute of Business and Technology -Assessment Writing Service
|