Captain johnny issued 4 10 year bonds payable at 85 on

Assignment Help Accounting Basics

Reference no: EM13604406

Captain Johnny issued 4%, 10 year bonds payable at 85 on December 31, 2010. At December 31, 2012, Captain Johnny reported the bonds payable as follow: Bond payable $300,000, less: discount (36,000)= $264,000. Captain Johnny uses the straight line amortization method and pays semiannual interest each June 30 and December 31.

REQUIREMENTS:

1.answer the following questions;

(a) What is the maturity value of the bonds?

(b) What is the carrying amount of the bonds at December 31, 2012.

(d) How much interest expense should the company record each year?

2. Record the June 30, 2013 semiannual interest payment and amortization of discount.

3) What will be the carrying amount of the bonds at December 31, 2013.

Reference no: EM13604406

Questions Cloud

Leah friend is trying to decide which of two different : leah friend is trying to decide which of two different kinds of candy to sell in her retail candy store. one type is a

You are driving through town at 135 ms when suddenly a ball : you are driving through town at 13.5 ms when suddenly a ball rolls out in front of you. you apply the brakes and begin

La compantildeiacutea productora del interior fabrica dos : la compantildeiacutea productora del interior fabrica dos artiacuteculos s y p. tiene dos departamentos de

Knowing that p 75 n and q125 n determine graphically the : tow forces p and q are applied as shown at a point a of a hook support. knowing that p 75 n and q125 n determine

Captain johnny issued 4 10 year bonds payable at 85 on : captain johnny issued 4 10 year bonds payable at 85 on december 31 2010. at december 31 2012 captain johnny reported

Two charges q1 4 microc q2 -23 microc are l 19 cm apart : two charges q1 4 microc q2 -23 microc are l 19 cm apart. a third charge is to be placed on the line between the two

What is the probability that you get in somewhere at least : you have applied to three medical schools university of california at san fransico ucsf duluth school of mind dsm and

The information below relates to the cash account in the : the information below relates to the cash account in the ledger of robertson company.balance september 1-17150 cash

Suppose the national basketball association nba reports : comparing averages. suppose the national basketball association nba reports that the average height of basketball

User Account

All Pages