Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1, 2011, BBX issued $400,000 of its 8% bonds for $368,000. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. BBX records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2011, the fair value of the bonds was $370,000 as determined by their market value on the NYSE.
Required:
1. Prepare the journal entry to record interest on June 30, 2011 (the first interest payment).
2. Prepare the journal entry to record interest on December 31, 2011 (the second interest payment).
3. Prepare the journal entry to adjust the bonds to their fair value for presentation in the December 31, 2011, balance sheet.
What could be your response to the CEO
Evaluate Tim's 2012 cost recovery deduction (Consider Tim did not make a section 179 election and elected out of bonus depreciation). Show your work and describe your calculations.
Computation of cost of goods sold using the given data - Using the following data, compute cost of goods sold
Assume that Snap Fitness estimates that each location incurs $4,000 per month in fixed operating expenses plus $2,000 to lease equipment.
Determine the predetermined overhead rate under the current method, and determine the total unit product cost of each product for the current year.
Net income for the current year was $300,000. If the company paid a dividend of $2 per share on its common stock, illustrate what is the balance in Retained Earnings at the end of the year?
Effect of ratios on given transactions and effect on the following measures: asset turnover, profit margin, ROI, and RI for the present fiscal year
Create a memo to a group of students interested in pursuing careers in management accounting. Include in the memo, the role of management accounting and how management accounting may differ based on different types of companies or industries.
Determine the potential legal liability the accountant can face. Justify your position.
Elucidate how the use of the losses in Part a would change if instead Raider were a partnership, and Monte and Allie were partners who shared profits, losses, and liabilities equally.
Another client gave her a check for $750 on December 31, 2011, but after the bank had closed. Both the $500 and $750 checks cleared the next year. Explain how much does Sarah have to include in her gross income for 2011?
What would be the financial impact, What is the weighted average contribution margin(WACM) percentage for Bridgestone's next annual budget
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd