User Account

All Pages

Determine and journalize entry to record interest payment

Assignment Help Accounting Basics
Reference no: EM132466207

On the first day of the fiscal year, a company issues an $670,000, 6%, five-year bond that pays semiannual interest of $20,100 ($670,000 x 6% x 1/2), receiving cash of $629,800.

Question 1: Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method.

Reference no: EM132466207

Questions Cloud

How the organizational culture of Royce Consulting : Discuss how the organizational culture of Royce Consulting can impede or support the decision for the required changes?
What sales growth rate could the firm achieve : What growth rate could the ?rm achieve if it obtains the loan, does not issue any new equity, and maintains existing debt to equity ratio?
Discuss process of further defining project scope : Discuss process of further defining project scope, going from information in a project charter to preliminary scope statement, project scope statement, WBS etc.
Provide sufficient money for her son college education : Ana is planning for her son's college education. He will go to college 8 years from today and will require $20,000, $23,000, $26,000, and $29,000
Determine and journalize entry to record interest payment : Determine and Journalize entry to record the first interest payment and the amortization of the related bond discount using the straight-line method.
Determine which project you prefer to invest in : Use the payback period, net present value, & profitability index to determine which project you prefer to invest in. which method you prefer and why?
What must one-year interest rate be in the euro zone : Suppose that the one-year interest rate is 5.0 percent in the United States, the spot exchange rate is $1.20/€, and the one-year forward exchange rate
What must the interest rate in japan : What must the interest rate in Japan (on an investment of comparable risk) be before you are willing to consider investing there for six months?
What amount of personnel department cost will be allocated : Using the step-down method, what amount of Personnel Department cost will be allocated to Department B if the Maintenance Department is allocated first?

Reviews

Write a Review

Accounting Basics Questions & Answers

  The hassan corporation has an electric mixer division and

the hassan corporation has an electric mixer division and an electric lamp division. of a 20000000 bond issuance the

  Which are sunk are 20 per unit the market price of x is 70

which are sunk are 20 per unit. the market price of x is 70 per unit. beta division of carlson company uses product x

  At the beginning of the recent period there were 900 units

at the beginning of the recent period there were 900 units ofproduct in a department one-third completed. these units

  Categorize each of the following as one to one, one to many

Categorize each of the following as one to one, one to many, or many to many relationships Subsidiary ledgers and general ledgers Transactions and special journals General ledgers to trial balances.

  Compute the direct labor rate variance

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable

  Determine the present value of 300 to be paid monthly for

a. determine the present value of 15000 to be paid annually for 10 years discounted at an annual rate of 6 percent.

  A companys beginning-of-the-year assets are 60000 and

a companys beginning-of-the-year assets are 60000 and liabilities are 40000. during the year the company reported

  How many phones must be sold to achieve the breakeven point

U.S. Telephone Cellular sells phone for $100. The unit variable cost per phone is $50 plus selling. How many phones must be sold to achieve the breakeven point?

  What proposals would you make for alternatives to

1. what proposals would you make for alternatives to punishments? would these alternatives work in your community?

  How should governments report the capital projects

Why do some accountants believe that it should offset the year-end inventory balance with a fund balance-non-spendable when no comparable fund balance.

  Printing costs and legal fees-issuance of bonds

The printing costs and legal fees associated with the issuance of bonds should:

  In a recent newspaper release the president of keene

in a recent newspaper release the president of keene company asserted that something has to be done about depreciation.

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