User Account

All Pages

Determine the interest expense accrued as of june

Assignment Help Accounting Basics
Reference no: EM133091175

Question - Rubin's corporation issued $10 million, of 5% coupon bonds on January 1st 2020 due to 31 December 2025. The market rate at issuance was 6% annual, and the bond pays interest on June 30th and December 31st of each year.

At the end of 2020, the carrying value of the bonds is $9,683,028; at the end of June 2021 the end carrying value will be 9,723,518. The company uses the effective market rate method to amortize the discount/premium on bond. Determine the interest expense accrued as of June 30 2021?

Reference no: EM133091175

Questions Cloud

Find the present value and the compound discount : Find the present value and the compound discount of $2403.34 due from 5 years now if money is worth 1.8% compounded monthly
Calculate the discounted payback period : You are given the following cash flows for a project. Use a discount rate of 7.8% where applicable. Calculate the Discounted Payback Period
What is the amount of each of the additional payments : What is the amount of each of the additional payments he must make for his plan to work out? Assume Billy can earn 2% annual return in his investment account
What result is reported in consolidated financial statements : In 2020 parent decides to purchase all outstanding bonds from third parties for $6,400,000. What result is reported in the 2020 consolidated financial statement
Determine the interest expense accrued as of june : Rubin's corporation issued $10 million, of 5% coupon bonds on January 1st 2020 due to 31 December 2025. Determine the interest expense accrued as of June
What is the total income for food and beverage department : The food and beverage department had sales of $1,055,000, food cost (cost of sales) of 300,000, What is the total income for food and beverage department
Prepare a statement of cost of goods manufactured : The following data relates to the Houston Co.: Direct Materials Inventory, Beginning $650. Prepare a Statement of Cost of Goods Manufactured
Calculate the earnings per share : Net income for 2021 was $517,750 and preferred shareholders received dividends of $80,000. Calculate the Earnings Per Share
Calculate the maturity date for the note receivable : Lou's Hardware Store collects the amount owing from Modern Home Builders. Calculate the maturity date for the note receivable

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which of the following are government transfer payments

Which of the following government transfer payments is included in the recipient's gross income? Which of the following expenditures is not a medical expense for federal tax purposes?

  Understanding and coping with change

Understanding and Coping with Change Change is everywhere, but yet very few people seem to embrace the concept. We are for the most part creatures of habit and follow daily routines. When changes occur our activities and thought patterns are disru..

  How has governmental budgeting influenced the measurement

How has governmental budgeting influenced the measurement focus and basis of accounting used in the governmental funds category?

  What was total net cash flow per activity

What was total net cash flow per activity: Operations/Production, Investing, Financing and Family Living? What was total net cash flow

  What is the effect on the accounting equation

When the stockholders invest cash in the business, what is the effect on the accounting equation? Which of the following statements is false regarding the closing process?

  Duradisc corporation produces two types of compact discs

duradisc corporation produces two types of compact discs standard and high-grade. the standard cds are used primarily

  What is the anticipated benefit cost ratio

What is the anticipated benefit/cost ratio if the interest rate is 6 percent, the service life is 10 years, and the salvage value is $5,000

  Discuss how was the distributable net income

How was the Distributable Net Income (DNI) approach developed, including which other codes sections models were integrated into the DNI concept

  How would they account for this transaction

If ABC, Inc. decides to retire the bond early by purchasing it back via the bond market on January 1, 2014, how would they account for this transaction

  How much was collected on account during the period

Bravo' sold goods on account for $1,400. Ending Accounts Receivable had a $630 balance. How much was collected on account during the period

  Original purchase-dividend and sale

Prepare the journal entries for the original purchase, dividend and sale.

  Find what is ending basis for the partnership

What is his ending basis for the partnership? On May 15, Issac contributed $5,500 for a 10% interest in the general partnership, Mac's Tools.

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