User Account

All Pages

Find what was the amount of accrued interest received

Assignment Help Financial Accounting
Reference no: EM132569232

On March 31, 2018 Levis Company issued $20,000,000 face amount of 7%, 5-year bonds payable, with interest payable each June 30 and December 31. The company received cash of $20,200,000, including the accrued interest from December 31, 2017. Levis uses the straight-line method of amortizing any discount or premium over the remaining life of the bonds - 57 months.

Question i. What was the amount of accrued interest received by Louis on March 31, 2018 when the bonds were issued?

Question ii. What was the amount of discount or premium on the bonds at issuance date?

Question iii. What amount of cash is paid to bondholders for interest during year 2018?

Question iv. What is Levis ' total interest expense for year 2018 related to this bond issue?

Question v. What is the carrying value of this bond issue as of December 31, 2018?

Reference no: EM132569232

Questions Cloud

Particular types of problems : Imagine that you are being held captive by an evil scientist who plans to destroy one area of your brain and then set you free
How should the transactions involving marketable securities : An analysis of Korman Corporation's, How should the transactions involving marketable securities be classified in Korman's statement of cash flows for 2018?
Is the following a good interview question : Is the following a good interview question? Why or why not?
What is the amount of bond interest payable appearing : What is the amount of bond interest payable appearing in Dilawar Imports' balance sheet at December 31, Year 2, with respect to these bonds?
Find what was the amount of accrued interest received : On March 31, 2018, What was the amount of accrued interest received by Louis on March 31, 2018 when the bonds were issued?
Focusing on the writing improvement topic : Re-write the following sentences, focusing on the Writing Improvement topic:
Find new world net cash flow from operating activities : Compute the amount of New World's cash payments for operating expenses. New World's net cash flow from operating activities for the current year is
What are the benefits of observational assessments : What are the benefits of observational assessments? How can you incorporate observational assessments into your daily lessons?
What is literature review : What is literature review? How an effective literature review can be written. Explain by using your own words.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is value of the stock for you

The common stock of NCP paid $1.32 in dividends last year. Dividends are expected to grow at an 8 percent annual rate for an indefinite number of years.

  Limon company uses the chart of accounts shown below use

limon company uses the chart of accounts shown below. use the numbers preceding each title to create journal entries

  What is the journal entry for december

What is the journal entry for 31 december 2017? On 31 December 2017, the company revalued Land . The fair value of Land on that date was $80,000. the fair value

  Different investment plans

Your financial planner offers you two different investment plans. Plan X is a $10,000 annual perpetuity. Plan Y is a 17-year, $14,000 annual annuity. Both plans will make their first payment one year from today. At what discount rate would you be ind..

  Tingey industries financial statements

Create summary entries on the books of the consignor for consignment sales transactions and create summary entries on the books of the dealer consignee; consider there is only one dealer involved.

  Prepare the stockholders equity section of the balance sheet

Journalize the transactions -Enter the beginning balances and post the entries to the stockholders' equity T-accounts.- Prepare the stockholders' equity section of the balance sheet at December 31.

  Prepare all journal entry relating to vancouver corporation

On January 1, 2017, Prepare all journal entries for 2017 and 2018 relating to Vancouver Corporation's investment in Montreal Corporation.

  Evaluate a recent case in the news about business fraud

Evaluate a recent case in the news about business fraud

  Determining the current value of the lease

If you cost of money is 6.5 percent, what's the current value of the lease?

  Ue the information in the butterflies case material to1

use the information in the butterflies case material to1. prepare a cash flow forecast. assume that the business will

  Compute the npv and the irr for each investment

Compute the NPV and the IRR for each investment. Explain why the project with the larger NPV is the correct choice for the company.

  How much of nygmas distribution will be taxed as dividend

Cobblepot and Nygma founded the Iceberg Lounge, Inc. as equal shareholders (Nygma is the lounge act). Two years ago, Iceberg sold air conditioning equipment to Mr. Freeze for $1,200,000 (basis of $400,000). Payment for one-half of the sale of the ass..

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