User Account

All Pages

Gatlin company issued 300000 8 15-year bonds on december 31

Assignment Help Accounting Basics
Reference no: EM13589142

Gatlin Company issued $300,000, 8%, 15-year bonds on December 31, 2011, for $288,000. Interest is payable annually on December 31. Gatlin uses the straight-line method to amortize bond premium or discount.Prepare the journal entries to record the following events.

(a)   The issuance of the bonds.
(b)   The payment of interest and the discount amortization on December 31, 2012.
(c)   The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.

Reference no: EM13589142

Questions Cloud

The operations vice president of first bank of eagle : the operations vice president of first bank of eagle kristin wu has been interested in investigating the efficiency of
Characterize the differences among untreated : 1. characterize the differences among untreated primary-treated and secondary-treated sewage and compare and explain
On june 30 of the current year rural gas amp electric co : on june 30 of the current year rural gas amp electric co. issued 50000000 face value 9 percent 10-year bonds payable
After seeing these figures roamings president remarked that : roaming bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles which are
Gatlin company issued 300000 8 15-year bonds on december 31 : gatlin company issued 300000 8 15-year bonds on december 31 2011 for 288000. interest is payable annually on december
Prepare a contribution margin income statement for the : shenyang company which produces and sells a small digital clock bases its pricing strategy on a 25 percent markup on
Goods are never delivered under forward contracts but are : goods are never delivered under forward contracts but are almost always delivered under futures contracts.lepage co.
Biemker corporation has 500 million of total assets its : biemker corporation has 500 million of total assets its basic earning power is 15 and it currently has no debt in its
Injections of tc cells completely removed all hepatitis b : respond thoughtfully and in your own words to the following discussion questions.1. injections of tc cells completely

Reviews

Write a Review

Accounting Basics Questions & Answers

  Exercise 3-42 adjusting entries allentown services inc is

exercise 3-42 adjusting entries allentown services inc. is preparing adjusting entries for the year ending december 31

  On june 15 2013 sanderson construction entered into a

on june 15 2013 sanderson construction entered into a long-term construction contract to build a baseball stadium in

  What are the amount and character of y loss

Worthless Securities, Y purchased 30 shares of BCD corporation common stock on March 2, 2010 for $2475. On February 26,2011, Y was notified by her broker that the stock was worthless.

  Weighted-average to fifo inventory pricing

Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing.

  Challenges related to comparing financial statement

Discuss the challenges related to comparing financial statement prepared in different accounting methods. For example, US GAAP and IFRS.

  Schedule of interest expense and discount amortization

Set up a schedule of interest expense and discount amortization under the straight-line method.

  Show support for the bond payable discount by preparing

On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.

  Last month kallina company had a 9202 profit on sales of

last month kallina company had a 9202 profit on sales of 285000. fixed costs are 113348 a month. what sales revenue is

  Calculations of cost per equivalent unit

Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.

  Inventory loss from market decline

An inventory loss from market decline of $900,000 occurred in April 2011. CD Company recorded this loss in April 2011 after its March 31, 2011, quarterly report was issued. None of this loss was recovered by the end of the year. How should this lo..

  Problem buster container company is suffering declining

problem buster container company is suffering declining sales of its principal product nonbiodegradeable plastic

  How does the pay-as-you-go procedure apply to wage earners

how does the pay-as-you-go procedure apply to wage earners? to persons who have income from other than wages?the tax

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