User Account

All Pages

Give the adjusting entry required on December

Assignment Help Cost Accounting
Reference no: EM133028890

Question - On April 1, 2020, Larel Corporation issued $40,000, 9%, ten-year bonds payable at 108 that were dated April 1, 2020. Interest is payable each March 31 and September 30.

Required -

(a) Give the entry to record the issuance of the bonds on April 1, 2020.

(b) Give the entry to record the first interest payment on September 30, 2020. Use straight-line amortization.

(c) Give the adjusting entry required on December 31, 2020, the end of the annual accounting period. Use straight-line amortization.

Reference no: EM133028890

Questions Cloud

Major types of classroom training : Chapter 6 described five major types of "classroom" training. Identify and describe each of the five types of training, as well as major strengths and weaknesse
Prepare general journal entries to record transactions : Question - Prepare general journal entries to record the following merchandising transactions for United Sales. United uses a perpetual inventory system
Prepare the financing activities section of the cash flow : Common shares, unlimited number authorized, 600,000 issued and outstanding 6,000,000. Prepare the financing activities section of the cash flow
Research and discuss the cyber security tools : Research and discuss the cyber security tools and practices from the topics, (Network traffic analysis, Vulnerability assessment, Risk mitigation
Give the adjusting entry required on December : Give the adjusting entry required on December 31, 2020, the end of the annual accounting period. Use straight-line amortization
Responsibilities of the person holding : While HRM has a specific focus on people (human resources), an analysis of this critical process. This task cannot be accomplished without also looking at job a
Describe the communication practices in the country : Describe the communication practices in the country of Lebanon and demonstrate what you have learned about organizational communication styles for the country.
What is the organizational structure : Select a current or previous organization you are familiar with (e.g., professional, nonprofit, religious) to share, and discuss the following:
What constant payment at the end of each month : If you expect to earn 8% APR compounded monthly in your retirement account, what constant payment at the end of each month must you deposit

Reviews

Write a Review

Cost Accounting Questions & Answers

  Treatment of normal-abnormal spoilage under job costing

Question 1: Discuss the Treatment of Normal and Abnormal Spoilage under Job Costing.

  Calculate the price variance for direct materials

Calculate the price variance for direct materials for a certain weekly budget given that there is opening stock count? Do sum up the opening stock count

  How much paid in salaries to employees with cash

Show the effects on the financial statements using a horizontal statement model as outlined below.  1 Sold $30,000 in merchandise for cash 2 Paid $5,000 for rent with cash 3 Paid $10,000 in salaries to employees with cash 4 Sold $25,000 in merchandi..

  Budgeted activity base is used as base in cost allocation

If a budgeted activity base is used as the base in cost allocation, each department's cost allocation will be predictable, and not influenced by the: A. Actual total cost. B. Change in activity.

  What is the total cost for the two processes you selected

Assuming that costs for other colleges are the same as for the College of Business, what is the total cost for the two processes you selected for your university, in total?

  Stanley printing company began operation in march with

stanley printing company began operation in march with three custom orders. the following costs were incurred during

  Contrast direct costs and indirect costs

Contrast Operating costs and non-operating costs. Inventoriable costs and period costs. Direct costs and indirect costs. Period costs and product costs.

  Analyze all cost and expense factors to determine a general

Analyze all cost and expense factors to determine a general formula (based on units of production) for total cost. Round variable cost per unit

  What is the minimum number of units of this product

The contribution margin percentage is 20%. What is the minimum number of units of this product to be sold to breakeven

  When the borrower pays herzog the correct amount owed

On July 1, 2012, Herzog Mining lends cash and accepts a $9,000 note receivable that offers 10% interest and is due in nine months. How would Herzog record the transaction on April 1, 2013, when the borrower pays Herzog the correct amount owed

  Calculate the EUP for conversion costs

The quality control inspection takes place when the units are 75% completed and materials are added at start of process. Calculate the EUP for conversion costs

  Calculating payback

Calculating Payback. An investment project provides cash inflows of $585 per year for 8 years. What is the project payback period if the initial cost is $1,700? What if the initial cost is $3,300? What if it is $4,900?

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