User Account

All Pages

How much of the premium will be amortized

Assignment Help Accounting Basics
Reference no: EM133104903

Question - On January 1, 2016, Antwon Corp. issued a ten year, $100,000, 8 percent bond with interest payments on June 30 and December 31. The bond issue was sold for $108,093. Assuming an effective interest rate of 5 percent, approximately how much of the premium will be amortized on December 31, 2016 using the effective interest method?

A) $1330.11

B) $4000.00

C) $1297.67

D) $2669.89

Reference no: EM133104903

Questions Cloud

What the total financial income to be recognized : ABC leases an asset from XYZ, a lease financier, At XYZ's perspective, the total financial income to be recognized for the entire term of the lease is
Journalize the selected transactions for october : Journalize the following selected transactions for October 20Y2 in a two-column journal. Journal entry explanations may be omitted
Differentiate current liabilities to non-current liabilities : Define liabilities. What are the essential characteristics of an accounting liability? Differentiate current liabilities to non-current liabilities
Analyze each transaction and show the effect of each : Analyze each transaction and show the effect of each on the accounting equation for a corporation. Purchased inventory on account at a cost of $128,000
How much of the premium will be amortized : Assuming an effective interest rate of 5 percent, approximately how much of the premium will be amortized on December 31, 2016
Determine Millie taxable income and taxes : Millie Co. completed its first year of operations on December 31, 2017, with pre-tax financial income of $400,000. Determine Millie taxable income and taxes
What is the inventory turnover : The Top Corporation has ending inventory of $480,940, and cost of goods sold for the year just ended was $4,352,507. What is the inventory turnover
What are earnings per share : Question - Bolton Corporation had additions to retained earnings for the year just ended of $174,000. What are earnings per share
Can mark deduct the loss that she realized : Mark's basis in the land is $104,000. Can Mark deduct the $4,000 loss that she realized on this sale? (Ignore the $3,000 capital loss limitation) Why or why not

Reviews

Write a Review

Accounting Basics Questions & Answers

  Occupancy expense for the year

The renovations cost $50,000 and have a useful life of 8 years. Lisa's Boutique will record occupancy expense for the year ended December 31, of :

  What would be the gross profit

Overhead was applied based on the following predetermined overhead rates: What would be the gross profit if the company increased the selling price

  How to use statistical attribute sampling or nonstatistical

Statistical sampling should always be used in tests of general controls, such as inspecting logs that document program changes, were the auditor wants to review the entire population but uses sampling to choose specific items to investigate a samp..

  What is the fixed contract price for CCC project

Accounts receivable, 12/31/2018 (from construction progress billings) $37.5. What is the fixed contract price for CCC's project

  Calculate the selling price for each bond issued

1). 830 bonds, 1000 face value, 8% stated rate, 10 year semi annual interest payment. Assuming the market rate of interest is 10% calculate the selling price for each bond issued. Answer to nearest dollar.

  Prepare income statement according to the variable costing

Prepare an income statement according to the variable costing concept for August. Enter all amounts as positive numbers

  Compute the breakeven point in dollars

Suppose Cape Cod Railway's total revenues are $4, 900,000, its variable costs are $2, 900,000, and its fixed costs are $1, 300,000.

  What amount should orca report as the cumulative effect

In its 2017 financial statements, what amount should Orca report as the cumulative effect of this accounting change

  What are cash equivalents

How are the company's assets classified?

  Accountants who have accounting degrees

Accountants who have accounting degrees

  Calculate the cash collections

Calculate the cash collections that would be included in the cash budgets for August and September.

  Calculate the contribution margin per unit

Break-Even Point and Target Profit Measured in Units (Single Product). Calculate the contribution margin per unit

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