How much was the total amount of cash paid

Assignment Help Accounting Basics
Reference no: EM132664633

Question - On December 31, 2019, the liability section of Texas Company's statement of financial position included bonds payable of 10 million and unamortized premium on bonds payable of 180,000. Furthermore verification revealed that these bonds were issued on December 31, 2017 and will become due on December 31, 2027. Interest at 12% is payable every June 30 and December 31. On April 1, 2020, Texas retired 4,000,000 of these bonds at 97 plus accrued interest. How much was the total amount of cash paid for the retirement of bonds on April 1, 2020?

a. 3,950,000

b. 4,000,000

c. 4,040,000

d. 4,180,000

Reference no: EM132664633

Questions Cloud

Review some nursing journals that deal with education : Review some nursing journals that deal primarily with education, research, or administration, such as the Journal of Nursing Education, Nursing Research.
What is the estimated finished goods inventory balance : The variable manufacturing overhead is $10 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July?
Employee performance and contribution : Share with me your philosophy on motivation and how you believe it bears on an employee's performance and contribution.
Describe the procedure for auscultation of the bowel sounds : Describe the procedure for auscultation of the bowel sounds. Differentiate the following abdominal sounds: normal, hyperactive, and hypoactive bowel sounds.
How much was the total amount of cash paid : On April 1, 2020, Texas retired 4,000,000 of these bonds at 97 plus accrued interest. How much was the total amount of cash paid for the retirement of bonds
Prepare separate entries for each transaction on the books : On June 10, Pina Colada Corp. purchased $8,800 of merchandise. Prepare separate entries for each transaction on the books of Pina Colada Corp
How he should be taking the drug and possible risk factors : Write an explanation about the HAART treatment to a 17-year-old patient. Include how the drug works, why it is preferred to other treatments, how he should be.
Find what is the estimated unit product cost : There is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated unit product cost?
Prepare the journal entries to record the transactions : Prepare the journal entries to record the transactions listed above on Rice Co.'s books. Rice Co. uses a perpetual inventory system

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much interest income should be recognized

How much interest income should be recognized in 2022?On January 2, 2018, Mark Company purchased as along-term investment a debt instrument

  Prepare the general journal entries for april

Use this information to prepare the General Journal entries (without explanation) for April 1 and April 30 (compound entry)

  Top executive officers of leach company a merchandising

top executive officers of leach company a merchandising firm are perparing the next years budgets. the controller has

  What is the overall value effect

Norton Wrench, a machine tool company, recently found out that one of its main competitors has tightened its credit standards. What is the value effect (ΔZ) of this decision on 1 day's sales? What is the overall value effect (ΔNPV)

  The snap-it-open corporation incorporated and began

the snap-it-open corporation incorporated and began operations in january 15 of the current year. its address isxxxxx

  A roasting-salting machine to produce roasted walnuts

(a) Calculate the annual depreciation charge using the straight-line method and the reducing balance method. Assume that an annual rate of 40% is applicable for the reducing balance method.

  Calculate the number of books katie needs

Assume that Katie wants to earn a profit of $4,000. Calculate the number of books Katie needs to sell to earn a desired profit of $4,000

  Completing a master budgetlo2 lo4 lo7 l08 lo9 lo10check

completing a master budgetlo2 lo4 lo7 l08 lo9 lo10check figure2a february purchases 2548004 february ending cash

  How many units were transferred out of the process in june

During June, 48,000 units were transferred into production from another department. How many units were transferred out of the process in June

  Describe what is important to include in the contract

You have been hired to oversee a major systems development effort to purchase a new accounting software package. Describe what is important to include in the contract with the software vendor.

  Determine the net present value of project

Determine the net present value of Project 1 over a eight-year life with residual value, assuming a minimum rate of return of 12%.

  Compute the carpenter company dividend revenue

Carpenter Company bought 20,000 shares of the voting stock of Hart Corporation in July 2017. Compute the Carpenter Company dividend revenue

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd