User Account

All Pages

How you make journal entry to record interest accural

Assignment Help Accounting Basics
Reference no: EM132768149

Question: On January 1, 2020, Jackson Corporation issued $500,000, 12%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Jackson Corporation has a calendar year-end and prepares annual adjusting entries.

Required: (a) I am not sure what should go into the general journal entry to record the issuance of the bonds.

(b) Can you please explain what journal entry to record for the July 1 interest payment.

(c) How do i make a general journal entry to record the December 31 interest accrual. Please explain in detail sothat i understand what the answers mean.

Reference no: EM132768149

Questions Cloud

Record the depreciation using given data : Sold used shop equipment (metal lathe) for $320.00. The equipment was purchased at a total cost of $2,200.00 early in 2009. Using units of production.
CLWM4000 Business and Corporations Law Assignment : CLWM4000 Business and Corporations Law Assignment Help and Solution, Kaplan Business School - Assessment Writing Service
How much should it report as a foreign exchange gain : Able Company had a receivable that is payable in the customer's local currency (a foreign currency). On December 31, 2020 Able correctly included this.
Identify issues surrounding the potential engagement : You are an audit manager of C & A Company, a CPA firm in Hong Kong SAR. Recently a partner of your firm, Mr. Calvin Cheung gave you an instruction.
How you make journal entry to record interest accural : How do i make a general journal entry to record the December 31 interest accrual. Please explain in detail sothat i understand what the answers mean.
Compute the weighted average accumulated expenditures : Company X took out an 8%, 2-year loan on January 1, 2019 to use for the building construction for $3,000,000. The company also had other debt already.
Develop a list of tasks that a cfo would be responsible : Develop a list of tasks that a newly appointed CFO would be responsible for including relevant reports they will access and review and the schedule for when.
How much cash will whitmore corp pay the bondholders : On January 1, 2019, Whitmore Corp Issues $600,000 of 9% 15 year bonds that pay interest annually on December 31st each year. Bonds of similar risk and maturity.
ACCM4400 Auditing and Assurance Assignment : ACCM4400 Auditing and Assurance Assignment Help and Solution, Kaplan Business School - Assessment Writing Service - prepare a short video presentation

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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