Journal entry-bonds issuance

Reference no: EM13150397

Legacy issues $300,000 if 6%, four-year bonds dated january 1,2009, that pay interest semiannually on June 30 and December 31. They are issued at $300,300 and their market rate is 9% at the issue date. Prepare the January 1, 2009, journal entry to record the bonds' issuance.

Reference no: EM13150397

Questions Cloud

Calculating consolidated diluted earnings per share : What was the amount of Stoop's earnings that should be included in calculating consolidated diluted earnings per share?

Transfer pricing and outside opportunities : Deseronto Electronics manufactures motherboards for computers. The company is divided into two divisions: manufacturing and programming

Determine the sampling distribution of p for the study : A simple random sample of 120 orders will be used to estimate the porportion of first time consumers. Assume he is correct. What is the sampling distribution of p for the study?

How many shares of common stock were issued during 2010? : a. How many shares of common stock were issued during 2010? What was their average issue price? b. How many shares of preferred stock were issued during 2010? What was their average issue price?

Journal entry-bonds issuance : They are issued at $300,300 and their market rate is 9% at the issue date. Prepare the January 1, 2009, journal entry to record the bonds' issuance.

The demand curve shifts downwards : 1. With the introduction of a unit tax, to be paid by producers, the supply curve shifts upwards. Explain why, when the same tax is levied directly on consumers, the demand curve shifts downwards.

Are human rights universal, inalienable and indivisible : Write an essay on the topic provided, making sure that your answer demonstrates your knowledge of the course concepts. Begin by defining the key terms and concepts, and stating the relationship of these terms and concepts to one another.

Preparing monthly financial statements : Somerville Corp. purchases office supplies once a month and prepares monthly financial statements. The asset account Office Supplies on Hand has a balance of $1,450 on May 1. Purchases of supplies during May amount to $1,100. Supplies on hand at M..

Compute correlation coefficient-coefficient of determination : Calculate the correlation coefficient, coefficient of determination. Check whether there is a relation between correlation coefficient and coefficient of determination.

User Account

All Pages