Reference no: EM131211071
On January 1, 2017, Monty Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was $19,200. Prepare the corporation’s journal entry to record the reacquisition of the bonds.
|
The net position accounts of the enterprise fund
: During the year an enterprise fund purchased $230,000 worth of equipment. The equipment was acquired with a cash down payment of $30,000 and a $200,000 loan. A partial year of depreciation on the equipment was taken in the amount of $23,000. What is ..
|
|
Maturity value-number of interest periods over life of bond
: Sunland Inc. has issued three types of debt on January 1, 2017, the start of the company’s fiscal year. (a) $12 million, 12-year, 13% unsecured bonds, interest payable quarterly. Prepare a schedule that identifies the following items for each bond: (..
|
|
Prepare the journal entry at the date of the bond issuance
: On January 1, 2017, Coronado Company sold 11% bonds having a maturity value of $470,000 for $487,816, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 ..
|
|
Prepare journal entries
: Sarasota Corporation issued a 4-year, $72,000, zero-interest-bearing note to Brown Company on January 1, 2017, and received cash of $47,429. The implicit interest rate is 11%. Prepare Sarasota’s journal entries for
|
|
Journal entry to record the reacquisition of the bonds
: On January 1, 2017, Monty Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was $19,200. Prepare the corporation’s journal entry to record the reacquisition of the bonds.
|
|
What is the company ending inventory
: The following relates to Data Original Company in 2014. What is the company's ending inventory for 2014?
|
|
Calculate supply chain metrics for zoom
: In the month of June, Zoom Auto sold 60 vehicles and had account receivable of $200,000.00. A vehicle costs $50,000, accounts payable is $250,000 and the cost of sales is 75%, and the current value of total inventory is $500,000.00. Calculate supply ..
|
|
Budgeting process
: The chief executive officer (CEO) of Rigid Plastics Corporation remarked to a colleague, “I don’t understand why other companies waste so much time in the budgeting process. I set our company goals, and everyone strives to meet them. What’s wrong wit..
|
|
Differences in depreciation methods in financial records
: Accelerated depreciation methods such as sum-of-years-digits lead to lower expenses/higher incomes earlier in an equipment's life and higher expenses/lower incomes later in the equipment's life. Differences between depreciation methods in financial r..
|