User Account

All Pages

Journalize the entries to record the purchase of the bonds

Assignment Help Accounting Basics
Reference no: EM132813214

Entries for bond (held-to-maturity) investments

Gillooly Co. purchased $81,000 of 5%, 12-year Lumpkin County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Gillooly Co. sold $30,000 of the Lumpkin County bonds at 103 plus $125 accrued interest less a $1,000 brokerage commission.

problem 1: Journalize the entries to record the purchase of the bonds on May 11 plus 40 days of accrued interest

Reference no: EM132813214

Questions Cloud

What the adjusting entry to be made by the ayayai corp is : Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Ayayai Corp. is
Create a literacy-rich environment : Imagine you are setting up your classroom and want to create a literacy-rich environment. Describe the age of the students you serve as well as what someone.
Compute the price and quantity variances for october : Compute the price and quantity variances for October. The variable and fixed manufacturing overhead rates are based on direct labour-hours.
Who are the authors arguing for or against : The idea of personal responses are to engage in thoughtful internal dialogue about the idea of global issues and education. You should attempt, in your.
Journalize the entries to record the purchase of the bonds : Entries for bond (held-to-maturity) investments, Journalize the entries to record the purchase of the bonds on May 11 plus 40 days of accrued interest
Determine the type of evaluation approach : Determine the type of evaluation approach that is most appropriate for your project. Provide a rationale for your selection. Determine three (3) learning.
How is the refund treated for income tax purposes : Tobias overpays his 2018 state tax by $500 and gets a refund of $510 (500 plus $10 in interest) in 2019. How is this refund treated for income tax purposes?
What is the total cash price of his car : Question - Vladimir purchased a newcar for 99,000 down payment and 15,000 every month. What is the total cash price of his car
Which is true business licenses in california : Which is true business licenses in california? distributors of cannabis need a cannabis tax permit, wich serves also as the required seller's permit.

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