User Account

All Pages

Journalize the entry to record the first interest payment

Assignment Help Accounting Basics
Reference no: EM132071650

Question - On the first day of the fiscal year, a company issues a $749,000, 7%, five-year bond that pays semi-annual interest of $26,215 ($749,000 x 7% x 1/2), receiving cash of $704,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount for the six-month period using the straight-line method.

Reference no: EM132071650

Questions Cloud

Journalize the first annual note payment : Journalize the first annual note payment. For a compound transaction, if an amount box does not require an entry, leave it blank
Service which helps kids overcome cyber bullying : Social Marketing Assignment. Design a product or service which helps kids overcome Cyber Bullying. 1,500 words. Needs referencing.
What is the default risk premium of that corporate bond : What is the default risk premium of that corporate bond?
Net cash provided by the company financing activities : What was the net cash provided by the company’s financing activities?
Journalize the entry to record the first interest payment : Journalize the entry to record the first interest payment and the amortization of the related bond discount for the six-month period using straight-line method
Identifying the four basic stages that the air transport : Write a short answer essay identifying the four basic stages that the air transport sector has gone through in the deregulation era.
Highlight the areas of most importance : Create a timeline of the annual activity of labor/management collective bargaining from 1978 through 2009, providing a short synopsis of mergers
Process of finding future value of some present amount : Discounting is the process of finding the future value of some present amount.
What is the amount of gain or loss on redemption : Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000. What is the amount of gain or loss on redemption

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