User Account

All Pages

Journalize the redemption of the bonds

Assignment Help Financial Accounting
Reference no: EM132859817

Question -

On the first day of the fiscal year, a company issues a $930,000, 8%, 5-year bond that pays semiannual interest of $37,200 ($930,000 x 8% × 1/2), receiving cash of $884,171. Journalize the entry to record the issuance of the bonds.

A $500,000 bond issue on which there is an unamortized discount of $34,000 is redeemed for $472,000. Journalize the redemption of the bonds.

Reference no: EM132859817

Questions Cloud

What is the company current ratio : The following balance sheet information is provided for Duke Company for Year 2: What is the company's current ratio
What is the cost of goods sold per unit : At the rate of P25 per machine hour Job #03 requires 800 machine hours. If Job #03 resulted in 7,000 good units, what is the cost of goods sold per unit?
Explain difference between likelihood and probability : Describe the change in the time complexity of K-means as the number of clusters to be found increases. Explain the difference between likelihood and probability
What was the total cost of job for january : What was the total cost of Job #123 for January? Queen Co. is a print shop, which produces jobs to customer specification. During January, Job #123 was worked
Journalize the redemption of the bonds : A $500,000 bond issue on which there is an unamortized discount of $34,000 is redeemed for $472,000. Journalize the redemption of the bonds
What amount of direct labor costs has been charged to job : Job # 34 has direct material of P2,000 and direct labor of P9,000. What amount of direct labor costs has been charged to Job #33?
How much will you need today as a single amount : How much will you need today as a single amount to provide the fund calculated in part a if you earn only 9% per year during the 20 years preceding retirement
Analyze asymmetric and symmetric encryption : Analyze asymmetric and symmetric encryption. Evaluate the differences between the two of them and which one that you would determine is the most secure.
Create a domain-name using the name of a character : Create a domain-name using the name of a character from your favourite movie as the domain name

Reviews

Write a Review

Financial Accounting Questions & Answers

  Do you agree with either of these individuals

Another employee argued that a Private Purpose Trust Fund should be used for both principal and income. Do you agree with either of these individuals, or do you have a better suggestion?

  Describe the expected values and signs of the coefficients

The risk-free rate of return is 2%. Describe the expected values and signs of the coefficients ?0, ?1 and ?2 to support the standard finance CAPM model.

  Prepare the journal entries for the years

The company will revalue the equipment annually since the equipment's fair value changes every year. Prepare the journal entries for the years 2017 and 2018

  What the original cost of the asset is

What the original cost of the asset is? Sim Company sold a machine in 2018. The machine had accumulated depreciation of $50,000 and a salvage value

  What value should switzer inc have for the computers

At the statement date, each computer has a current replacement cost of $600. What value should Switzer, Inc., have for the computers at the end of the year?

  Explain basic terminology of the accounting process

Describe for the students the primary objectives of accounting. Explain basic terminology of the accounting process or financial reporting.

  Determine the total shareholder equity amount

Consider the following data: Cash $15,200, Accounts receivable 29,500, Accounts payable 34,500, Note payable 50,000. Determine Total Shareholder Equity amount

  How to prepare the journal entry to record interest expense

How to prepare the journal entries to record interest expense for 2022 under both of the bond issuances assuming they sold at: (1) 101 and (2) 98.

  Prepare trial balance of oakland floor coverings

Prepare the trial balance of Oakland Floor Coverings at December 31, 2012 - Oakland Floor Coverings reported the following summarized data at December

  Calculate the accrual accounting rate of return

Cassaro Corp. is considering building a new facility to extract natural gas, process the natural gas, and distribute it to buyers. Building such a facility is extremely complicated and time-consuming. Excluding the additional capital expenditures req..

  The change in fair value is deemed temporary

At the beginning of year 2, a company invested $40,000 in a marketable equity security. At that time the security was appropriately classified as an available-for-sale security. At the end of year 2, the security had a fair value of $28,500. The chan..

  How much of the liabilities are classified as long-term debt

How much of these liabilities are classified as long-term debt? How much of their debt is maturing in each of the next five years? How much is maturing in more than five years?

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