Nash co issued bonds with a face value of 120000 on january

Assignment Help Accounting Basics
Reference no: EM13482473

Nash Co. issued bonds with a face value of $120,000 on January 1, 2012. The bonds had a 6 percent stated rate of interest and a five-year term. The bonds were issued at face value.

Required:
(a)

What total amount of interest will Nash pay in 2012 if bond interest is paid annually each December 31?(Omit the "$" sign in your response.)

 

  Total amount of interest $   

 

(b)

What total amount of interest will Nash pay in 2012 if bond interest is paid semiannually each June 30 and December 31? (Omit the "$" sign in your response.)

 


Total Amount
of Interest
  June 30 $      
  December 31 $      

Reference no: EM13482473

Questions Cloud

Special orders sherene nili manages a company that produces : special orders sherene nili manages a company that produces wedding gowns. she produces both a custom product that is
The companys ceo believed that the rules are vague and that : smc. inc. operates restaurants based on various themes such as mex - delight chinese for the buffet and steak it and
Compute the product cost a unframed print base cost of : nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspunfr
Determine how many new clients must visit the law office : steven clark and two of his colleagues are considering opening a law office in a large metropolitan area that would
Nash co issued bonds with a face value of 120000 on january : nash co. issued bonds with a face value of 120000 on january 1 2012. the bonds had a 6 percent stated rate of interest
The following information was gathered to prepare budgets : a company produces doors. the following information was gathered to prepare budgets for the upcoming year beginning
Wayne cos production plan for 5000 units of production : wayne cos production plan for 5000 units of production provided for 25000 of direct labor 35000 of direct materials and
The bonds are callable at 101 ie at 101 of face amount and : 24800 were incurred in connection with the issue. interest on the bonds is payable annually each december 31. the 24800
Benson and orton are partners who share income in the ratio : benson and orton are partners who share income in the ratio of 23 and have capital balances of 60000 and 40000

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the ending balance of cost of goods sold

Zeke Company is a manufacturing company that has worked on several production jobs during the 1st quarter of the year. Below is a list of all the jobs for the quarter:

  Journal entries to issue the bonds

Give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders.

  Strategy for a taxpayer

Some people have more taxes withheld from their paychecks than is needed in order to get a refund every spring. Why would they do this? Do you agree with this strategy for a taxpayer?

  Determine the dl and dm variances and provide explanations

ryt aka rotyourteeth candy company sells lollipops. last year the company sold 10000000 lollipops for 1000000. the

  Company overhead application rate

Johnson Auto Body uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours. During the current period, was charged $425 in direct materials, $475 in direct labor, and $190 in overhead. If direct labor costs an a..

  What is the total package contribution margin

Standlar Company makes wireless speakers. The standard model price is $360 and variable expenses are $210. The deluxe model price is $500 and variable expenses are $300.

  Using the degree of operating leverage estimate the impact

compute and use the degree of operating leverage lo8 eneliko company installs home theater systems. the companys most

  In addition to the 9 bonds payable the only debt

early in 2014 dobbs corporation engaged kiner inc. to design and construct a complete modernization of dobbss

  Preparation and subsequent use of budget

Submit your budget to the store manager with no more than a 700-word write-up for the budget. The write-up must include risks associated with sales forecasts and an analysis of ethical considerations in the preparation and subsequent use of the bu..

  If you had been an accountant for this company

If you had been an accountant for this company, how would you have acted?  Explain why.What might have been done to prevent the controversy?

  Fund balance of capital projects fund

Supposing the county has incurred $800,000 of construction costs on the project by end of its fiscal year (June 30,20x5), the fund balance of capital projects fund employed to account for this project would be?

  Prepare the correcting entries

A 4-for-1 stock split involving the issue of 400,000 shares of $5 par value common stock for 100,000 shares of $20 par value common stock was recorded as a debit to Retained Earnings $2,000,000 and a credit to Common Stock $2,000,000. Prepare the ..

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd