On february 1 2013 fox corporation issued 9 bonds dated

Assignment Help Accounting Basics
Reference no: EM13485604

On February 1, 2013, Fox Corporation issued 9% bonds dated February 1, 2013, with a face amount of $200,000. The bonds sold for $182,841 and mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semiannually on July 31 and January 31. Fox's fiscal year is the calendar year. Fox uses the straight-line method of amortization.

You may wish to prepare a partial amortization table. (Highly recommended!)

Required: 1. Prepare the journal entry to record the bond issuance for Fox on February 1, 2013.

2. Prepare the entry for Fox to record interest on July 31, 2013.

3. Prepare the necessary journal entry for Fox on December 31, 2013. 4. Prepare the necessary journal entry for Fox on January 31, 2014.

Reference no: EM13485604

Questions Cloud

How much money would you have to deposit now in a savings : 1.a local furniture store is advertising a deal in which you buy a 3000 dining room set and do not need to pay for two
What is total amount of interest expense incurred over : for mostly the same info as last problem i.e. for a 100000 face value bond issued for ritzy diner with 14 stated annual
A 1-year discount bond with a face value of 1000 was : a 1-year discount bond with a face value of 1000 was purchased for 900. what is the yield to maturity? what is the
Prepare journal entry for second interest payment on march : for a 100000 face value bond issued april 1 2014 for ritzy diner with 14 stated annual interest rate paying interest
On february 1 2013 fox corporation issued 9 bonds dated : on february 1 2013 fox corporation issued 9 bonds dated february 1 2013 with a face amount of 200000. the bonds sold
A 7-year 1000 par bond has an 8 annual coupon and is : a 7-year 1000 par bond has an 8 annual coupon and is currently yielding 7.5. the bond can be called in 2 years at a
On april 1 2011 warm universe issued 8 bonds dated april 1 : on april 1 2011 warm universe issued 8 bonds dated april 1 2011 with a face amount of 10000000. the bonds mature in
By how much will bkfcoms monthly profits change if they : in this make or buy problem you should compute the total cost of making a particular part and the total costs of buying
Can an option on the yeneuro exchange rate be created from : can an option on the yeneuro exchange rate be created from two options one on the dollareuro exchange rate and the

Reviews

Write a Review

Accounting Basics Questions & Answers

  Accounting records to the acquired asset

Equipment with an estimated market value of 75,000 is offered for sale at 95,000. the equipment is acquired for 30,00 in cash and a not payable of 50,000 due in 30 days the amount used in the buyers accounting records to the acquired asset is what..

  Unfavourable materials quantity variance

Actual production in November was 3,100 units of Titactium. There was a favourable materials price variance of $380 and an unfavourable materials quantity variance of $120. Based on these variances, what could one assume?

  Polk company builds custom fishing lures for sporting goods

polk company builds custom fishing lures for sporting goods stores. in its first year of operations 2012 the company

  A what is the amount of goodwill that joyful should record

joyful sound music company purchased the net assets i.e. assets minus liabilities of metrodome company for 845000.

  Calculate the net cash flow from financing activities for

the following accounts among others apeared on zz companys balance sheet at january 1 2005 and december 31 2005

  Difference between this bond ytm

Assume that no costs other than the call premium would be incurred to call and refund the bonds, and also assume that the yield curve is horizontal, with rates expected to remain at current levels on into the future. What is the difference between..

  Selling price 60 variable manufacturing cost 33 fixed

redtail mfg has the following data selling price 60 variable manufacturing cost 33 fixed manuf. cost 250000 per month

  Missing closing entry

Retained earnings at 1/1/10 was $150,000 and at 12/31/10 it was $200,000. During 2010 cash dividends of $60,000 were paid and a stock dividend of $40,000 was issued.

  Bonus for exceeding the monthly sales goal

Greg received a salary of $50,000 in 2010 from his employer, Green Construction Associates, Inc. In July 2010, Green gave each employee $2,500 as a bonus for exceeding the monthly sales goals. employee $2,500 as a bonus for exceeding the monthly s..

  Computing stock and portfolio beta

There are two stocks, stock A and stock B. The price of stock A today is $70. The price of stock A next year will be $50 if the economy is in recession, $80 if the economy is normal and $95 if the economy is expanding.

  Derivative instruments and investment classification

Write down the differences between traditional and derivative instruments. Why do companies use derivative instruments? Are derivatives a good investment?

  Americus camera shop uses the lower-of-cost-or-market basis

americus camera shop uses the lower-of-cost-or-market basis for its inventory. the following data are available at

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