User Account

All Pages

On january 1 2012 morgan company acquires 350500 of

Assignment Help Accounting Basics
Reference no: EM13601276

On January 1, 2012, Morgan Company acquires $350,500 of Nicklaus, Inc., 9% bonds at a price of $333,370. The interest is payable each December 31, and the bonds mature December 31, 2014. The investment will provide Morgan Company a 11.00% yield. The bonds are classified as held-to-maturity.

(d) Prepare the journal entry for the interest receipt of December 31, 2013, and the discount amortization under the effective-interest method.

Cash DR $31545
Debt Investment DR $?
Interest Revenue CR $?

Reference no: EM13601276

Questions Cloud

Wall street journal indicating that companies are selling : wall street journal indicating that companies are selling their receivables at a record rate. discuss the reasons why a
Instead of making the switches at an average cost of 295 : barney company must decide whether to make or buy some of its components. the costs of producing 60000 switches for its
If a business were to receive 11000 in payments per year at : if a business were to receive 11000 in payments per year at the end of each year for the next 5 years from a supplier
The balanced scorecard measures organizational performance : the balanced scorecard measures organizational performance along four dimensions. is it possible that measures on the
On january 1 2012 morgan company acquires 350500 of : on january 1 2012 morgan company acquires 350500 of nicklaus inc. 9 bonds at a price of 333370. the interest is payable
The balanced scorecard measures organizational performance : the balanced scorecard measures organizational performance along four dimensions. is it possible that measures on the
Some accountants have advocated that a companys human : some accountants have advocated that a companys human assets be measured and included directly in the financial
What stakeholders might benefi t from the use of : 1. what is the international accounting standards board?2. what stakeholders might benefi t from the use of
Agree or disagree with the statement and explain why a : agree or disagree with the statement and explain why a flexible budget is really a series of static budgets. what

Reviews

Write a Review

Accounting Basics Questions & Answers

  Philips corporation issued 50000000 of its 10 bonds at par

philips corporation issued 50000000 of its 10 bonds at par at fact value of 100 on january 1 20d. on december 31 20d

  In the situation described above indicate the accounting

computer systems often sells merchandise in exchange for interest bearing notes receivable maturing in 6 12 or 24

  Compute conversion costs given the following data direct

1. in the income statement of a manufacturing company what replaces purchases in the cost of goods section of a retail

  An examination of part of an organizations procedures and

an examination of part of an organizations procedures and methods for the purpose of evaluating efficiency and

  Distribution to the preferred stockholders

Preferred dividends have been paid every year except for the preceding two years and the current year. If $145,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?

  The company paid for transportation costs of 400 the

a company purchased 2000 of merchandise on nov. 2 with terms 210 n30. on nov. 8 it returned 500 worth of merchandise.

  Carry out preliminary analytical procedures based on the

carry out preliminary analytical procedures based on the draft financial information provided and identify any issues

  Namiki cpa is auditing the financial statements of taylor

namiki cpa is auditing the financial statements of taylor corporation for the year ended december 31 2009. namiki plans

  Result of negligence on company part

Vernon Co. is being sued for illness caused to local residents as a result of negligence on the company's part in permitting the local residents to be exposed to highly toxic chemicals from its plant. Vernon's lawyer states that it is probable tha..

  Calculate the annual rate of return

The oil well will cost $490,000 and will have a $10,000 salvage value at the end of its 10-year useful life. Calculate the annual rate of return.

  Stock basis at the end of the year

Finch's taxable income for the current year is $100,000, and it distributes $200,000 to each shareholder. Betty's stock basis at the end of the year is:

  As required to complete course project 1 one must follow

as required to complete course project 1 one must follow the cycle that includes 10 steps to complete the accounting

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