On october 1 2012 noller company issued 4000000 par value

Assignment Help Accounting Basics
Reference no: EM13610494

On October 1, 2012 Noller Company issued $4,000,000 par value, 10%, 10-year bonds dated July 1, 2012, with interest payable semiannually,on January 1 and July 1. The bonds are issued at $4,542,000 (to yield 8%) plus accrued interest. The effective interest method is used.

a) Prepare the journal entry at the date the bonds are issued?

b) Prepare the adjusting entry at December 31, 2012, the end of the fiscal year c)Prepare the entry for the interest payment on January 1, 2013?

Reference no: EM13610494

Questions Cloud

Investment securities can be classified as hold to maturity : investment securities can be classified as hold to maturity available for sale or trade. the specific classification
A project has the following cash flows year 0 cash flow : a project has the following cash flows year 0 cash flow 58000 year 1 cash flow -34000 year 2 cash flow -45000a. what is
Part 1 - summer tyme inc is considering a new three-year : part 1 - summer tyme inc. is considering a new three-year expansion project that requires an initial fixed asset
What would be recorded in the common stock account on the : what would be recorded in the common stock account on the balance sheet if 20000 shares are issued at a par value of 2
On october 1 2012 noller company issued 4000000 par value : on october 1 2012 noller company issued 4000000 par value 10 10-year bonds dated july 1 2012 with interest payable
Reeves inc sold 1000000 shares of 25 par value common stock : reeves inc. sold 1000000 shares of 25 par value common stock at 30. it subsequently repurchased 100000 of those shares
Gross pay wages expense 250000 social security and : gross pay wages expense 250000 social security and medicare taxes 19125 federal and state unemployment taxes 15500
Grammar inc offers its full-time employees pension and : grammar inc. offers its full-time employees pension and other postretirement benefits primarily health insurance.
New wave co sold 14000 annual subscriptions of game life : new wave co. sold 14000 annual subscriptions of game life for 51 during december 2012. these new subscribers will

Reviews

Write a Review

Accounting Basics Questions & Answers

  The dynamaco company uses cost-plus pricing with a 50

the dynamaco company uses cost-plus pricing with a 50 mark-up. the company is currently selling 100000 units at 12 per

  The controller of olaf corporation wants to establish a

the controller of olaf corporation wants to establish a minimum rate of return and would like to use a weighted-average

  Green plains supply co has the following transactions

green plains supply co. has the following transactions related to notes receivable during the last 2 months of the

  Tax return and gross income

He made 12 such payments in 2009. Assuming that Alice has no other income, her tax return for 2009 should show gross income of:

  Which are sunk are 20 per unit the market price of x is 70

which are sunk are 20 per unit. the market price of x is 70 per unit. beta division of carlson company uses product x

  Able companys current allowance for uncollectable accounts

1.in 2014 heirs of the original creator of copyright that able company purchased filed a lawsuit claiming they were

  Renee manufactured and sold a gadget a specialized asset

renee manufactured and sold a gadget a specialized asset used by auto manufacturers that qualifies for the domestic

  At the end of year 1 the companys board of directors set a

at the end of year 1 the companys board of directors set a target for year 2 of net operating income of 140000 under

  Compute depreciation expense and carrying value

Use MS Excel to prepare an annual depreciation schedule for the fixed assets of Bison Industries as of December 31, 2012. At a minimum the schedule should include the following information.

  Book value of purchase and accounting principles

The Baldwin Company has just purchased $39,660,000 of plant and equipment that has an estimated useful life of 15 years. Suppose at the end of 15 years this plant and equipment can be salvaged for $3,966,000 (1/10th of its original cost). What wil..

  You need to present to your client alice cartwright some

you need to present to your client alice cartwright some investment options for her to choose from. her choices are

  The company faces two choices that mr smith must evaluate

the company faces two choices that mr. smith must evaluate with your assistance continue with the current smaller sized

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