Reference no: EM133150237
Question - Audrey Corporation Advanced - On January 1, 2000, Audrey Corporation issued $100,000 of 10% coupon rate bonds to yield an effective rate of 12%. Interest is paid semi-annually on June 30 and December 31. The bonds mature in five years, i.e., on January 1, 2005. Audrey incurred $10,000 in issuance costs and has a September 30th fiscal year end.
Required -
1. Prepare the journal entry to record the bond issuance.
2. Prepare the amortization schedule for the entire bond's life (5 years).
3. Prepare the journal entries that Audrey Corporation would make on:
a. December 31, 2000.
b. June 30, 2001.
c. September 30, 2001.
4. Prepare Audrey's Statement of Cash Flows for the fiscal year ended September 30, 2001.
5. Assume that on September 30, 2001 Audrey calls the bonds for 97. Prepare the journal entry to record the bond call.
6. Prepare Audrey's Statement of Cash Flows for the fiscal year ended September 30, 2001 assuming the call took place.
|
Prepare a journals entries by using partial methods
: Actual production volume 3483 unit, Total Allocated Rate $10, Fixed Allocated Rate $7. Prepare a journals entries by using partial methods
|
|
What is the effective annual rate of interest paid
: Alternatively, the policy pays ?$617.32 at the beginning of each year for nine years. What is the effective annual rate of interest paid
|
|
What you determine about consumer demand for your product
: The cross-price elasticity of demand between your good and a related good is 2.0. What can you determine about consumer demand for your product
|
|
Record the purchase of the assets on the books of cullumber
: The assets were on the books of Kingswood for the following amounts: Land: $36,000, Record the purchase of the assets on the books of Cullumber
|
|
Prepare audrey statement of cash flows for the fiscal year
: Prepare Audrey's Statement of Cash Flows for the fiscal year ended September 30, 2001 assuming the call took place
|
|
By how much would gross profit for the period be greater
: The company decided to use LIFO and sold two shredders in January. If company had used FIFO, by how much would gross profit for the period be greater or less
|
|
What is the peg ratio
: PEGCOR has a? P/E ratio of 18.2. Earnings per share are $1.95?, and the expected EPS 5 years from today are $2.83. What is the PEG ratio
|
|
How much must she deposit now in a savings account
: Cheryl wants to have ?$4,000 in spending money to take on a trip to Disney World in three years. How much must she deposit now in a savings account
|
|
Calculate the gross profit to be recognized each year
: Wildhorse Construction, which follows ASPE entered into a contract to construct a bridge for a contract price of $2.8 million. Calculate the gross profit
|