Reference no: EM13793533
Doyle Company issued a $500,000 of 10 year, 7% bonds on January 1, 2016. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $125,000 cash revenue, which was collected on December 31 of each year, beginning December 21, 2016.
Prepare the journal entries for these events, and post them to T-accounts for 2016 and 2017.
Prepare the income statement, balance sheet and statement of cash flows for 2016 and 2017.
Exercise 10-7A on page 568
On January 1, 2016, Bell Corp. issued $180,000 of 10 year, 6% bonds at their face amount. Interest is payable on December 31 of each year with the first payment due December 31, 2016.
Prepare all journal entries related to these bonds for 2016 and 2017.
Exercise 10-8A on page 568
Nivan Co. issued $500,000 of 5%, 10 year, callable bonds on January 1, 2016, at their face value. The call premium was 3 percent (bonds are callable at 103). Interest was payable annually on December 31. The bonds were called on December 31, 2020.
Prepare the journal entries to record the bond issue on January 1, 2016, and the bond redemption on December 31, 2020. Entries for accrual and payment of interest are not required.
|
About the start college education
: Gina has planned to start college education in 4 years from now. To pay for her college education, she has decided to save $1000 a quarter for the next 4 years in a bank account paying 12% interest (Compounded Quarterly). How much will she have at th..
|
|
Anti-bias learning environments issues
: What math, science, and social studies concepts were addressed in the Integrated Literature Unit?
|
|
What is leveraged recapitalization
: Define the three conditions that make up a perfect capital market, and then compare and contrast the effects of perfect capital markets and imperfect capital markets on value. Can they create or destroy value? Explain.
|
|
Instalment sale method for tax purposes
: Instalment sale method for tax purposes. Please (1) Find some company who used this in the recent past (2) provide a link that shows an explanation of why and on what they used it for and (3) state what (if any) their other options were
|
|
Prepare income statement-balance sheet and cash flow
: Doyle Company issued a $500,000 of 10 year, 7% bonds on January 1, 2016. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Prepare the income statement, balance sheet and statement of cash flows for 2016 an..
|
|
List preliminary topics that you potentially develop
: List three preliminary topics that you could potentially develop into fully researched, persuasive essays over the duration of this class.
|
|
Bcg matrix to analyze kraft''s strategic plan
: Apply SWOT, Porter's Five Forces, or the BCG Matrix to analyze Kraft's strategic plan to expand into international markets. How would you determine which markets to target short versus long term
|
|
What are the downsides to using social media
: What are the downsides to using social media
|
|
Variable costs and fixed costs for current activity level
: Award Plus Co. manufactures medals for winners of athletic events and other contests. Its manufacturing plant has the capacity to produce 10,000 medals each month; current monthly production is 7,500 medals. Determine if Award Plus Co. should accept ..
|