User Account

All Pages

Prepare journal entries for the second interest payment

Assignment Help Accounting Basics
Reference no: EM132668902

Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments.

Semiannual Period-End          Unamortized Premium            Carrying Value

(0) January 1, issuance                 $16,222                         $216,222

(1) June 30, first payment               14,600                           214,600

(2) December 31, second payment  12,978                          212,978

Problem 1: Use the above straight-line bond amortization table and prepare journal entries for the following.

(a) The issuance of bonds on January 1.
(b) The first interest payment on June 30.
(c) The second interest payment on December 31.

Reference no: EM132668902

Questions Cloud

Proper exchange of electronic data : Why is it important to ensure proper exchange of electronic data?
Proper exchange of electronic data : Why is it important to ensure proper exchange of electronic data?
Do you believe the events are historical or allegorical : Traditionally, Biblical scholars have held the opinion that the events that take place in the book of Jonah are historical events. However, many modern scholars
Why are the costs of plant or long term assets : Why are the costs of plant/long term assets recovered through depreciation vs. expensed out during the period purchased? How depreciation using this method
Prepare journal entries for the second interest payment : Prepare journal entries for the second interest payment on December 31 and first interest payment on June 30 and issuance of bonds on January 1.
Explain explanation for behavior in social cognitive theory : Please discuss and provide specific examples for some of the main differences between the explanation for behavior in Social Cognitive Theory.
Describe efficiency and effectiveness of provided layout : Provide a layout of your selected company that fulfills the critical elements below. Justify your reasoning for the important points mentioned.
Define global strategy- international expansion strategies : How do you define a global strategy? Compare and contrast global strategy with other international expansion strategies.
What situations would innovation games be an effective : In what two situations would Innovation Games be an effective research technique? Empathy maps should include which two items?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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