Prepare journal entry to record the issuance of this bond

Assignment Help Financial Accounting

Reference no: EM133379000

Question: On January 1, 2013, JetNew Corp. issued $300,000 of 8%, 5-year bonds, with annual interest payments on January 1. The bonds were issued when the market rate was higher than 8% and thus JetNew received $265,000 for this bond. Prepare the journal entry to record the issuance of this bond on January 1, 2013. Show how this bond would appear on the balance sheet.

Reference no: EM133379000

Questions Cloud

Consider the foliowing cash transactions for the period : Consider the foliowing cash transactions for the period: Sale of land and building $182,620; Purchase of treasury stock $45,200; Purchase of land $42,100

How would you use a unit-level financial statement : health care unit managing operations, how would you use a unit-level financial statement to impact practices

What does a teachers managing of the environment : What does a teacher's managing of the environment including classroom arrangement and management, schedules, routines, rules.

Explain briefly why consolidated accounts are prepared : Explain briefly why consolidated accounts are prepared Explain 2 advantages of preparing a statement of cash flows

Prepare journal entry to record the issuance of this bond : Prepare the journal entry to record the issuance of this bond on January 1, 2013. Show how this bond would appear on the balance sheet.

What ways recreation and leisure organizations : Reflect on how recreation and leisure professionals can best serve this special population of clients and in what ways recreation and leisure organizations.

Determine finlays total income tax deduction per pay period : Her federal and Alberta TD1 claim codes are 3. Determine Finlay's total income tax deduction per pay period

What is significance of an illusory promise in contract law : What is the significance of an illusory promise in contract law? Please provide in-text citations and references in APA7 format.

Calculate net sales reported in the income statement : Record the journal entries for the above information and Calculate net sales reported in the income statement

User Account

All Pages