User Account

All Pages

Prepare the journal entries to record semiannual interest

Assignment Help Accounting Basics
Reference no: EM131783729

Question - The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2010, included 12% bonds having a face amount of $16 million and a remaining discount of $0.8 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2011, Twin Digital retired the bonds at 102 ($16.32 million) before their scheduled maturity.

Prepare the journal entries by Twin Digital to record the semiannual interest on July 1, 2011, as well as to record the redemption of the bonds on July 1, 2011.

Reference no: EM131783729

Questions Cloud

What is susans incremental profit if she choose option three : Susan is trying to decide whether or not to attend college during the next 12-week. What is Susan's incremental profit if she chooses option 3 over option 2?
Computation of future costs : Please specify your assumptions for computation of future costs and needed annual savings.
What is the balance in paid-in capital : What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year
Standard deviation of the returns on misheak inc : The shares of XYZ, Inc. are expected to generate the following possible returns over the next 12 months:
Prepare the journal entries to record semiannual interest : Prepare the journal entries by Twin Digital to record the semiannual interest on July 1, 2011, as well as to record the redemption of the bonds on July 1, 2011
How much is expected total variable cost on august budget : If production and sales are budgeted to change 100 chairs in August, how much is the expected total variable cost on the August budget?
What would its implied alpha be : The expected return of the market is 12%, the stock of XYZ Corp. has a beta coefficient of 1.2, and the risk-free rate of return is 3%. If the stock's realized
Complete the equations of motion for the system : Instead, draw the components of -F as shown. By taking each d? separately, the virtual work equation can be easily determined visually.
Present value of the dividend at the end of year : What is the present value of the dividend at the end of year 7?

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