Reference no: EM133185258
Question - On June 30, 2020, Aviation Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560, a yield of 12%. Aviation uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
Required - Prepare the journal entries to record the following transactions.
(1) The issuance of the bonds on June 30, 2020.
(2) The payment of interest and the amortization of the premium on December 31, 2020.
(3) The payment of interest and the amortization of the premium on June 30, 2021.
(4) The payment of interest and the amortization of the premium on December 31, 2021.
|
What level of much sales are necessary to break even
: A company has total fixed costs of $212400 and a contribution margin ratio of 20%. What level of much sales are necessary to break even
|
|
Dependent on the health of overall economy
: In general the vitality of a firm is closely dependent on the health of the overall economy. A growing economy and the favorable macro variable contribute
|
|
What is bramble company sales
: Bramble Company has fixed costs of $244000 and variable costs are 60% of sales. What is Bramble Company's sales when its operating income equals $24400
|
|
What is the selling price per unit
: Question - At the break-even point of 1700 units, variable costs are $56000, and fixed costs are $29000. What is the selling price per unit
|
|
Prepare the journal entries to record the transactions
: On June 30, 2020, Aviation Company issued $4,470,000 face value of 14%, 20-year bonds at $5,142,560, Prepare the journal entries to record the transactions
|
|
Prepare journal entries for park-n-shop
: Prepare journal entries for Park-n-Shop when a customer purchased $500 goods and chose to take this deal. You don't need to record inventory-related journal
|
|
What is the amount of credit sales of the current year
: Assuming there was no cash sales, sales returns and sales discounts, what is the amount of credit sales of the current year
|
|
Describe primary components of monetary policy
: Briefly describe the primary components of monetary policy and what tools are available to manipulate portions of the macroeconomy.
|
|
What is the correct interest expense on the lease liability
: Assuming that it is highly probable that Tarlac Corporation will exercise the renewal option, what is the correct interest expense on the lease liability
|