User Account

All Pages

Prepare the journal entry at the date of the bond purchase

Assignment Help Financial Accounting
Reference no: EM132517907

On 1 January 2018, Open Bhd purchased 12% (stated rate) bonds, having a maturity value of RM500,000 for RM537,907.40. The bonds provide the bondholders with a 10% yield (market rate). They are dated 1 January 2018 and mature 1 January 2023 with interest receivable 31 December of each year. Open Bhd business model is to hold these bonds to collect contractual cash flows.

REQUIRED:

Question (a) Prepare the journal entry at the date of the bond purchase.

Question (b) Prepare a bond amortization schedule.

Question (c) Prepare the journal entry to record the interest received and the amortization for 2018.

Question (d) Prepare the journal entry on 1 January 2023.

Reference no: EM132517907

Questions Cloud

Illustrate the short run effects on the macroeconomy : Illustrate the short run effects on the macroeconomy by using the aggregate demand-aggregate supply model.
Database platforms-graph databases : We have been assigned one of the class of database platforms i.e. Graph Databases. There is a need to prepare both presentation and research for the same.
Discuss the monetary tools available to the federal reserve : Describe how expansionary activities conducted by the Federal Reserve impact credit availability, the money supply, interest rates, security prices
Write recommendation for solving critical resource problem : You have been asked to replace the project manager who was heading up your firm's new compensation and benefits system. One of the reasons the project manager.
Prepare the journal entry at the date of the bond purchase : Prepare the journal entry to record the interest received and the amortization for 2018. Prepare the journal entry at the date of the bond purchase.
Difference between job enrichment and job enlargement : What are some of the benefits of a diverse workforce in the workplace? How have you seen these impacted in places you have worked or you personally?
What do you understand by early warning systems : What do you understand by "Early Warning Systems" for banking crises? What is the CAMELS approach?
How are the inventory assets and liabilities : How are the Accounts Payable, Inventory assets and liabilities classified in a balance sheet? What principles are used to value each item?
Describe the information contained in the balance sheet : Describe the information contained in the balance sheet and income statements of a retail bank. (question completed)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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