User Account

All Pages

Prepare the journal entry on april

Assignment Help Accounting Basics
Reference no: EM131765555

Question - On April 1, 2010, Krupka Co. purchased $160,000 of 6% bonds for $166,300 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2015.

Instructions

(a) Prepare the journal entry on April 1, 2010.

(b) The bonds are sold on November 1, 2011 at 103 plus accrued interest. Amortization was recorded when interest was received by the straight-line method (by months and round to the nearest dollar). Prepare all entries required to properly record the sale.

Reference no: EM131765555

Questions Cloud

Calculations for reconciling account balances : Please show all calculations for reconciling account balances. Does unadjusted balance include entry write off of 3k?
What is the balance in mantle investment account : Babe Ruth's net income for 2010 was $360,000. What is the balance in Mantle's investment account at the end of 2010? Show work please
Compare three employee involvement interventions : Compare three employee involvement interventions: parallel structures, total quality management, and high-involvement organizations.
Prepare summary journal entries to record transactions : Prepare summary journal entries to record the following transactions and events a through g for a company in its first month of operations.
Prepare the journal entry on april : Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2015. Prepare the journal entry on April 1, 2010
Think of the pros and cons for each way to do business : After reviewing all of the various ways you can form a business, think of the pros and cons for each way to do business.
What actions can the ftc take against chuck : The Federal Trade Commission (FTC) learns that Chuck's Automotive Stores, a retail company that sells Rely's batteries, engages in deceptive advertising.
Describe the accounting principles : To present fairly in conformity with generally accepted accounting principles the financial statements must: Be consistently applied.
Unique management structure work : Why does W. L. Gore’s unique management structure work?

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