User Account

All Pages

Prepare the journal entry to record the bond payable

Assignment Help Financial Accounting
Reference no: EM132044094

On january 1, 2013, a company issued and sold an 900,000, 6%, five-year bond payable and received proceeds of 950,000. Interest payable each june 30 and december 31. The company uses the straight line method to amortize the premium. Prepare the journal entry to record the bond payable and journal entry to record the first interest payment.

Reference no: EM132044094

Questions Cloud

Temporary and permanent tax differences : Give an example of a transaction that is handled differently for GAAP than it is for income taxes. Is it a permanent or a temporary difference and why?
Prepare separate sales budgets for each division : Instructions - Prepare separate sales budgets for each division and for the company in total for the second quarter of 2011
Prepare the jornal entry to retire the bonds : The company retired these bonds by buying them on the open market at 98. Prepare the jornal entry to retire the bonds.
Record the first semiannual interest payment : Record the journal entry to record the bonds payable then using the straight line method, record the first semiannual interest payment die june 30.
Prepare the journal entry to record the bond payable : Prepare the journal entry to record the bond payable and journal entry to record the first interest payment.
How does this lesson apply to events and outcomes : The work, Sunjata, ends with the statement, "Everybody does what he wants, but God makes the final decision."
What number of shares to be used in computing earnings : What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively, for the year ended December 31, 2013
Why do you think the recent covert operation in syria proved : What are some of the difficulties in implementing covert operations in a democratic state, and given their top-down, secretive character?
Earn on investment for option : Your Grandfather has just given you $5000. After careful consideration you have decided you want to set the money aside and wait until you graduate

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determining the amount of loss

Dunn's accounting year ends on December 31, and the 2011 financial statements were issued on March 2, 2012. What amount of loss should Dunn accrue at December 3

  What is the present value of the leasing

How would I solve the fallowing question without using Microsoft Xl. a breakdown on the equation would be much appreciated

  Prepare a schedule in excel to correct the net income

Please prepare a schedule in Excel to correct the net income for 2009 and 2010. Please start the schedule with the reported income for 2009 and 2010 and then work to a corrected figure.

  What amount of interest expense should be recorded

On January 1, 2014, Cron Corporation issued $850,000 in bonds that mature in ten years. The bonds have a stated interest rate of 14 percent and pay interest on June 30 and December 31 each year. When the bonds were sold, the market rate of interest w..

  Find the reorder point

Launch the POM-QM for Windows software and from the main menu select Module, and then Materials Resource Planning.

  Prepare the trial balance on mar 31 2010

Balances have been taken from the ledger of Mr. Vasanth as on Mar 31, 2010. You are required to prepare the Trial Balance as on 31.3.2010.

  Create startup budget for a nonprofit

Create a startup Budget for a nonprofit small ESL school for students 2nd to 6th grades in Hoboken ,NJ (PLEASE NOTE THAT ALL NUMBERS HAVE TO BE FROM REAL LIFE ) Please consider the following:

  Balance sheet show the balance of the common stock account

Brando Corporation issued 300,000 shares of $4 par-value common stock at the time of its incorporation. The stock was issued for cash at a price of $15 per share. During the first year of operations, the company sustained a net loss of $100,000. How ..

  Calculate the estimated cash receipts

Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,600 August 105,300 Forecast: Calculate the estimated cash receipts for September, October, and Novembe..

  When the fed conducts open-market operations

When the Fed conducts open-market operations, it primarily uses

  History of conflict with female employees

Leonard Bailey is one of several partners in a medium sized (50 employees) CPA firm. Wilma Lawrence is the controller of ABC Manufacturing, one of Leonard’s clients. She has been with the company for 28 years and is very protective of what she consid..

  Determine how kmart and sears approached change in owner

Determine how Kmart and Sears approached the change in ownership interest under current GAAP and how that approach would differ under proposed GAAP. Provide specific examples to support your response.

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