Reference no: EM132553818
Riverbed Ltd. sold $6,700,000 of 10% bonds, which were dated March 1, 2020, on June 1, 2020. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2030, and the bonds were issued to yield 12%. Riverbed's fiscal year-end was February 28, and the company followed IFRS. On June 1, 2021, Riverbed bought back $2,700,000 worth of bonds for $2,600,000 plus accrued interest.
Using 1. a financial calculator, or 2. Excel function PV, calculate the issue price of the bonds and prepare the entry for the issuance of the bonds. (Hint: Use the account Interest Payable in your entry)
Question 1: Prepare the journal entry for the scheduled interest payment on September 1, 2020
Question 2: Prepare year-end entry required at February 28, 2021.
Question 3: Prepare the entry required for the redemption of face value $2,700,000 of the bonds on June 1, 2021.
What is the main concept of the faithful reading approach
: What is the main concept of the faithful reading approach in terms of resolving conflict between theology and psychology? What is the main concept of the.
|
Calculate preferred and common dividend in each case
: Calculate preferred and common dividend in each case. Determine how much each class of shares should receive if the preferred shares
|
Sodium ethoxide in ethanol
: A reaction was designed that produced either molecule A below or molecule B, both shown below.
|
Executive report on ethics in the hr profession
: The Director of Human Resources at Green Branch Coffee was impressed with the first part of your executive report on ethics in the HR profession
|
Prepare year-end entry required at february
: Prepare the entry required for the redemption of face value $2,700,000 of the bonds on June 1, 2021. Prepare year-end entry required at February 28, 2021.
|
What is Apple strategy
: What is Apple's strategy? Describe how Apple handles operations and innovation? What does Apple's supply chain look like?
|
Prepare the journal entry for the issue of the note
: Prepare the entry at December 31, 2021, the fiscal year end of the company. Prepare the journal entry for the issue of the note on the books of Sandhill.
|
Methane gas is used as fuel for ovens
: Methane gas is used as fuel for ovens, homes, and water heaters. What volume (in L) will 3.21 mol of methane
|
What will happen to the stock price
: New cruises will be down 50%, but Carnival Cruises announces today that that its bookings are actually down 38%, what will happen to the stock price?
|