Record the bond issue on january

Assignment Help Accounting Basics
Reference no: EM131613815

Question - On January 1, 2018, White Water issues $400,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Assuming the market interest rate on the issue date is 4%, the bonds will issue at $444,793.

Required -

1. Compete the first three rows of an amortization table.

Date

Cash Paid

Interest Expense

Decrease in Carrying Value

Carrying Value

1/1/18

 

 

 

 

6/30/18

 

 

 

 

12/31/18

 

 

 

 

2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.

Reference no: EM131613815

Questions Cloud

Calculate the income tax rate for your chosen company : Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company
View the bill to law process to watch the scenario : Identify a problem or concern in your community, organization, etc. that has the capacity to be legislated.
What is the expected rate of return for this stock : what is the expected rate of return for this stock under the discounted cash flow model?
Find the velocity of a car : Which is traveling faster, a car whose velocity vector is 21i? + 35j?, or a car whose velocity vector is 40i?, assuming that the units are the same.
Record the bond issue on january : Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018
What are the similarities to the us healthcare system : What is the main focus of the policy standard in this (chosen) country? What are the similarities to the U.S. healthcare system?
The firm use to discount the project cash flows : what rate should the firm use to discount the project's cash flows?
What aspects of the communication process can you use : Explain how you would respond when an individual's values conflict with yours.How would you communicate with that individual or their significant others ?
Analyze adequacy checklist for organizing intrinsic value : Analyze the proposal adequacy checklist for organizing a proposal, and summarize the intrinsic value of two of the suggestions on the checklist.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe two other internal controls over sales transactions

In addition to adequate segregation of duties, describe two other internal controls over sales transactions

  Prepare a report that shows the effect on the companys

rosiek corporation uses part a55 in one of its products. the companys accounting department reports the following costs

  Bankers concerned about future changes in the interest rate

Explain why being able to forecast the direction of interest rate changes may be critical for your success in that position.

  Acme company purchased equipment on january 1 2007 at acost

acme company purchased equipment on january 1 2007 at acost of 180000. the equipment is expected to have a useful

  Problem regarding the compensation policy

What do you mean by Compensation Policy if effective if salaries perquisites are adequate?

  What effect would accepting the order have

What effect would accepting this order have on the company's net operating income if a special price of $349.95 is offered per bracelet for this order? Should the special order be accepted at this price?

  Prepare a pension spreadsheet to show the relationship

Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset.

  Compute sales taxes payable and make the entry to record

Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax.

  Hogan company issued 500000 8 10-year bonds on january 1

hogan company issued 500000 8 10-year bonds on january 1 2007 at 96 12. interest is payable annually on january 1.

  Differences between remeasurement and translation approach

Analyze the fundamental differences between remeasurement and the translation approach when preparing a foreign currency financial statement for a company of your choice.

  Garland company has a capacity of 50000 units per year and

garland company has a capacity of 50000 units per year and is currently selling all 50000 for 500 each. garcia company

  E-commerce-performance standards

The United States Golf Association (USGA) sets performance standards for golf balls. For example, the initial velocity of the ball may not exceed 250 feet per second when measured by an apparatus approved by the USGA.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd