Record the bond issue on january one

Assignment Help Accounting Basics
Reference no: EM131881219

Problem

1. On January 1, 2018, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $580,000 of 8% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year.

2. If the market interest rate is 9%, the bonds will issue at $542,277. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. If the market interest rate is 7%, the bonds will issue at $621,216. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM131881219

Questions Cloud

Define misalignment in the information systems strategy : What were the points of alignment and misalignment between the Information Systems Strategy and the FBI organization?
Calculate abc companys debt-to-equity ratio at january : Calculate ABC Company's debt-to-equity ratio at January 31. Enter your answer as a number with two places after the decimal point (i.e., 6.78).
What is the duration if the maturity increases to 7 years : What is the duration of a zero-coupon bond that has six years to maturity?What is the duration if the maturity increases to 7 years?
What instruments or securities are traded in the markets : Identify the main features, similarities, and differences in the principal global organized exchanges.
Record the bond issue on january one : Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.
You advise her to invest it in stock market : She can save $6,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 6% in the future.
Why might worker resist the implementation of new technology : Why might a worker resist the implementation of a new technology? What are some of the possible consequences of asking a worker to use a computer or similar.
Why a firm wants to raise new equity capital : What are 3 reasons that explain why a firm would want to raise new capital through debt rather than equity?
Draw a specific energy curve : Determine the normal depth and Critical depth and Draw a specific energy curve - Calculate the alternate depth for the same specific energy

Reviews

Write a Review

Accounting Basics Questions & Answers

  David company produces two types of gears gear a and gear b

david company produces two types of gears gear a and gear b with unit contribution margins of 6 and 8 respectively.

  Prepare journal entries to record each of the events listed

16FL­AC161­44 ­ PRINCIPLES OF ACCOUNTING ASSIGNMENT. Maquoketa Services was formed on May 1, 2017. The following transactions took place during the first month. Prepare journal entries to record each of the events listed

  Few contemporary men judge

In August 2004, Time magazine reported the results of a random telephone poll commissioned by the Spike network. Of the 1302 men who responded, only 39 said that their most important measure of success was their work.

  Journal entries for selected transactions and events

(Journal entries for selected transactions and events) The General Fund postclosing trial balance of the City of Harlan Heights showed the following balances.

  Limited efficiency in collecting receivables

What conclusions can be drawn from these analyses regarding The Limited's efficiency in collecting receivables?

  Prepare a correcting entry on december

Required: Prepare a correcting entry on December 30. Make sure to enter the day for each separate transaction

  Record the transactions on the books of the employees

ACCT567 Case Study. The City of Shipley maintains an Employee Retirement Fund; Record the transactions on the books of the Employees Retirement Fund

  Unethical behavior on the profitability of the company

What was the affect of unethical behavior on the profitability of the company?

  Should lexington purchase the burners from outside vendor

On the basis of financial considerations alone, should Lexington purchase the burners from the outside vendor? Show your calculations.

  Financial performance indicators

Give some examples of key financial performance indicators (no computations needed) that could be part of a balanced scorecard for the IAA.Give some examples of key customer and operating performance indicators (no computations needed) that could be ..

  What is the unit cost of each model transferred to finished

washington inc. makes three models of motorized carts for vacation resorts x-10 x-20 and x-40. washington manufactures

  Describe the main idea behind variable costing is this type

describe the main idea behind variable costing? is this type of costing more prefereable when compared to throupoint

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