User Account

All Pages

Record the elimination and adjustment entries

Assignment Help Accounting Basics
Reference no: EM132118116

Question - On Jan 1, 2014, the Sub issues $400,000 7.5% 8 year bonds at 92% interest payable annually on Dec 31. The Sub is 85% owned by the Parent. On Jan 1, 2017, the Parent purchases the Sub's Bonds for $412,500.

Required: Record the Elimination and Adjustment Entries for Dec 31, 2017 & 2018.

Reference no: EM132118116

Questions Cloud

What is swimkids margin of safety : Fixed costs are $86,800. Swimkids expects sales of $284,400 next year. What is Swimkids's margin of safety (in dollars)
Compute the price quimby paid : the bonds will mature in six years. Using the PV function in Excel, compute the price Quimby paid (the present value) on the bond investment
Compute the price desmond paid : Desmond Corp. purchased 10, $1,000, Using the PV function in Excel, compute the price Desmond paid (the present value) on the bond investment
What is the ending inventory : Beginning inventory was $3,000, purchases totaled $20,000 and sales were $17,000. What is the ending inventory
Record the elimination and adjustment entries : On Jan 1, 2014, the Sub issues $400,000 7.5% 8 year bonds at 92% interest payable annually on Dec 31. Record the Elimination and Adjustment Entries
Statement about company organizational culture : Identify a true statement about a company's organizational culture. In the context of the value chain of an organization, _____ is a support activity.
Compute standard mileage rate : Compute standard mileage rate on a 2106 and use 2106 instructions page 3. Assume $1,775 is the amount for lines 35 and 36 on form 2106
Compute the price haygood paid : The bonds will mature in four years. Using the PV function in Excel, compute the price Haygood paid (the present value) on the bond investment
Think covenant marriages will have on divorce rates : Using your sociological imagination, along with concepts we’ve discussed to date, what kind of impact do you think covenant marriages will have on divorce rates

Reviews

Write a Review

Accounting Basics Questions & Answers

  Appropriate option pricing model

The options are exercisable between January 1, 2014, and December 31, 2016, at 81% of the quoted market price on January 1, 2011, which was $16. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $6 per ..

  Calculation of gain or loss on plan assets

Problem- The following information relates to the pension plan for the employees of Turner Co.: Turner estimates that the average remaining service life is 16 years. Turner's contribution was $378,000 in 2013 and benefits paid were $282,000

  Prepare a journal entry to record income taxes for dakota

North Dakota Corporation began operations in January 2010, and purchased a machine for $20,000. Prepare a journal entry to record income taxes for the year 2010. Show well-labeled computations.

  Dcl industries purchased a supply of mechanical components

dcl industries purchased a supply of mechanical components from e corporation on november 1 2011. in payment for the

  Why are paid-in-capital and retained earnings displayed

Why are paid-in-capital and retained earnings displayed separately in the stockholder's equity section of the balance sheet? Why would investors buy common stock when preferred stock is available?

  Information relating to the costs and billings for this

on february 1 2010 marsh contractors agreed to construct a building at a contract price of 6000000. marsh estimated

  Tabular analysis of transactions

A tabular analysis of transactions made throughout August 2010 by Witten Company during its first month of operations

  Current information for the austin company follows

Current information for the Austin Company follows

  Review of the stockholders equity section

From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions.

  Explain the procedures of apportionment of overhead

explain the procedures of apportionment of overhead expenses through departmentalization with the help of practical

  Identify a risk that may have created the problem

The West End Boutiques company was founded by Libbie Williams in 1990 with a single store in College Station, Texas, and the company now has 21 shops.

  Horton foods bakes and sells 1000 dozen bagels each week to

horton foods bakes and sells 1000 dozen bagels each week to food service operations. among the costs are bakers

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