User Account

All Pages

Record the issuance of the bonds

Assignment Help Accounting Basics
Reference no: EM132888793

Problem - Straight-Line Premium Amortization - On January 1, 2019, Hackman Corporation issued $1 million face value 12% bonds dated January 1, 2019, for $1,023,000. The bonds pay interest semiannually on June 30 and December 31 and are due December 31, 2023. Hackman uses the straight-line amortization method.

Required - Record the issuance of the bonds and the first two interest payments.

Reference no: EM132888793

Questions Cloud

Describe 3 different strategies an organisation : 1) Reflect on your cultural background (I am Thai Nationality) Explain how your cultural norms and common practices may have an impact on Aboriginal and/or Torr
What should tack corp report at december : Assuming no other equity transactions occurred during 2018, what should Tack Corp. report at December 31, 2018 as additional paid in capital?
Nature of operation of the said business : Ria is doing her business plan, and she thinks of a Poultry farm business. What will be the nature of operation of the said Business?
What amount should be charges to retained earnings account : Share Premium - Ordinary Share - 2,000. What amount, if any should be charges to retained earnings account upon sale of the 200 treasury shares?
Record the issuance of the bonds : Hackman Corporation issued $1 million face value 12% bonds dated January 1, 2019, for $1,023,000. Record the issuance of the bonds
What is the amount charges to retained earnings as a result : What is the amount charges to Retained Earnings as a result of this bonus issue? Cayetano Company has 15,000 ordinary shares authorised with a par value of P30.
Relevance of the problem to the current business environment : Identify the problems or trends and patterns in their area of interest. The process of identifying patterns or trends would be primarily
What is the amount of retained earnings at december : At the beginning of 2018, Escudero Company had retained earnings of P100,000. What is the amount of Retained Earnings at December 31, 2018.
Prepare journal entries to record amortization of bond issue : On January 1, 2019, Knorr Corporation issued $1,000,000 of 9%, Prepare journal entries to record Amortization of bond issue

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explain to bob how the cost should be charged

Explain to Bob how the cost should be charged to shareholder's equity accounts. Please provide specific responses for the circumstances

  What interests are shared by bankers and business owners

Sue Alejandro, president of Tobago Enterprises, applied for a $300,000 loan from First National Bank. The bank requested financial statements from Tobago.

  Which of the following accounts is a monetary item

which of the following accounts is a monetary item?

  Cash until the note matures

Max Company purchased equipment on November 1, 2010 and gave a 16-month, 12% note with a face value of $5,000. Interest will not be paid in cash until the note matures. The December 31, 2010 adjusting entry is ??

  Journal entries at the date of purhase

Soldan Corporation purchased a computer on December 31,2011, paying 30,000 down and a further payment due on December 31,2014.An interest rate of 10% is implicit in the purchase price. Soldan uses the Effective method and has December the 31 as y..

  Determine the correct inventory amount on December

Blue Spruce shipped goods costing $57,520 to Hemlock Company FOB shipping point on December 28. Determine the correct inventory amount on December

  Determine the correct balance sheet category

Determine the correct balance sheet category for each of the following accounts. Use the Assessment 2, Part 1 Template to complete this part of the assessment.

  Journalize the entries in october that pertain to petty fund

Carla Vista Company experiences the following transactions in establishing a petty cash fund. Journalize the entries in October that pertain to petty cash fund

  Explain the importance of each of interpersonal skills

Goals must be specific, measurable, achievable, realistic and time-bound. Describe a professional goal that you have set listing how it fits into the SMART

  Snake creek company has one trusted employee who as the

snake creek company has one trusted employee who as the owner said handles all of the book-keeping and paperwork for

  What problems are identified in the september report

What assumptions have been made or principles need to be considered in presenting the transactions? What problems are identified in the September report?

  Find what is amount of inventory reported on balance sheet

100 rolls of wallpaper at $14 per roll and sold 39 rolls for $42 per roll. At the end of May, what is the amount of inventory reported on its balance sheet?

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