User Account

All Pages

Record the payment of interest on january

Assignment Help Accounting Basics
Reference no: EM133107843

Question - On July 31, 2021, Pharoah Inc. issued $530,000 of 5-year, 4% bonds at 101. Interest is payable semi-annually on July 31 and January 31. Pharoah's fiscal year end is January 31.

Required -

Is the market rate of interest higher or lower than 4%?

Record the issue of the bonds on July 31, 2021.

Record the payment of interest on January 31, 2022, assuming the semi-annual amortization amount for this interest period is $978.

Reference no: EM133107843

Questions Cloud

Performance and management of labour : Discuss how gender equality is relevant to the performance and management of labour. (300 words)
How can you deal with the difficulties of abstinence : 1. How can you deal with the difficulties of abstinence, including the possibility of relapse?
Black death emphasis on the afterlife : What shaped Western culture in the period 1300-1550 more: the Black Death's emphasis on the afterlife (the hereafter) or the Renaissance's emphasis on human ach
GEEN 1125 Finite Element Applications Assignment : GEEN 1125 Finite Element Applications Assignment Help and Solution, University of Greenwich - Assessment Writing Service
Record the payment of interest on january : Record the payment of interest on January 31, 2022, assuming the semi-annual amortization amount for this interest period is $978
Review of the scandinavian approach : If you are a reviewer of the journal, please give three opinions in positive or negative sense for this article July 2000
Explain the success of the training program : 2. Explain the success of the training program using conditioning theory and social cognitive theory. How do these theories explain why the training program was
What will profits be : You estimate that your cattle farm will generate $1 million of profits on sales of $5.8 million. What will profits be if sales turn out to be $5.1 million
Explain the learning organisation model : Explain the 'learning organisation' model, its under-pinning philosophical justification, benefits, typical features (such as a self-managed learning culture, a

Reviews

Write a Review

Accounting Basics Questions & Answers

  What might be the results and consequences of statements

What might be the results and consequences of fraudulent accounting statements, breaking the law, and lack of integrity by top management?

  Provide recommendations to improve controls over cash sales

Provide four recommendations to improve controls over cash sales. The audit work papers contain the following narrative description of the cash sales

  What is the cash payback period for each site

What is the cash payback period for each site (rounded to two decimal places)? What is the net present value (NPV) of each site

  Compute the net income

Prepare the journal entries in the books of the franchisor for 2020; Compute for the net income in 2020

  Find the value of the quarterly payment

Question - Millenium Fitness borrowed $189 000 to purchase equipment for their gym. Find the value of the quarterly payment

  Sr disclosed the effect of lifo liquidations net of income

the following table contains data obtained from annual reports of sr a shoe manufacturer and retailer years ended

  Consider the following statement to maximise profit you

consider the following statement to maximise profit you need to sell your output at the highest price. analyse the

  Prepare an accounting software proposal

The company has asked you to prepare an accounting software proposal. Don't worry about the hardware components.

  Calculate the taxable profit and accounting profit

Amount provided in 2019 for employees' long-service leave entitlements 5000. Calculate the taxable profit and accounting profit for the year ending 30 June 2019

  Determine tonya adjusted gross income

Tonya had the following items for last year: Determine Tonya's adjusted gross income for the current year?

  Prepare the entry to record the redemption of the bonds

Prater Corporation issued $400,000 of 10-year bonds at a discount. Prepare the entry to record the redemption of the bonds

  Define an amendment to the partnership agreement

A limited partnership was formed consisting of Arnold as general partner and Johnson and Howard as the limited partners. The limited partnership was organized.

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