Record the redemption of the bonds

Assignment Help Accounting Basics
Reference no: EM131632892

Problem - Electric sold $4,660,000, 13%, 10-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and paid interest on January 1. The bonds were sold at 98.

On January 1, 2019, when the carrying value of the bonds was $4,582,800, the company redeemed the bonds at 103. Record the redemption of the bonds assuming that interest for the period has already been paid.

Reference no: EM131632892

Questions Cloud

Write a summary of shinto practices : Write 350 to 700-word summary of Shinto practices that still exist today (Shinto religion based on beliefs of openness use of nature and deliberate simplicity).
Find an existing dataset and make up an extra variable email : Find and existing data set and email the lecturer the dataset the lecturer will email you a sample of the data set, use the sample
Forgiveness of sin activities exclusively reserved for god : Where in the Old Testament theology are creation and forgiveness of sin activities exclusively reserved for God
Calculate the intrinsic value of the call option : A stock is currently selling for $75 per share. You could purchase a call with a strike price of $70 for $7. You could purchase a put with a strike price.
Record the redemption of the bonds : Record the redemption of the bonds assuming that interest for the period has already been paid
Creative intelligence formulates ideas and makes connections : Analytical intelligence breaks a problem down into it's component parts,solves problems and evaluates the quality of ideas
What is the risk exposure of the insurance company : An insurance company owns $50 million of floating-rate bonds yielding LIBOR plus 1 percent. These loans are financed with $50 million of fixed-rate guaranteed.
Discuss compatibility of the new system with current systems : Discuss compatibility of the new system with current systems. Explore various decision-making support models. Evaluate the advantages and limitations of data.
Discuss type of interest rate risk each institution faces : A commercial bank has $200 million of floating-rate loans yielding the T-bill rate plus 2 percent. These loans are financed with $200 million of fixed-rate.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Regina harrison is a partner in pressed for time an

regina harrison is a partner in pressed for time. an analysis of regina harrisons capital account indicates that during

  Alomar co a consolidated enterprise conducted an impairment

alomar co. a consolidated enterprise conducted an impairment review for each of its reporting units. in its qualitative

  A car dealer acquires a used car for 14000terms fob

a car dealer acquires a used car for 14000terms fob shipping point. additional costs in obtaining andoffering the car

  By how much will bkfcoms monthly profits change if they

in this make or buy problem you should compute the total cost of making a particular part and the total costs of buying

  Determine how the assets will be distributed

Assuming that the actual liquidation expenses are $20,000 and that noncash assets are sold for $160,000, determine how the assets will be distributed. Flowers has net personal assets of $10,000.

  On january 1 2010 jose company purchased a building for

on january 1 2010 jose company purchased a building for 200000 and a delivery truck for 20000. the following

  Evaluate use of activity based techniques by organisations

Discuss the suggestion that ‘corporate governance frameworks and their effectiveness are influenced by the environment in which they exist - Explain the need for, and what is meant by, a conceptual framework.

  Calculate cost per unit and total gross profit

Prepare a Job Cost Sheet for Job No.13A,following properformat. Pass the necessary Journal entries and prepare T account ofWork-In-Process.

  Calculate the net-profit margin for each of these years

Attached is a comparative income statement for Cecil, Inc. for the years 2010, 2011, and 2012. Calculate the net-profit margin for each of these years

  Wholesale health supply sells a variety of medical

wholesale health supply sells a variety of medical equipment and supplies to retailers. when a new retailer is

  Method of amortising discounts and premiums

The firm uses the effective interest method of amortising discounts and premiums. The bonds were sold to yield an effective interest rate of 10%.

  In may overhead was over applied by 300 the company adjusts

uxmaiz corporation had only one job in process during may-job x32z- and had no finished goods inventory on may 1. job

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