Recording bond issue and interest payment

Assignment Help Accounting Basics
Reference no: EM13259233

The kurten corporation is authorized to issue $500000 0f 8% bonds interest on the bond payable semiannually ;the bond are dated january 1,2010 and are due december 31,2015

Required

Prepare the journal entry to record the following:

April 1,2010 sold the bond par plus accrued interest

June 30,2010 first interest payment

Dec 31,2010 second interest payment

Reference no: EM13259233

Questions Cloud

What frequencies would expect to see on spectrum analyzer : A bandpass filter with a center frequency of 6kHz, a 3dB banwidth of 1 kHz, and a 50 dB bandwidth of 2kHz is connected to a signal generator that outputs a one volt square wave at a frequency of 2kHz. A spectrum analyzer is connected to the filter..
Depreciation deducted in the income statement : Depreciation deducted in the income statement is added back to net income in the statement of cash flows to determine cash flow.
Calculate the number of units the equipment was used : Calculate the number of units the equipment was used to produce in 2005.
Discuss the pros and cons of such a drastic price increase : Is this a smart move by Netflix? Discuss the pros and cons of such a drastic price increase.
Recording bond issue and interest payment : The kurten corporation is authorized to issue $500000 0f 8% bonds interest on the bond payable semiannually ;the bond are dated january 1,2010 and are due december 31,2015
Why and how did the issue become a social issue : Who are the stakeholders and how does the issue impact each, and what are the desired outcomes for each stakeholder group
How much will mikes baloon payment be in eight years : However, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. THere were no other transaction costs or finance charges. How much will Mike's baloon payment be in eight years?
Straight-line method to depreciate the equipment : Calculate the loss recorded on the sale assuming ABC Company was using the straight-line method to depreciate the equipment.
How many years required to invest money to supplement plan : Assume Starla wants to accumulate $100,000by her retirement date. Will she achieve her goal if she invests $44,000 today and earns 7%?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which method is more useful for internal decision making

What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?

  Computing and interpreting return on investment

Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. Which divisional manager seems to be doing the better job? Why?

  Computing eps-dividend per share and book value

What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?

  Make the journal entry

Brennan Steel Corporation as lessee signed a lease agreement for equipment for five years, starting December 31, 2007. yearly rental payments of $32,000 are to be made at the beginning of each lease year.

  Are stockholders better off

if a company declares a 2 for 1 stock split when its stock was trading for $40 just prior to the announcement and it has 2 million shares outstanding, what will the theoretical market price of the stock be just after the stock split? Are stockhold..

  Underlying theme of the conceptual framework

Decision usefulness is an underlying theme of the conceptual framework, true or false? Users of financial statements are assumed to have substantial knowledge of business and financial accounting matters by financial statement preparers, true or fa..

  What effect did the expansion on sales

Show what effect did the expansion have on sales, net operating working capital, capital, net operating profit, and net income?

  Problem related to corporate shares

what happens when a shareholder in a subchapter S corporation has losses and deductions allocated to him in excess of his basis in his corporate shares?

  Computing bell income -equity method is applied

Assume the equity method is applied. Compute Bell's income from Demers for the year ended December 31, 2008.

  Pretax accounting income and taxable income

Sherrod, Inc., reported pretax accounting income of $92 million for 2011. The following information relates to differences between pretax accounting income and taxable income:

  Activity-based costing approach

Using the activity-based costing approach, determine the overhead cost per unit for each product.  Prepare a Schedule of Expected Cash Collections for November and December.    Prepare a Merchandise Purchases Budget for November and December.

  Would the receipts be considered dpgr

An engineering and heavy contruction contractor repairs and renovates streets, airport runways bridges and other real property that have fallen into disrepair. If the contractor does not build an entire building, is DPAD available? Would the recei..

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