The fiscal year ends december 31 for lake hamilton

Reference no: EM13589770

The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD issued 9% bonds with a face amount of $550,000 on November 1, 2013. The bonds sold for $502,815, a price to yield the market rate of 10%. The bonds mature October 31, 2033 (20 years). Interest is paid semiannually on April 30 and October 31.

1. What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December 31, 2013?

2. What amount(s) related to the bonds will LHD report in its balance sheet at December 31, 2013?

3. What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December 31, 2014?

4.What amount(s) related to the bonds will LHD report in its balance sheet at December 31, 2014?

Reference no: EM13589770

Questions Cloud

To be successful a company must anticipate its cash flows : to be successful a company must anticipate its cash flows. what evidence would help you evaluate whether or not a

What does it mean to describe a basis as infeasible but : 1a a company is manufacturing a product which requires at the final assembly stage three parts. these three parts can

The following costs result from the production and sale of : the following costs result from the production and sale of 4500 drum sets manufactured by tom thompson company for the

Upon studying its statement of cash flows you note that : upon studying its statement of cash flows you note that over the last three years a firm has consistently reported

The fiscal year ends december 31 for lake hamilton : the fiscal year ends december 31 for lake hamilton development. to provide funding for its moonlight bay project lhd

A hydrogen atom with an electron in its ground state : question a hydrogen atom with an electron in its ground state interacts with a photon of light with a wavelength of

On december 31 there were 111 units remaining in ending : a company had the following purchases during the current yearjanuarynbspnbsp44 units at 130nbspnbspfebruarynbspnbsp54

Please list and describe the four criteria for a lease to : list and describe the four criteria for a lease to be considered a capital lease. how many of the criteria does a lease

The board of directors declared a 2 per share cash divided : the board of directors declared a 2 per share cash divided on common stock and the corporation had 5000 share

User Account

All Pages