User Account

All Pages

What amount of the bond discount should be amortized

Assignment Help Financial Accounting
Reference no: EM132881027

On July 1, 2016, Tarra Company issued 4,000 of 8%, P1,000 face value bonds payable for P3,504,000. The bonds were issued to yield 10%. The bonds are dated July 1, 2016 and mature on July 1, 2026. Interest is payable semiannually on January 1 and July 1.

Problem 1. Using the effective interest method, what amount of the bond discount should be amortized for the six months ended December 31, 2016?

a. 30,400
b. 24,800
c. 19,840
d. 15,200

Reference no: EM132881027

Questions Cloud

Different job descriptions for volunteers : Create 5 different job descriptions for volunteers who work in Animal Shelter. EACH Job Description should include the following information:
What amount should be reported as bond interest : For the year ended December 31, 2016, what amount should be reported as bond interest? Carrow Company issued 10% bonds in the face amount
Explain multiplicity of unions : -XYZ Ltd is a manufacturing company that has 5 factories all over the country, with over 300 blue-collar employees. Currently, XYZ gives four months of paid mat
What be the service would be applied to a major airline : What be the service would be applied to a major airline service
What amount of the bond discount should be amortized : Using the effective interest method, what amount of the bond discount should be amortized for the six months ended December 31, 2016?
Define the modern view of conflict : Define the modern view of conflict. What are some common sources of conflict in the workplace?
What could blueridge international have done to implement : Based on the information, what could Blueridge International have done to implement the 360-degree feedback system more successfully?
What amount should maria recognize as a depreciation expense : Maria Mining Co., For the year ended December 31, year 1, what amount should Maria recognize as a depreciation expense on lease asset?
Designing business ethics philosophy : Please include your expressions of how you felt designing your business ethics philosophy, e.g. good, confident, mature, accountability at another level, person

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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