What amount should gore report as interest expense

Assignment Help Accounting Basics

Reference no: EM13656396

On January 1, 2014, Gore Co. sold to Cey Corp. $800,000 of its 10% bonds for $708,236 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, 2014?

Reference no: EM13656396

Questions Cloud

What electric field does the electron experience : Consider an electron in a hydrogen atom, which is 0.050 nm from the proton in nucleus. What electric field does the electron experience?

How much income must he report for tax purposes : The sole shareholder of Silver, has a basis of $200,000 in his stock. If Silver distributes $900,000 to Sam on December 31, how much income must he report for tax purposes?

Explain to me the concept of debits and credits : Explain to me the concept of debits and credits. I would only need a brief explanation on how they affect accounts.

What is the smallest value of coefficient of friction : A sign has a mass of 1050 kg, a height h = 1 m and a width W = 4 m. It is held by a light rod of length 5 m that is perpendicular to a rough wall. A guy wire at 23° to the horizontal holds the sign to the wall.

What amount should gore report as interest expense : On January 1, 2014, Gore Co. sold to Cey Corp. $800,000 of its 10% bonds for $708,236 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, ..

Statement of retained earnings : Statement of Retained Earnings

An rlc circuit consists problem : An RLC circuit consists of a 511 ? resistor, a 52 µF capacitor, and a 649 mH inductor, connected in series with a 123 V, 92.5 Hz power supply.What is the phase angle between the current and the applied voltage?

Find the maximum average flux through each turn of the coil : A coil has 400 turns and self-inductance 3.5 mH. The current in the coil varies with time according to i=(680mA)cos[(πt)/(0.025s)], Find the maximum average flux through each turn of the coil

Estimate the half-life of the nuclei : The number of radioactive nuclei present at the start of an experiment is 4.10 10^15. Estimate the half-life of the nuclei

User Account

All Pages