User Account

All Pages

What amount should oak report as bonds payable

Assignment Help Financial Accounting
Reference no: EM132794612

Problem 1: On January 1, Year 2, Oak Co. issued 400 of its 8%, $1,000 bonds at 97 plus accrued interest. The bonds are dated October 1, Year 1, and mature on October 1, Year 11. Interest is payable semiannually on April 1 and October 1. Accrued interest for the period October 1, Year 1, to January 1, Year 2, amounted to $8,000. On January 1, Year 2, what amount should Oak report as bonds payable, net of discount?

A. $380,300

B. $388,000

C. $388,300

D. $392,000

Reference no: EM132794612

Questions Cloud

What is the new depreciation : The amount of depreciation to be provided for the year to 30 June 2020 is £250 for machinery, £1,000 for motor vehicles. What is the new depreciation
Why is outliers included in regression analysis : What is the importance of regression analysis to business nowadays? Why regression analysis is considered the best method in cost segregation?
Describe business-level strategy-corporate-level strategy : What are the differences and relationships between a business-level strategy and a corporate-level strategy? What are some examples of these differences and rel
Compute tina regular, overtime, gross, and net pay : Tina is married and claims 5 withholding allowances on her W-4 form. Compute Tina's regular, overtime, gross, and net pay
What amount should oak report as bonds payable : What amount should Oak report as bonds payable, net of discount? On January 1, Year 2, Oak Co. issued 400 of its 8%, $1,000 bonds at 97 plus accrued
Which entry the company uses to record the original issue : A company issues bonds at 98, with a maturity value of $50,000. The entry the company uses to record the original issue should include which of the following?
What is the total stockholders equity : What is the total stockholders' equity based on the following account balances? Paid-In Capital in Excess of Par 58000
Understanding of international and cooperative strategy : Please explain your understanding of International and Cooperative Strategy by answering the following question:
What amount of cash will lean accumulate in two years : What amount of cash will Lean accumulate in 2 years? On January 1 of the current year, Lean Co. made an investment of $10,000.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What will be the cost of the newly issued preferred shares

The investment bankers have advised Seven Eleven that flotation costs will be 8% per share. What will be the cost of the newly issued preferred shares?

  Determine the materials price and quantity variance

North Wind manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $1.50 per pound. During September 8,000 pounds of raw materials costing $1.55 per pound were used in making 3,600 weather vanes. De..

  Explaining the proper accounting for the sale

As you learned in this week's reading, account receivables record bad debts or other promises to pay by debtors (Porter & Norton). To understand the accounting for the sale of investments and the generation of notes receivable,

  What is total dollar return on investment

You received dividend payments equal to $4.0 a share. Today, you sold all of your shares for $47.0 a share. What is your total dollar return on this investment?

  Create a time phased budget for the project

Using the data for problem 09.02, create a time phased budget for the project. Show how much the daily and cumulative costs for the project are just as the monthly and cumulative costs are shown in exhibit 9.9.

  Calculate haslam profit margin ratio

Suppose half of its liabilities are in the form of debt. Calculate the debt-to-assets ratio. Do not round intermediate calculations. Round answer to two decimal

  Has altered perspective on day-to-day life

What will be the one thing you tell your grandchildren or future generations in 30+ years?What are some of the unique strategic challenges

  Are employees considered assets in the financial statements

Are employees considered assets in the financial statements? Why or why not? Discuss in what sense Southwest considers its employees to be assets.

  How is the transaction price to be measured by the entity

How is the transaction price to be measured by the entity when receiving non-cash consideration from a customer consistent with AASB 15

  Find how much does need to have in retirement account

Find How much does she need to have in her retirement account by retirement date if the interest rate is 6% per year during the post-retirement years?

  Should the company decrease the sales commission and why

If the company's profit increases 100% next year due to a 35% increase in sales, would performance be better or worse than expected?

  Find what is the expected return on xyz stock

XYZ stock currently selling for $89.78. The firm plans to increase the dividend by 4.7 percent per year indefinitely. What is the expected return on XYZ stock?

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