What amount should york report as investment in bonds

Assignment Help Financial Accounting
Reference no: EM131106435

On July 1, 2010, York Co. purchased as a held-to-maturity investment $1,000,000 of Park, Inc.'s 8% bonds for $946,000, including accrued interest of $40,000.

The bonds were purchased to yield 10% interest. The bonds mature on January 1, 2017, and pay interest annually on January 1. York uses the effective interest method of amortization. In its December 31, 2010 balance sheet, what amount should York report as investment in bonds?

Reference no: EM131106435

Questions Cloud

Describe the accounting entry for a stock dividend : Describe the accounting entry for a stock dividend, if any. Describe the accounting entry for a stock split, if any.
Change the ordering simulation : Change the ordering simulation in Example 12.8 so that the lead time can be 1, 2, 3, or 4 weeks with probabilities 0.5, 0.2, 0.2, and 0.1, respectively.
What are your forecasts of the company''s year end balance : Given the estimated sales forecast and the estimated relationship between receivables and sales, what are your forecasts of the company's year-end balance for receivables and its year-end days sales outstanding (DSO) ratio? Assume that DSO is calcula..
How cognitive dissonance and other biases may have led : Describe the steps you would take to stimulate a better understanding of the store's current operations and to implement a new process for making decisions about product line and sales and service techniques. Identify specific ways you plan to enh..
What amount should york report as investment in bonds : York uses the effective interest method of amortization. In its December 31, 2010 balance sheet, what amount should York report as investment in bonds?
Proportional to the amount of demand : The first (R,Q) model in this section assumes that the total shortage cost is proportional to the amount of demand that cannot be met from on-hand inventory.
Context related to financial accounting : Or wealthy outside investors may acquire enough shares to gain this same level of power. Such owners have genuine authority within the corporation. How is this context related to financial accounting?
Dividends are sometimes said to have been paid : Dividends are sometimes said to have been paid “out of retained earnings.” What is the error, if any, in that statement?
What amount of unamortized premium on bond : What amount of unamortized premium on bond should Webb report in its June 30, 2011 balance sheet?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Effect of the unit price factor on the change in sales

If sales totaled $200,000 for the current year (10,000 units at $20 each) and planned sales totaled $150,000 (12,500 units at $12 each), the effect of the unit price factor on the change in sales is a:

  Within the relevant range

Within the relevant range: variable cost per unit decreases as production decreases. fixed cost per unit increases as production decreases. variable cost per unit increases as production decreases. fixed cost per unit decreases as production decrease..

  How does rule of law specifically apply given specific facts

How does the rule of law specifically apply given the specific facts of the case at issue? In other words, given the rule of law that should apply, which party wins according to that rule given the facts of the case being heard?

  Dalton playground equipment

At Dalton Playground Equipment, the powder-coating process is a bottleneck. Typically, it takes approximately two hours to switch between jobs.

  Produces a single product had a net operating income

A company that produces a single product had a net operating income of $75,000 using variable costing and a net operating income of $95,000 using absorption costing. Total fixed manufacturing overhead was $50,000 and production was 10,000 units both ..

  Determined for the jacob company bonds

determined for the Jacob Company bonds. Interest is payable on December 1 and June 1. Bond issue costs of $30,000 were incurred. Prepare in general journal format the entry to record the issuance of the bonds.

  Determine cost recovery deduction

This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under 179, nor did he elect straight-line cost recovery. Barry sold the asset on July 17, 2012. Determine cost recovery deduction for 2012.

  Uses straight-line depreciation

Calculate the book value of a three-year-old machine that cost $360,000, has an estimated residual value of $40,000, and has an estimated useful life of four years. The company uses straight-line depreciation. (Do not round intermediate calculations...

  Periwinkle manufacturing company

Periwinkle Manufacturing Company has the following budgeted costs for 10,000 units

  Runners corporation sold land

Runners Corporation sold land for $4500 cash with no gains or loss. Make a journal entry reflecting this statement.

  Calculate the amount of rent revenue recognized in 2012

Calculate the amount of Rent Revenue recognized in 2012 and Show computation and prepare the adjusting entry on December 31, 2012 for PVP.

  Should hillsborough consolidate hco media llc

if HCO Media’s fees are insufficient to cover its 50 percent share of the costs, Hillsborough absorbs the loss. Assuming that HCO Media qualifies as a VIE, should Hillsborough consolidate HCO Media LLC?

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