What is the journal entry recorded for the issuance of bond

Assignment Help Financial Accounting
Reference no: EM132742126

On January 1, Staple Company issued bonds with a face value of $200,000 and a 5 percent annual stated interest rate. 4% was the effective annual interest rate. Interest is paid out twice annually on June 30 and December 31. The bonds have a maturity of five years.

Problem 1: What is the journal entry recorded for the issuance of the bond by Staple Company on January 1st?

Problem 2: What is the journal entry recorded on June 30th for the first interest payment?

Reference no: EM132742126

Questions Cloud

Calculate the actual direct labor rate paid per hour : Four Seasons Industries has established direct labor performance standards for its maintenance and repair shop. However, some of the labor records were.
Maximise opportunities for innovation in business : Explain how you are building your team to maximise opportunities for innovation in your business
What price is the investor willing to buy the pt cipamingkis : If the investor asks for a 12% yield, at what price is the investor willing to buy the PT Cipamingkis bond and what is the effective annual yield of the bond.
Compute Bridgeports postretirement expense : Bridgeport Corporation has the following information available concerning its postretirement benefit plan for 2020. Compute Bridgeports postretirement expense
What is the journal entry recorded for the issuance of bond : On January 1, Staple Company issued bonds with a face value. What is the journal entry recorded for the issuance of the bond by Staple Company on January 1st?
How many units would be the safety stock : A hospital orders surgical supplies using a fixed order interval system. Suppose that just prior to ordering, a check of rolls of gauze bandages show
Evaluate the performance of team : To execute a complex accounting project for a retail giant, an accountancy firm created a five-member team. The team members were all highly experienced
Prepare correct consolidated income statements for years : The Year 6 gain on sale of assets resulted from the January 1 sale of a building, Prepare correct consolidated income statements for Years 5 and 6
What is the time between orders : Joe henry 's machine shop uses 2500 brackets during the course of a year. Theses brackets are purchased from a supplier 90 miles away. The following information

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd