What the entry to record the redemption will include a

Assignment Help Accounting Basics
Reference no: EM132568572

Question 1: Crane Company retires its $560000 face value bonds at 105 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $580972. The entry to record the redemption will include a

Option a) debit of $20972 to Premium on Bonds Payable.

Option b) credit of $20972 to Loss on Bond Redemption.

Option c) debit of $28000 to Premium on Bonds Payable.

Option d) credit of $7028 to Gain on Bond Redemption.

Reference no: EM132568572

Questions Cloud

Describe the concept of data analysis : As outlined within this weeks topic, there are several benefits as well as challenges associated with the use of Big Data Analytics in the e-Healthcare industry
What biblical principles regarding teaching and learning : Considering the definition on learning, How did Jesus promote learning via thinking and use teachable moments?
Compute the dollar amount of the total depreciation : Compute the dollar amount of the total depreciation that will be contained in Cost of Goods Sold. (Round dollar values & enter as whole dollars only.)
Describe the geography of the country : Country is Venezuela 1. Culture Introduce your country and its culture
What the entry to record the redemption will include a : Crane Company, The carrying value of the bonds at the redemption date is $580972. What The entry to record the redemption will include a?
Conducting research on racial health disparities : Could conducting research on racial health disparities widen the health disparities gap (that is, worsen health disparities)?
Discuss the real-time velocity of manufacturing data : Data analytics in massive manufacturing data can extract huge business values while it can also result in research challenges due to the heterogeneous.
What the table value is found at : An amount is deposited for seven years at 8%. If compounding occurs quarterly, then the table value is found at? 2% for seven periods.
Organization time and money toward achieving : Efficiently allocate the organization's time and money toward achieving the most appropriate and best employed overall security policies

Reviews

Write a Review

Accounting Basics Questions & Answers

  Minden company manufactures a high-quality wooden birdhouse

minden company manufactures a high-quality wooden birdhouse that sells for 20 per unit. variable costs are 6 per unit

  Basic transaction processing

On November 1 of the current year, Richard Simmons established a sole proprietorship. The following transactions occurred during the month:

  Explain what the revenue recognition principle

Explain what the revenue recognition principle is and explain what the matching principle is.

  What will be the dollar balances in the accounts receivable

The current unadjusted Allowance for Uncollectable Accounts balance is a debit balance of $3,500, what will be the dollar balances in the Accounts Receivable

  Formulate the labor efficiency variance

Labor Variances Verde Company produces wheels for bicycles. During the year, 660,000 wheels were produced. The actual labor used was 360,000 hours at $9.50 per.

  Prepare an amortization table for an instalment note payable

Prepare an Amortization Table for an Instalment Notes Payable. Preparing an Amortization Table for a (Discounted) Term Loan with Stated Interest Rate

  What is each partner outside basis and how much gain

What is each partner's outside basis and how much gain (loss) must the partners recognize in 2009 when Picture Perfect was formed

  Classify each of the costs as a direct cost

Classify each of the costs as a direct cost or an indirect cost to the motor manufacturing cell.

  Prepare the stockholders equity section of the balance sheet

The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.:

  Gold corporation a calendar year c corporation was formed

gold corporation a calendar year c corporation was formed in 2005 and has been profitable untill the current year. in

  Detailing the issues surrounding corporate

In 4000 words, write a paper detailing the issues surrounding corporate fraud in India. You have creative freedom in this paper to choose the type of frauds you would like to discuss, their impacts and possible remedies.

  Motorcade company has three service departments s1 s2 and

motorcade company has three service departments s1 s2 and s3 and two production departments p1 and p2. the following

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