What the value of the total proceeds from the sale

Assignment Help Financial Accounting
Reference no: EM132934883

Question - A $2,000,000 face value bond with coupon interest of 10% and yields 8% was purchased by Guthan Co. on July 1, 2012 for $2,133,678.80. The bond pays interest on December 31 and June 30. Determine interest income reported on Dec. 31, 2012.

Heidebrecht Design acquired $80,000 11% bonds with 15% effective rate on April 1, 2022 for $75,360 to be held as financial assets at fair value through other comprehensive income or FVTOCI. The bonds pay interest annually on April 1 and mature on April 1, 2026. If on July 1, 2023, the bonds were sold for 102 plus accrued interest, what the value of the total proceeds from the sale?

Reference no: EM132934883

Questions Cloud

What is the cost of this alternative to mmb : It would be offering the shareholders of LLM0.5 share of MMB for each share of LLM. What is the cost of this alternative to MMB
What effective rate of return : An RRSP is worth $223,000 after contributions of $2500 at the beginning of every six months for 16 years. What effective rate of return
Review the bounce fitness corporate marketing plan : Determine and access available resources to undertake project and Finalise project plan and gain necessary approvals to commence project according to documented
How much is the annual amortization of the patent : Netflix paid its lawyers, accountant, and consultant P300,000, P200,000, and P100,000, respectively. How much is the annual amortization of the patent
What the value of the total proceeds from the sale : If on July 1, 2023, the bonds were sold for 102 plus accrued interest, what the value of the total proceeds from the sale
How much is the total amortization expense : On July 1, 2021, Clique Company purchased copyright for P800,000, How much is the total amortization expense for 2021
How much shall sarah recognize as investment property : The property was acquired at cash price of P3,000,000. How much shall Sarah recognize as Investment Property
Prepare the journal entries for each of the years : Prepare the journal entries for each of the years 2017 to 2021 to record income tax expense and the effects of the tax loss carrybacks
What is the Statement of Comprehensive Income : Using the information given below, what is the Statement of Comprehensive Income for the year ended December 31, 2020

Reviews

Write a Review

Financial Accounting Questions & Answers

  Solve the amount of money justin had to deposit

Solve the amount of money Justin had to deposit in an investment fund growing at an interest rate of 2.50% compounded annually

  The inter company sale of inventory

On January 1, 2016, Parent Company acquired 80% of the common stock of Subsidiary Company. ?Prepare the worksheet eliminations that would be made on the 2016 consolidated worksheet as a result of: the inter company sale of inventory. the intercompany..

  Journalize the transactions for professional products inc

Journalize the transactions for Professional Products Inc.Professional Products Inc., a wholesaler of office products, was organized on February 5

  Journalize the related transactions

Journalize the related transactions. Sold merchandise on account to Donner Co., $9,800, terms 2/10, n/30. The cost of the merchandise sold was $5,800.

  What initial salary would Ben need to receive

What initial salary would Ben need to receive to make him indifferent between attending Wilton University and staying in his current position

  What is the intrinsic value of the put

An American-style put option with six months to maturity has a strike price of $40. The underlying stock now sells for $36. What is the intrinsic value

  What is net present value of the products

$200000, and the third year cash flow to be $100000. The expected return of 5% is used as the discount rate. What is net present value (NPV)?

  What is tax effect adjustment to recognise impact of tax

The company rate of income tax was decreased from 25% to 20%. What is the tax effect adjustment to recognise the impact of the tax rate change?

  Campbell one-half time to the business

Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $150,000 of net income under each of the following assumptions:

  Create an excel chart for each growth rate in sales

determine the 'sensitivity' of the model by adjusting the values of growth rate in sales and cost of goods sold/net sales. Create an Excel chart for each growth

  What total amount will be paid to the preferred shareholders

Legacy issues $700,000 of 7.5%, four-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. They are issued at $643,419 and their market rate is 10% at the issue date. 1.Prepare the January 1, 2013, journal ent..

  What is the cost of the ending inventory

The year-end inventory showed $121,000 worth of merchandise available at retail prices. What is the cost of the ending inventory?

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