Journal entry to record the retirement of the bonds

Assignment Help Accounting Basics
Reference no: EM13871593

On June 1, LeMond Company recalls bonds with a face value of $200,000 and a current book value of $190,000.
LeMond pays $192,000 to retire the bonds. Prepare the journal entry to record the retirement of the bonds. 

Reference no: EM13871593

Questions Cloud

Defazio violated by her conduct in representing squigman : What standards of professional responsibility, if any, has DeFazio violated by her conduct in representing Squigman? Discuss
Write paper on- sleep disorders : A sleep disorder is a medical disorder of the sleep patterns of a person or animal. It is now known to be an active physiologic state involving dynamic changes in neural and metabolic function. Sleep disorders are also considered serious enough to..
Draw decision tree that depicts grolschs investment decision : Draw a decision tree that depicts Grolsch's investment decision. Calculate the NPV of investing today as if it were a now-or-never alterna- tive.
Compliant digital speedometer : Qualification of in-house DO-254 compliant digital speedometer?
Journal entry to record the retirement of the bonds : On June 1, LeMond Company recalls bonds with a face value of $200,000 and a current book value of $190,000.
Has frasier violated any standards : Frasier is a successful criminal defense attorney. For the past six months, she has been doing televised trial commentary on a notorious murder trial involving a former football star. Has Frasier violated any standards of professional responsibilit..
What is a switching option and what is hysteresis : What is a switching option? What is hysteresis? Is hysteresis a switching option? What are assets-in-place? What are growth options? Why does the NPV decision rule have difficulty in valuing managerial flexibility?
What do you understand from curl and div : What do you understand from Curl and Div of a vector field F? Explain them with examples.  Is there any difference between Grad and Div of F? What are the applications of Grad, Div and Curl?
Calculate the value to be assigned to the bonds : Love & Co. issues bonds with a face value of $50,000 for $51,000. Each $1,000 bond carries 10 warrants, and each warrant allows the holder to acquire one share of $1 par common stock for $40 per share.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  The suppliers to ship and bill for additional quantities

Placed purchase order 960 for supplies in the amount of $ 8,000 and purchase order 961 for supplies in the amount of $ 6,000. The purchase orders allowed the suppliers to ship and bill for additional quantities, up to 5 percent of the order.

  Which tax year must sage report the income

Sally is an attorney who computes her taxable income using the cash method of accounting. Sage Corporation, owned 40% by Sally's brother, 40% by her cousin

  Wc cycling had 58000 of cash at year-end 2011 and 14000 in

w.c. cycling had 58000 of cash at year-end 2011 and 14000 in cash at year-end 2012. the firm invested in property

  Gain and net reduction in retained earnings

Pierson Corporation owned 10,000 shares of Hunter Corporation. These shares were purchased in 2007 for $90,000. On November 15, 2011, Pierson declared a property dividend of one share of Hunter for every 10 shares of Pierson held by a stockholder.

  Do the tax consequences change if marilyns assignment is

marilyn a business executive who lives and works in cleveland accepts a temporary out-of-town assignment in atlanta for

  The final paper should focus on real life real time

he final paper will be based on appendix 6c illustrative audit case keystone computers at pages 237-244 in your text.

  Develop a ropes course for outdoor enthusiasts

Plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts.

  Use the view the financial reports that describe the

in 2004 wendys international recorded a 190 million goodwill impairment loss for its baja fresh reporting unit. use the

  An open box is to be made by cutting a square from each

an open box is to be made by cutting a square from each corner of a 12cm by 12cm piece of metal and then folding up the

  Why do auditors find it necessary to use sampling what

why do auditors find it necessary to use sampling? what are the risks associated with sampling? how might these risks

  The records at the end of january 2012 for captain company

the records at the end of january 2012 for captain company showed the following for a particular kind of merchandise

  What is the time value of money

What is the time value of money (TVM)? Why is this concept important in accounting? Under what circumstances might we use TVM calculations?

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