Paid semiannual interest on pitts company bonds

Assignment Help Operation Management
Reference no: EM13941955

Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds of Pitts Co.:

March 1: Issued $2,000,000 face value Pitts Co. seconds mortgage, 8% bonds for $2,180,400, including accrued interest. Interest is payable semiannually on Dec. 1 and June 1 with the bonds maturing 10 years from this past Dec. 1. The bonds are callable at 102.

June 1: Paid semiannual interest on Pitts Co. bonds. (Using straight-line amortization of any premium or discounts)

December 1: Paid semiannual interest on Pitts Co. bonds and purchased $1,000,000 face value bonds at the call price in accordance with the provisions of the bond indenture. 

Reference no: EM13941955

Was the electric companys action to disconnect power right

A 93 year old man froze to death in his home after the municipal power company restricted his electricity because of an unpaid bill. He died of hypothermia — the medical exami

Probability that an incoming call is not processed

What is the probability that an incoming call is not processed by Fabulous 4, suppose that Fabulous 4 receives $1 for each customer that it processes. What is Fabulous 4's dai

Satisfy predicted demand under these conditions

A company manufactures a product using machine cells. Each cell has a design capacity of 250 units per day and an effective capacity of 230 units per day. Annual demand is cur

What are the factors affecting the intensity of rivalry

What are the factors affecting the intensity of rivalry in the industry in which your company is competing? Use figure 3.4 and the accompanying discussion to help you in pinpo

Small property insurance company concentrated

A small property insurance company concentrated its underwriting efforts in one city in Oklahoma. When tornadoes damaged a large number of structures in the city, the insurer

How facility layout affect numerical analysis

Peter's Paper Clips uses a three-stage production process: cutting wire to prescribed lengths, inner bending, and outer bending. The cutting process can produce at a rate of 1

Firm has decided that optimal capital structure

A firm has decided that its optimal capital structure is 100% equity financed. It perceives its optimal dividend policy to be a 60% payout ratio. Asset turnover is sales/asset

What is the most that should be paid for this forecast

A market research firm will analyze market conditions and will provide a perfect forecast (they provide a money back guarantee). What is the most that should be paid for thi


Write a Review

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