Prepare the journal entry to record the issuance of the bond

Assignment Help Accounting Basics
Reference no: EM13871643

On January 1 (the authorization date) of the current year, GoldenEye Company issues $500,000 of 9% bonds at 103. These bonds pay interest on June 30 and December 31. 

Prepare the journal entry to record the issuance of the bonds. 

Reference no: EM13871643

Questions Cloud

Biovail is suing hedge fund sac capital and independent : Biovail is suing hedge fund SAC Capital and independent research firm Gradient Analytics for manipulating its stock price downward. Is this suit justified? What is the role of short sellers in the economy? In real-world markets, there are many impedi..
Calculate returns in pounds on typical brazilian investment : Calculate expected or required returns in pounds on a typical Brazilian investment based on each of the following models.
Determine areas in which the company is doing well : Use ratio analysis, common size analysis, or other techniques to determine areas in which the company is doing well as well as areas that management should look at. Then, present your analysis and recommendations in the form of a paper.
Write a program to find value of sin : Write a program to find value of sin(x) using expansion series given below by using a function.
Prepare the journal entry to record the issuance of the bond : On January 1 (the authorization date) of the current year,
What is npv of investment using governments borrowing cost : What is the NPV of this investment using the government's borrowing cost of 5 percent? What is the NPV of this investment using a risk-adjusted return of 10 percent?
Goldeneye company issues its bond : Use the same information in RE14-1, except assume that GoldenEye Company issues its bonds on March 1 at par, plus accrued interest.
What would be the best method of data collection : Which method of data collection do you think is most effective for psychological research and In particular, what would be the best method of data collection for studying how texting affects sleep?
Prepare journal entries for an account receivable : Prepare journal entries for each of the following. The appropriate bad debt adjustment was recorded. Later, an account receivable for $ 1,000 was determined to be uncollectible and was written off.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Determine the amount of each payment

You purchased an XIT auto for $18,000 by making a $3,000 cash payment and six semi annual installment payments for the balance at 12 percent interest. Determine the amount of each payment.

  Zidek corp requires an estimate of the cost of goods lost

zidek corp. requires an estimate of the cost of goods lost by fire on march 9. merchandise on hand on january 1 was

  Discussing finance details of foreign project

A foreign project that is profitable when valued on its own will always be profitable from the parent firm's standpoint. True or false? Explain.

  Financial statement fraud

From the e-Activity, describe the fraud that had occurred, and suggest the primary way in which the parties involved could have prevented the fraud in question.

  The current assets and current liabilities sections

The current assets and current liabilities sections

  Examples of a traditional format income statement

Include 1 data slide and examples of a traditional format income statement and the equivalent contribution format, based on that data. Use charts when appropriate to make it visually interesting.

  The steps in the accounting cycle are listed in random

the steps in the accounting cycle are listed in random order. fill in the blank next to each step to indicate its order

  The diamond freight company has been offered a seven-year

the diamond freight company has been offered a seven-year contract to haul munitions for the government. because this

  Adjusting the books using adjusting entries

Huntington Company's annual accounting year ends on December 31. It is December 31, 2011, and all of the 2011 entries except the following adjusting entries have been made:

  Journalize the write-offs

Isner Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2010: Journalize the write-offs for 2010 under the direct write-off method.

  Jessica has experienced collections 40 during the month of

jessica company has forecast its sales as follows august 180000 actual september 280000 actual october

  Purchasing at face value

On January 1, 2010, Milton Company purchased at face value, a $1,000, 6% bond that pays interest on January 1 and July 1. Milton Company has a calendar year end.

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