Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Exercise 17-5 On January 1, 2013, Phantom Company acquires $312,100 of Spiderman Products, Inc., 9% bonds at a price of $296,847. The interest is payable each December 31, and the bonds mature December 31, 2015. The investment will provide Phantom Company a 11.00% yield. The bonds are classified as held-to-maturity. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to 0 decimal places, e.g. 2,500.) Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method Bond Purchased to Yield Date Cash Received Interest Revenue Bond Discount Amortization Carrying Amount of Bonds 1/1/13 $ 12/31/13 $ $ $ 12/31/14 12/31/15 Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. (Round answers to 0 decimal places, e.g. 2,500.) Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method Bond Purchased to Yield Date Cash Received Interest Revenue Bond Discount Amortization Carrying Amount of Bonds 1/1/13 $ 12/31/13 $ $ $ 12/31/14 12/31/15 * Difference due to rounding (c) Prepare the journal entry for the interest receipt of December 31, 2014, and the discount amortization under the straight-line method. (d) Prepare the journal entry for the interest receipt of December 31, 2014, and the discount amortization under the effective-interest method. (Round answers to 0 decimal places, e.g. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit (c) December 31, 2014 (d)December 31, 2014 Click if you would like to Show Work for this question: Open Show Work
Robert Brown age 21 is a full time student at Marshall college and a degree candidate for a bachelor's degree. During 201 he received the following payments. what is robert's adjusted gross income for 2010
The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would..
What is the difference between a static planning budget versus a flexible budget? What are some of the possibilities that actual results may differ from what has been budgeted at the beginning of a period?
Marshall Networks, Inc. has a total asset turnover of 2.5% and a net profit margin of 3.5%. The firm has a return on equity of 17.5%. Calculate Marshall's debt ratio.
In generating theories of accounting based upon what accountants actually do, it is assumed (often implicitly) that what is done by the majority of accountants is the most appropriate practice.
At the begining of 2009, Emily corporation issued 14000 shares of $100 par, 4% cumulative, preferred stock for $110 per share. no dividends have been paid to preferred share holders.
It is now December 31, 2011, and Fortune has provided legal services as planned. What adjusting entry should Fortune make to account for the work performed from October 1 through December 31, 2011?
Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:
During the month, 6,000 units of product were manufactured and 5,500 units of product were sold. On May 1, George's carried no inventories.
Which of the following has the least effect on sample size:
Which one is not a main objective of the Sarbanes-Oxley Act?
The fair value of the Papa stock on that date was $53 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2011?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd