User Account

All Pages

Semiannual interest payments

Assignment Help Accounting Basics
Reference no: EM13969546

1. Company A issued $7,000,000 of a bond on 1-1-x1 for 98 (meaning 98%). The bonds have a 10 year life, stated interest rate of 12%, semiannual interest payments. 

2. Company B issued $3,000,000 of a bond on 1-1-x1. Since the market interest rates were lower than the bond interest rate, the bonds were sold for a premium. The company received $3,200,000 for the bonds with a 20 year life, 10%, semiannual interest payments.

A. Journal entry required for the sale of the bond on 1-1-x1 
B. Journal entry for the interest payment on 6-30-x1
C. Journal entry for the interest payment on 12-31-x1 

REQUIRED:

For each section (1, 2), give the following journal entries. 

Reference no: EM13969546

Questions Cloud

Prepare a case study on turkell stud mill case : Prepare a case study on "Turkell Stud Mill Case". Analysis Coherent flow; adequate research; presentation of the key issues and concerns related to the situation.
The public methods of the bankaccount class : The public methods of the BankAccount class in your code to achieve the steps listed above to get full credit. Pretend theBankingDriver does not know the amounts in the two BankAccount objects and has to use their public methods to get these values.
Write the maxterm expansion for f : A combinational switching circuit has four inputs and one output as shown. F = 0 iff three or four of the inputs are 1.    a.  Write the maxterm expansion for F.
Customers on the afternoon of the party : She sets up a home catering business and immediately agrees to cater for 100 people attending a 21st birthday party for a price of £300. She insists on £100 deposit. As the day for the party approaches, she finds that she has taken on too much wor..
Semiannual interest payments : Company B issued $3,000,000 of a bond on 1-1-x1. Since the market interest rates were lower than the bond interest rate, the bonds were sold for a premium. The company received $3,200,000 for the bonds with a 20 year life, 10%, semiannual interest pa..
Affect varied locations to different extents : In this course we examine a number of environmental impacts, and some of them may be of particular concern in your local area. Environmental impacts like urban sprawl, air and water pollution, and rapid urban growth (just to name a few) tend to affec..
What are the reasons for contradiction between net present : What are the reasons for contradiction between Net Present Value (NPV) and Internal Rate of Return (IRR). What is social cost benefit analysis?
One or two most challenging issues in identifying : Discussion Question 2-1. What are the one or two most challenging issues in identifying and documenting IT acquisition requirements (i.e., the requirements for solving the problem that was defined)? Explain your reason(s) and how the issue(s) can be ..
Why would dan find your solution effective or helpful : Post your response to these questions after reading the scenario: If you were Dan's new supervisor, provide a method for how you would address the issue described above, and justify the effectiveness of your solution. Why would Dan find your solut..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Whitefish company budgets its cash two months at a time

whitefish company budgets its cash two months at a time. budgeted cash disbursements for march and april respectively

  Pages on bankruptcy fraud paper

Write a 7 - 8 pages on Bankruptcy Fraud paper and a 5 slide presentation of the paper in powerpoint, this is a graduate level of paper and should be consistent not copy from another paper.The paper, which must be APA compliant, should evaluate how..

  The predetermined overhead rate is 3 per direct labor

allocated cost and opportunity cost. binder manufacturing produces small electric motors used by appliance

  Company total assets turnover

Gardial & Son has an ROA of 12%, a 5% profit margin, and a return on equity equal to 20%. What is the company's total assets turnover? What is the firm's equity multiplier?

  Issues on the financial accounting standards board

Your supervisor has asked you to research leases and lease structure issues on the Financial Accounting Standards Board (FASB) website, in particular the current practice and thought related to direct financing, sales type, and operating leases.

  What is the primary motivation for channel stuffing

Visit the financial education website created by Equade Internet Ltd. at www.investopedia.com. Note the definition for channel stuffing. According to this site, what is the primary motivation for channel stuffing?

  Part j88 is used in one of quinney corporations products

part j88 is used in one of quinney corporations products. the company makes 3000 units of this part each year. the

  Calculate the operating income for july

Preppy Co. makes and sells a single product. The current selling price is $30 per unit. Variable costs are $21 per unit, and fixed expenses total $90,000 per month. Sales volume for July totaled 12,000 units.

  At the end of the prior year the fair value of the security

a companys portfolio of available-for-sale securities consists of the common stock of one company. at the end of the

  Wellcom corporation has the following sales mix in units

wellcom corporation has the following sales mix in units for its three products a 20 b 35 and c 45. fixed costs total

  Financial statements for the fiscal year

Halifax Corp. has a December 31 fiscal year-end. The company will release its financial statements for the fiscal year 2015 on March 15th, 2016. A 10-year note payable to Nova Scotia Bank is becoming due on June 30th, 2016. On January 20th, 2016, the..

  Gianna tuck is an accountant for post pharmaceuticals her

gianna tuck is an accountant for post pharmaceuticals. her duties include tracking research and development spending in

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd