Prepare the journal entry, Accounting Basics

 Assume that the following are independent situations recently reported in the Wall Street Journal. 1. National Electric 8% bonds, maturing January 28, 2013, were issued at 112.16. 2. Aeronautic 8% bonds, maturing September 24, 2027, were issued at 96.99. (a) Were National Electric and Aeronautics bonds issued at a premium or a discount? (c) Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $899,900 of bonds in total. 

Posted Date: 8/4/2012 9:19:13 PM | Location : United States







Related Discussions:- Prepare the journal entry, Assignment Help, Ask Question on Prepare the journal entry, Get Answer, Expert's Help, Prepare the journal entry Discussions

Write discussion on Prepare the journal entry
Your posts are moderated
Related Questions
Q. Calculate the gross margin percentage? Calculate the gross margin percentage by using the following formula Grossmargin percentage = Grossmargin/Net sales To show th


Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb

Assignment: This assignment will be to describe and document the internal controls over a transaction cycle at a local business. A transaction cycle could be the sales process,

State the list of Special journals Purchases - All credit purchases of merchandise Cash Payments - All payments of cash Sales - All credit sales of merchandise

Q. Define the Opportunity cost? Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the

A supplier to the electric utility industry produces power  generators.  The Transportation costs are high.  One  market area includes the lower part  of  the Great  Lakes region

Bonds issued giving the holder the option of exchanging the bonds for capital stock of the corporation are called


What do you recognize by Open Item Managed Account? Ans) Open item management make sures that all items that have not yet been cleared are available in the system. Only after ea