User Account

All Pages

Bonds issued at a premium bunkichi corporation issued the

Assignment Help Accounting Basics
Reference no: EM13453966

Bonds Issued At A Premium Bunkichi Corporation issued the following bonds at a premium:

Date of issue and sale          March 1, 20

Principal amount                   $800,000

Sale price of bonds                 103

Denomination of bonds         $1,000

Life of bonds                           10 years

Stated rate                             8% payable semiannually on August 31 and February 28

1. Prepare journal entries for:

a. Issuance of bonds at a premium

b. Interest payment and premium amortization on the bonds on August 31, 20.

c. Year end adjustment on the bonds for20-1.

d. Reversing entry for the beginning of 20-2.

e. Interest payments and premium amortization on the bonds for 20-2

2. Calculate the carrying value of the bonds on August 31, 20-2

Reference no: EM13453966

Questions Cloud

Which company experienced a tarnished reputation and : 1 in a survey of 50 corporations which of the following was rated as a benefit of strategic management?a. clearer sense
Discuss environmental factors that may impact the : discuss environmental factors that may impact the organizations marketing decisions.-nbsp analyze the importance of
Select two different types of lodging facilities eg luxury : select two different types of lodging facilities e.g. luxury hotel resort cruise line.describe your selected
How would the conclusion change if mathew bought new : to save on gasoline expenses edith and mathew agreed to carpool together for traveling to and from work. edith
Bonds issued at a premium bunkichi corporation issued the : bonds issued at a premium bunkichi corporation issued the following bonds at a premiumdate of issue and
Explain the parasympathetic response comprised in the : question 1.list the three phases of gastric secretion.question 2.what initiates the cephalic phase?question 3.describe
In this report you will compare the literary styles : in this report you will compare the literary styles biographies influences and literary styles of two authors. the
The utilitarian ethic developed by jeremy bentham and john : the utilitarian ethic developed by jeremy bentham and john stuart mill has been one of the most influential approaches
Estimate the net cash flows from operating activities : determine the net cash flows from operating activities investing activities and financing activities. also determine

Reviews

Write a Review

Accounting Basics Questions & Answers

  Differences-nol-allocation methods and taxes

What are the permanent and temporary differences? What is NOL? Why does it occur? What are the allocation methods? What are the deferred tax assets and deferred tax liability?

  What would be the loss accrual

Sue Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:

  Depreciation rule-profit margin of business

Is Choi's ruling an ethical violation, or is it a legitimate decision in computing depreciation? How will Choi's new depreciation rule affect the profit margin of her business?

  Evaluate the equivalent units of production

Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs.

  How much is included in keith gross estate based on

At the time of his death on June 6, 2011 Keith was involved in the following real estate.

  Fixed costs for the production and marketing

Suppose the product manager of a new Flower Mills cereal has determined that the appropriate wholesale price for a carton of the new cereal is $48. The fixed costs for the production and marketing of the new product are $15million.

  Research the internet to find resources to assist

1 research the internet to find resources to assist individuals how to utilize excel or how to complete electronic

  Which form cash flow stream or lump-sum amount preferred

Given the cash flow stream and lump-sum amounts associated with each, and assuming a 9 percent opportunity cost, which alternative (X or Y) and in which form (cash flow stream or lump-sum amount) would you prefer?

  Supply cost in the flexible budget

The actual supplies cost for the month was $9,500. The supplies cost in the flexible budget for January would be closest to:

  Qualify for like-kind exchange treatment

What requirements must be met for property to qualify for like-kind exchange treatment?

  How many units are transferred using the average cost

a plant that uses process costing has 8000 units in beginning work in process 15000 more started and 5000 units in the

  Modified accrual basis of accounting

Which of the following fund types uses the modified accrual basis of accounting?

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