User Account

All Pages

Brooks inc has issued three types of debt on january 1 2014

Assignment Help Accounting Basics
Reference no: EM13391263

Brooks Inc. has issued three types of debt on January 1, 2014, the start of the company's fiscal year.

(a) $5 million, 20-year, 8% secured subordinated bonds, interest payable annually. Bonds were priced to yield 10%.

(b) $8 million par of 20-year, zero-coupon bonds at a price to yield 12% per year.

(c) $10 million, 20-year, 10% bonds secured by the factory building interest payable semi-annually to yield 8%.

Instructions

Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue.

Reference no: EM13391263

Questions Cloud

On january 1 2014 spalding company sold 12 bonds having a : on january 1 2014 spalding company sold 12 bonds having a maturity value of 1000000 for 1075814.74 which provides the
If a contractrsquos open interest declines during an : if a contractrsquos open interest declines during an actively traded day what does it suggest about the number of
Give your opinion of the rising cost of health carersquos : in light of the affordable health care act and the myriad of citizens using the new health care insurance system you as
Using south university online library eg cinahl or the : nbspmanaged care hospital reimbursementnbspmanaged care provider reimbursementusing south university online library
Brooks inc has issued three types of debt on january 1 2014 : brooks inc. has issued three types of debt on january 1 2014 the start of the companys fiscal year.a 5 million 20-year
Which of the given statements is true regarding the effect : which of the following statements is true regarding the effect of group cohesiveness and performance norms on group
Examine the political economic and social forces that have : a small primary care clinic has 69 employees representing 9 different clinical professions and 12 other skills. it
The final paper will involve applying the concepts learned : evaluation of corporate performancethe final paper will involve applying the concepts learned in class to an analysis
You have been hired by the organization of your preference : you have been hired by the organization of your choice. your job is to bring them into the 21st century in terms of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explain seven step ethical decision making model

Applying the American Accounting Associations‘Seven step ethical decision making model' construct a written report explaining how you will proceed.

  Primary objectives of accounting

Describe for the students the primary objectives of accounting. Explain the basic terminology of the accounting process or financial reporting.

  Determine the inventorys direct labor costs

Red Wing Company applies factory overhead based on direct labor costs. The company incurred the following costs during 2011: direct materials costs, $637,500; direct labor costs, $2,500,000; and factory overhead costs applied, $1,000,000.

  Budgeted production for the second quarter

Company policy is to have a finished goods inventory at the end of each quarter equal to 20% of the next quarter's sales. Budgeted production for the second quarter should

  How each transaction affects the accounting equation

Bass Lake Eatery borrowed $10,000 from the bank on April 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on March 31, 2011.

  Arantxa corporation stock transactions

Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. Prepare Arantxa's journal entries to record these transaction using the cost method.

  Accounting issues-ifrs and us gaap

Identify three major accounting issues on which IFRS and US GAAP currently differ. For each, outline briefly the nature of the divergence, and discuss the potential impact if the IFRS position is adopted in the US.

  Journal entry for settlement of asset retirement obligation

On December 31, 2019, Bassinger pays a demolition firm to dismantle the depot and remove the tanks at a price of $80,000. Prepare the journal entry for the settlement of the asset retirement obligation.

  Determine relevant fixed and variable costs

He has begun to determine relevant fixed and variable costs and has accumulated the following per unit data:

  What is the value of the leased asset at inception of lease

A firm leases equipment under a capital lease (analogous to an installment purchase) that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6%. What is the value..

  Entry to record poulter''s investment in the partnership

Prepare the entry to record Poulter's investment in the partnership, assuming the equipment has a fair value of $19,500.

  Efficiency variance and favorable labor rate variance

Which of the following entries would correctly record the charging of direct labor costs to Work in Process given an unfavorable labor efficiency variance and a favorable labor rate variance?

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