User Account

All Pages

Determine the price at which the bonds were issued

Assignment Help Accounting Basics
Reference no: EM13868021

On January 1, Applied Technologies Corporation (ATC) issued $ 500,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 10 percent. When the bonds were issued, the market interest rate was 10 percent. The bonds pay interest once per year on December 31.

Required:

1. Determine the price at which the bonds were issued and the amount that ATC received at issuance.

2. Prepare the journal entry to record the bond issuance.

 

3. Prepare the journal entry to record the first interest payment on December 31 assuming no interest has been accrued earlier in the year.

Reference no: EM13868021

Questions Cloud

What is a binary numbers : 1. What is a binary numbers?2. Explain the floating point representation? What is its utility? What is Excess-32 notation?
Fowler criticises the use of the conjunctions ''for'' and ''nor : I have attempted to try and educate myself on strict, proper grammar usage recently. I read this chapter: http://www.bartleby.com/116/402.html from The King's English by H.W. Fowler, and have ended coming away far more confused than before.
Present worth analysis and the data : 1. The expansion of the Wideplace Mall is delayed over the issue of parking.  There is not enough now to support the new facility and more must be added.  Let's suppose that there are 3 options:
Difference between digital immigrants and digital natives : Describe at least three ways in which digitization has changed the manner in which society consumes information - Which of the following statements best describes the main difference between digital immigrants and digital natives?
Determine the price at which the bonds were issued : Determine the price at which the bonds were issued and the amount that ATC received at issuance. Prepare the journal entry to record the bond issuance. Prepare the journal entry to record the first interest payment on December 31 assuming no interest..
What expression for a short, typically witty : What expression for a short, typically witty, lyric or saying gets from the Greek words "compose" and 'on'?
Complete the following table for each account of grocery : Complete the following table for each account by indicating (a) whether it is reported on the Balance Sheet (B/ S) the Balance Sheet (B/S) or Income Statement (I/ S); (b) the dollar amount by which the account increases (+), decreases ( ), or does no..
A completed scholarship application via wings cu online : A completed scholarship application via Wings CU Online
Disease and how does that affect the economy : In Global Economics, what is a relevant example of Dutch Disease and how does that affect the economy?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Venetian corporation manufactures car stereos it is a

venetian corporation manufactures car stereos. it is a division of berna motors which manufactures vehicles. venetian

  Piazza corp has sales of 400000 a contribution margin

piazza corp has sales of 400000 a contribution margin ratio of 30 and a profit of 40000. if 20000 units were sold what

  Main aspects of the regulatory environment

Write a paper that describes the main aspects of the regulatory environment which will protect the public from fraud within corporations, Pay particular attention to SOX requirements.

  Prepare a balance sheet for cornell corp

Prepare a 2011 balance sheet for Cornell Corp. based on the following information: cash = $136,000; patents and copyrights = $630,000; accounts payable = $215,000;

  Prepare the companys statement of retained earnings

Prepare the company's income statement and prepare the company's statement of retained earnings

  Racing engines inc purchased a patent from johnson

racing engines inc. purchased a patent from johnson motorscorporation for 18000000 on january 1 2007. the patent is

  Respond to the followingdetermine the circumstances under

specal assessmentdebt may be in economic substance andor legal form an obligation of the asessed property owners rather

  Account balance at the end of the tenth year

At the end of the sixth year, the account balance was transferred to a bank paying 10%, and annual deposits of $6,000 were made at the end of each year from the seventh through the tenth years. What was the account balance at the end of the tenth ..

  Set-up or dismantling costs

Alternatively, SCCC can rent a pre-fabricated building at a cost of $1000 per month with no set-up or dismantling costs. It will benefit SCCC to build the office if it expects the stadium project to exceed.

  Kragan clothing company manufactures its own designed and

kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog

  Boston company is considering the production and sale of a

boston company is considering the production and sale of a new product with the following sales and cost data unit

  Plan under-funded or over-funded

Provide Harvards 2000 pension expense journal entry? What does the account Prepaid / Accrued cost represent? Is it a liability or asset? Is the plan under-funded or over-funded?

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