User Account

All Pages

Discuss the amount of interest revenue to be recorded

Assignment Help Accounting Basics
Reference no: EM131787908

On July 1, 20X4, UFO Inc. purchased $300,000 of bonds with a 4% coupon rate that mature on June 30, 15 years later. The bonds provide a 5% yield. Interest is to be received on June 30and December 31 every year. The bonds had a market value of $275,000 on December 31,20X4, and $272,000 on December 31, 20X5. UFO is a public company and applies IFRSs.1. Assuming the bonds will be held to maturity, what is the amount of interest revenue to be recorded for the fiscal year ended December 31, 20X5?

Reference no: EM131787908

Questions Cloud

Salaries and wages expense and salaries and wages : Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March
Problem regarding the license plates : South Carolina previously had license plates containing two letters and four digits but now has plates with three letters and three digits.
The national labor relations board-social media firing : The National Labor Relations Board (NLRB) and ‘Social Media Firing’.
Evaluate potential business level strategy for organization : Evaluate potential business level strategies for the organization. Assess potential corporate level strategies for the organization.
Discuss the amount of interest revenue to be recorded : what is the amount of interest revenue to be recorded for the fiscal year ended December 31, 20X5
Next flight to a space station : Astronauts If 8 people are qualified for the next flight to a space station, how many different groups of 3 people can be chosen for the flight?
Daniel pinks rowe theory of motivation states : Daniel Pink's ROWE theory of motivation states that people are more interested in the work when the work itself has meaning.
How many ways can she select 20 different products : If all the products are the same size, in how many ways can she select 20 different products for her case?
Are they going to be a new trend in employment law : Ban the box’ laws: What are they? What states have them and why? Are they going to be a new trend in employment law? Explain.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Depreciation effects on net income

Brandywine Homecare, a not-for-profit business, had revenues of 12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million.

  Determine the reporting capital assets and long-term debt

Describe the difference in reporting capital assets and long-term debt in the governmental funds financial statements and reporting those elements.

  Determine the cost of goods manufactured

Question - Cost of Goods Manufactured. Determine the Cost of Goods Manufactured and Manufacturing Overhead

  Discuss what is meant by each element of the statement

Discuss what is meant by each element of the statement with respect to creating an ethical organizational environment. Incorporate concepts from this week's lecture in your post.

  Discuss how should we report lease liabilities

The new FASB standard makes use of two classifications for leases

  What is stan realized gain on the sale

How would your answer to Part a. change, if at all, if the FMV of the gift property was $85,000 as of the date of the gift.

  What processes are indispensable to be performed

HA2042ACCOUNTING INFORMATION SYSTEMS ASSIGNMENT. Develop business requirements, What processes are indispensable to be performed? What outcomes are required from these processes to achieve business objectives

  What is a contingent liability

What is a contingent liability? Describe the three ranges of loss contingencies outlined in SFAS No. 5, including a brief summary of the accounting and disclosure requirements ?

  Total dollar return and rate of return

If I bought 400 shares of AllTell stock for $15 per share and one year later, sold the stock for $21 per share, and receive a $0.90 cash dividend:

  Reconciliation of retained earnings

Which of the following will be disclosed in the reconciliation of retained earnings?

  What action should hans thorborg take why

In late May 2004, Hans Thorborg, the general manager of the German plant of Precision Worldwide, Ine. (PWI). What action should Hans Thorborg take? Why?

  What is participative budgeting what are its potential

what is participative budgeting? what are its potential benefits? what are its potential disadvantages?what is

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