Entries required to record the issuance of bonds

Assignment Help Accounting Basics
Reference no: EM13152955

On january 1, 2004 kate products issued ten year convertible bonds of $1800000 at 105. Interest es payable semiannually on june 30 abd dicember 31 at a rate of 12%. straight-line amortization is recorded at the end of the calendar year. Provide entries required to record the issuance of bonds on january 1, 2004

Reference no: EM13152955

Questions Cloud

What is the present value of this deferred- funds flow : A sum of $16,000per year will be received uniformly over a five-year period beginning two years from today. What is the present value of this deferred- funds flow if interested is compounded continuously at a normal rate of 9%.
Problem regarding break-even units : Madison Company's variable costs are 25% of sales. Its selling price is $150 per unit. If Weed sells one unit more than break-even units, how much will profit increase?
Explain marble reacts with hydrochloric acid solution : Marble (calcium carbonate) reacts with hydrochloric acid solution to form calcium chloride solution, water, and carbon dioxide.
Find regression line with all of states removed : Find the regression line with all of these states removed from the calculation. Draw this new line on your plot. Was this group of states inuential?
Entries required to record the issuance of bonds : On january 1, 2004 kate products issued ten year convertible bonds of $1800000 at 105. Interest es payable semiannually on june 30 abd dicember 31 at a rate of 12%. straight-line amortization is recorded at the end of the calendar year.
Describe different methods of depreciation an equipment : For what rate of inflation, both the options are equally attractive ? Describe two different methods of "Depreciation" an equipment / plant may undergo (with numerical example)
Why it is not generally informative to judge unusualness : The residuals for Alaska in the original regression is above 50. Explain why it is not generally informative to judge the unusualness of an observation purely by the magnitude of its residual?
Explain why is the intercept of a calibration curve : Why is the intercept of a calibration curve of absorbance vs concentration not zero?
Methods for evaluating investments in research-development : "It is impossible to use DCF methods for evaluating investments in research and development. There are no cost savings to measure, and we don't even know what products might come out of our R&D activities."

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining fringe benefits

Why are fringe benefits provided by employers to employees more valuable to those employees than if the employer simply gave the employees the money necessary to purchase those fringe benefits?

  Unit cost for the direct materials

What is the unit cost for the direct materials for 19x1, assuming direct materials cost is for the production of 507,000 units? A. $3.20 b. $3.80 c. $4.00 d. $4.32 128.

  Problem regarding minimum pretax return

The machine would reduce labor and other costs by $67,000 per year. The company requires a minimum pretax return of 15% on all investment projects. The net present value of the proposed project is closest to:

  Tax consequences of the exchange

The common stock has voting rights. The preferred stock does not. a. Is the exchange nontaxable under Sec. 351? Explain the tax consequences of the exchange to Al, Bob, Carl, and West.

  What is the monthly break-even in sales dollars

Allen Company produces and sells a single product whose selling price is $100.00 per unit and whose variable expense is $80.00 per unit. The company's fixed expense total $400,000 per month. What is the monthly break-even in sales dollars?

  Absorption and variable costing income statements

Explain the difference between absorption and variable costing income statements and discuss which method has a greater chance of manipulation by management.

  Computing basic earnings per share

Woolery, Inc. had 50,000 shares of common stock outstanding at January 1, 2009. Compute basic earnings per share for the year ended December 31, 2009.

  Standard using traditional costing by direct labor

Overhead applied to Standard using traditional costing using direct labor hours is:

  Effect of the application of overhead

Harmon Production Company applies overhead to jobs. Which of the following is one effect of the application of overhead?

  Use of guaranteed payments in partnership

What kind of situation would make guaranteed payments a logical way of starting a two-person partnership?

  What is the realized gain and recognized gain

On December 31, Year 5, Tasha sold the property for $102,000, after having taken $47,525 in MACRS depreciation deductions. What is the realized gain, recognized gain and character (1231 (capital) v. ordinary)?

  Opinion in the internal control audit report

The existence of a material weakness led to an adverse opinion in the internal control audit report of a publicly traded company. Which of the following statements is correct if management believes that it has remediated the weakness?

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd