Journal entry to record the retirement

Assignment Help Accounting Basics
Reference no: EM13155301

The balance sheet for marin co include 7.5% bonds payable due december 31, 2018 for $1,600,000. Unamortized discount on bonds payable for $64,000. The bonds were issued on dec 31, 2008 at 95 with interest payable on june 30 and december 31( straight line). On january 1 2011 marin retire $640,000 of these bonds at 101. what are the journal entry to record the retirement?

Reference no: EM13155301

Questions Cloud

Is the unemployment rate in the interval : Use the method from Section 6.4 to construct a 95% prediction interval for the 2004 unemployment rate. Is the 2004 unemployment rate in the interval?
What is forecasted dividend payout ratio : Bease Inc. has a capital budget of $625,000, and it wants to maintain a target capital structure of 60% debt and 40% equity. The company forecasts a net income of $475,000. If it follows the residual dividend policy, what is its forecasted dividen..
Write the balanced net ionic equations compound with aqueous : Write the balanced net ionic equations for each of the following compounds with aqueous NH4OH 1. HCl (aq) 2. H2SO4 (aq) 3. HNO3 (aq) 4. NaOH (aq)
What mutations in the amino acid sequence : What mutations in the amino acid sequence would probably have the least detrimental effect on the functionality of the protein?
Journal entry to record the retirement : Unamortized discount on bonds payable for $64,000. The bonds were issued on dec 31, 2008 at 95 with interest payable on june 30 and december 31( straight line). On january 1 2011 marin retire $640,000 of these bonds at 101. what are the journal en..
What is the ph at the equivalence point : 25.00 mL of 0.25 M formic acid is titrated with 25.00 mL of .2500 M NaOh. What is the pH at the equivalence point?
The length of a rod is normally distributed : The length of a rod is normally distributed with mean 4 inches and variance 0.01 square inch. Two such rods are placed end to end and fitted into a slot. The length of the slot is 8 inches with a tolerance of -0.1 to 0.1 inch. What is the probability..
Which of the following would not be affected : If a cell were treated with an inhibitor that would cause microtubules to fall apart, which of the following would NOT be affected?
Probability to make good on escape by using road b : The probability of selecting each of the roads are the same. It is 1/3. If the prisoner succeeds on her escape, what is the probability that she made good on her escape by using road b.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Accounting program sponsored by accounting organizations

As part of a Careers in Accounting program sponsored by accounting organizations and supported by your company, you will be taking a group of high-school students through the accounting department in your company. You will also provide them with v..

  Prepare a production budget

They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..

  Treatment on the bank reconciliation

If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to:

  Considered product cost for first year of coverage

A manufacturing company prepays its insurance coverage for a three-year period. The premium for three years is $2,700 and is paid at the beginning of the first year. 80% of the premium applies to the factory and 20% applies to administrative. What..

  Describe the financial statement misstatements

For inadequacies in internal controls describe the financial statement misstatements that may arise, and describe how they may occur.

  Prepare the necessary correcting entries

Prepare the necessary correcting entries, assuming that Longfellow uses a calendar-year basis.

  Reconciliation of retained earnings

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

  Labor rate variance and favorable labor efficiency variance

Which of the following is the most probable reason a company would experience an unfavorable labor rate variance and a favorable labor efficiency variance?

  Charitable contribution deduction for the current year

On October 1, Kingbird Corporation made a contribution to a qualified charitable organization of $6,300 in cash (not included in any of the above items). Determine Kingbird's charitable contribution deduction for the current year.

  Adjusted gross income for the current year

Determine Tonya's adjusted gross income for the current year. I know that the income is limited to the tax benefit from the prior year, but I am unsure of the tax benefit of the prior year, whether you would use all the of $10,000 or if it's limit..

  Determine the number of common shares issued

The 2008 annual report for Fortune Brands, the seller of Pinnacle golf balls and MasterLock padlocks,disclosed that 750 million shares of common stock have been authorized.

  Credit for child and dependent care expenses

Dabney's salary is $35,000 while Nancy's salary is $40,000 and they have interest income of $3,000. During the year, they spend $9,000 for child care expenses that are required so both of them can work outside of the home. Calculate the credit f..

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