On january 1 2008 a company issued 10 10-year bonds payable

Assignment Help Accounting Basics
Reference no: EM13570214

On January 1, 2008, a company issued 10%, 10-year bonds payable with a par value of 720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for 817,860 cash, which provided the holders an annual yield of 8%. Prepare the journal entry to record the first semiannual interest payment, assuming it uses the straight-line method of amortization.

Reference no: EM13570214

Questions Cloud

A manufacturing company that produces a single product has : a manufacturing company that produces a single product has provided the following data concerning its most recent month
The accrual -basis net income was 107000 in computing net : the accrual -basis net income was 107000. in computing net income the company recorded 12600 of depreciation expense
The tax rate is 35 percent and we require a 15 percent : we are evaluating a project that costs 924000 has an eight-year life and has no salvage value. assume that depreciation
A firm has targeted a 20 growth in sales this year last : a firm has targeted a 20 growth in sales this year. last years cash as a percent of sales was 10 accounts receivable 30
On january 1 2008 a company issued 10 10-year bonds payable : on january 1 2008 a company issued 10 10-year bonds payable with a par value of 720000. the bonds pay interest on july
Calculate the aftertax cost of debt under each of the : calculate the aftertax cost of debt under each of the following conditions.yield corporate tax ratea. 8.00 18b. 12 34c.
Research methods in social science essay topic compare and : research methods in social scienceessay topic compare and contrast the purpose mechanics strengths and weaknesses of
Will and bill will equally share in the decision making and : will and bill both enjoy sunshine water and surfboards. thus the two friends decided to create a business together
Someone paid 10000 cf at t0 for an investment that will : someone paid 10000 cf at t0 for an investment that will pay 750 at the end of each of the next 5 years then an

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  The articles of partnership for a-b partnership provide for

the articles of partnership for a-b partnership provide for a salary allowance of 5000 per month for partner b with the

  Basics of financial intermediary

Banks are not the only financial intermediary from which corporations can obtain financing. What are the other intermediaries? How much financing do they supply, relative to banks, in the United Kingdom, Germany, and Japan?

  Calculate the depreciation expense

Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the figures used on a separate Excel spreadsheet as directed on the Problem Set 2 instructions.

  Basics of diluted earnings per share

The amount that should be shown as Atwater's diluted earnings per share for 2011 (rounded to the nearest cent) is:

  Computing gain or loss on early extinguishment of debt

On June 30, 2011, Omara acquired all of these bonds at 94 and retired them. What net carrying amount should be used in computing gain or loss on this early extinguishment of debt?

  Indicate how each of the following six different

indicate how each of the following six different transactions that dynamic mattress might make would affect i cash and

  Implementing the change to equity method

Gerken Company concluded at the beginning of 2013 that the company's ownership interest in DillCo had increased to the point that it became appropriate to begin using the equity method to account for the investment.

  What are the nominal and effective costs

Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,562,500 and accounts receivable averaged $437,500. Half of Grunewald's customers paid on the 10th day and took discounts.

  Dividends received from the securities

An alumnus donates securities to St. Aloysius College, a private college, and stipulates that the principal be held in perpetuity and income from the securities be used for faculty travel. Dividends received from the securities should be recognize..

  A study has indicated that some of the tours are not

blueline tours inc. operates tours throughout the united states. a study has indicated that some of the tours are not

  Employee identification number on a computer file

Employee identification number on a computer file

  Ferguson metals is a decentralized mining smelting and

ferguson metals is a decentralized mining smelting and metals company with three divisions mining lead and copper.the

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