User Account

All Pages

On january 1 2013 piper co issued ten-year bonds with a

Assignment Help Accounting Basics
Reference no: EM13584749

On January 1, 2013, Piper Co. issued ten-year bonds with a face value of $4,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are:

  • Present value of 1 for 10 periods at 10% 386
  • Present value of 1 for 10 periods at 12% 322
  • Present value of 1 for 20 periods at 5% 377
  • Present value of 1 for 20 periods at 6%312
  • Present value of annuity for 10 periods at 10%6.145
  • Present value of annuity for 10 periods at 12%5.650
  • Present value of annuity for 20 periods at 5%12.462
  • Present value of annuity for 20 periods at 6%11.470

(a) Calculate the issue price of the bonds.

(b) Without prejudice to your solution in part (a), assume that the issue price was $3,536,000. Prepare the amortization table for 2013, assuming that amortization is recorded on interest payment dates.

Reference no: EM13584749

Questions Cloud

Does this violate the first law of thermodynamics explain : 1 salt crystals will form saltwater as the water evaporates. a salt crystals is much more ordered than salt dissolved
Assuming the standard deviation of the population is 128 : a statistician employed by a consumer testing organization reports that at 95 confidence he has determined that the
800 collected on an account receivable from a local : snake creek company has one trusted employee who as the owner said handles all of the book-keeping and paperwork for
Calculate the cost of one unit of product under absorption : in the coming year imre company expects to sell 56900 units at 26 each. imres controllerprovided the following
On january 1 2013 piper co issued ten-year bonds with a : on january 1 2013 piper co. issued ten-year bonds with a face value of 4000000 and a stated interest rate of 10 payable
A 4 cm diameter vertical cylinder is sealed at the top by a : a 4 cm diameter vertical cylinder is sealed at the top by a frictionless piston. the piston is 25 cm above the bottom
Some interest cost of laserwords inc is capitalized for the : laserwords inc. is a book distributor that had been operating in its original facility since 1987. the increase in
Rockwell company owns a single restaurant which has a : rockwell company owns a single restaurant which has a cantina primarily used to seat patrons while they wait on their
What techniques might the imposter have employed to breach : one morning the computers at u.s. leasing became sluggish. computer operators were relieved when a software

Reviews

Write a Review

Accounting Basics Questions & Answers

  Operating income of failing to consider residual value

Turner, Inc. uses straight-line depreciation for its equipment. Turner purchased equipment for $500,000 and estimated its useful life at 8 years. The bookkeeper failed to consider the residual value of $50,000. What is the impact on earnings per s..

  Paper on recommended journal articles

Submit a paper on one of the major topics listed below using one of the recommended journal articles found in the syllabus as the basis for the paper and incorporating at least two other related articles of the student's choice:

  Periodic inventory system and gross method

Which of the following is the correct entry to record the payment by Underwood Inc., within the 10 days if the company uses the periodic inventory system and the gross method to record purchases?

  Assume russell drove 1360 miles last month without making

russell preston delivers parts for several local auto parts stores. he charges clients 0.75 per mile driven. russell

  Exeter corporation has recently begun a continuous

exeter corporation has recently begun a continuous improvement campaign. as a consequence there have been many changes

  If you were a partner in a partnership why would you want

if you were a partner in a partnership why would you want to state all partnership assets in terms of current prices at

  The adjusted trial balance of cavamanlis co as of december

the adjusted trial balance of cavamanlis co. as of december 31 2011 contains the following. account

  The vacations are expected to be taken in the next year and

an employee receives an hourly rate of 24 with time and a half for all hours worked in excess of 40 during a week.

  A single-product company operates at breakeven with sales

a single-product company operates at breakeven with sales revenue of 480000 while selling 87000 units. which of the

  In your opinion whether the kse has over-priced or

your neighbor is a security analyst. he has conducted his research about some stocks in karachi name ofcity stock

  Investments in short-term government securities

Investments in Short-Term Government Securities

  Determine the tax consequences of the transaction if

in 2012 knoxville musical sales reports taxable income of 2 million tax preference items of 100000 net positive

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