Reference no: EM131222002
Cupola Fan Corporation issued 12%, $410,000, 10-year bonds for $394,000 on June 30, 2016. Debt issue costs were $1,600. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2017), the corporation exercised its call privilege and retired the bonds for $404,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
Required: Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2016 and June 30, 2017 according to IFRS.
1. Record the issuance of the bonds.
June 30, 2016
2. Record the payment of interest.
December 31, 2016
3. Record the amortization of debt issue costs.
June 30, 2017
4. Record the payment of interest.
June 30, 2017
|
What did the company executives do wrong
: What did the company executives do wrong? What were 5 intangible costs of the scandal ($ value is not required)? How and what type of CIA controls would have decreased the potential for the scandal.
|
|
What is the par per share after the split
: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $25 on June 13. Prepare the journal entry to record ..
|
|
Part of project integration management
: Name the main planning tasks performed as part of project integration management? What are the main documents created, and what should they contain?
|
|
What is the minimum number of cells possible in c
: A data cube, C, has n dimensions, and each dimension has exactly p distinct values in the base cuboid. Assume that there are no concept hierarchies associated with the dimensions.
|
|
Payment of interest and amortization of debt issue costs
: Cupola Fan Corporation issued 12%, $410,000, 10-year bonds for $394,000 on June 30, 2016. Debt issue costs were $1,600. Interest is paid semiannually on December 31 and June 30. Prepare the journal entry to record the issuance of the bonds, the payme..
|
|
Prepare the revaluation and pre-acquisition journal entries
: ACC/ACF2100 Financial Accounting Assignment. Required: Prepare an acquisition analysis at 1 July 2011. Prepare the revaluation and pre-acquisition journal entries at 30 June 2015. Prepare the consolidation journal entries for intra-group transactions..
|
|
Implement a relational database using a database
: ITECH 1006 - Database Management Systems- Design and implement a relational database using a database management system and utilise a query language tools and techniques to obtain data and information from a database
|
|
Scheduling the staffing of the center
: Scheduling staff. You are the director of the Computer Center for Gaillard College and responsible for scheduling the staffing of the center, which is open from 8a.m. until midnight. You have monitored the usage of the center at various times of..
|
|
What are some of the current trends organizations face
: What are some of the current trends organizations face with mobile computing security and what are some of the remediation steps companies take to ensure data confidentiality and integrity?
|