Reference no: EM131218702
1. At December 31, 2014, Hyasaki Corporation has the following account balances:
|
Bonds payable, due January 1, 2023
|
$2,102,000
|
|
Discount on bonds payable
|
113,400
|
|
Interest payable
|
104,960
|
Show how the above accounts should be presented on the December 31, 2014, balance sheet, including the proper classifications.
2. Matt Perry, Inc. had outstanding $6,135,000 of 12% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,243,000 of 9%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 12% bonds at 103 on August 1. Unamortized bond discount and issue cost applicable to the 12% bonds were $129,000 and $35,000, respectively.
Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds.
3. Venezuela Co. is building a new hockey arena at a cost of $2,719,000. It received a downpayment of $514,200 from local businesses to support the project, and now needs to borrow $2,204,800 to complete the project. It therefore decides to issue $2,204,800 of 11%, 10 year bonds. These bonds were issued on January 1, 2013, and pay interest annually on each January 1. The bonds yield 10%. Venezuela paid $51,400 in bond issue costs related to the bond sale.
(a) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2013.
4. Venezuela Co. is building a new hockey arena at a cost of $2,719,000. It received a downpayment of $514,200 from local businesses to support the project, and now needs to borrow $2,204,800 to complete the project. It therefore decides to issue $2,204,800 of 11%, 10 year bonds. These bonds were issued on January 1, 2013, and pay interest annually on each January 1. The bonds yield 10%. Venezuela paid $51,400 in bond issue costs related to the bond sale.
(a) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2013.
(b) Prepare a bond amortization schedule up to and including January 1, 2017, using the effective interest method.
(c) Assume that on July 1, 2016, Venezuela Co. redeems half of the bonds at a cost of $1,169,170 plus accrued interest. Prepare the journal entry to record this redemption.
|
Ensure the quality of public water supply systems
: Do you think that the impacts of the program to control automobile pollution are progressively or regressively distributed? How about the program to ensure the quality of public water supply systems?
|
|
Application-cybercrime-related laws and digital evidence
: Imagine you are watching a movie that has a dramatic court scene where the prosecutor picks up a menacing weapon used in the commission of the crime. As he or she thrusts it up high for all to see, a collective gasp echoes through the courtroom. T..
|
|
Reduce tailpipe emissions
: Catalytic converters are required on all new cars to reduce tailpipe emissions. Explain how this technology could have a beneficial impact in the short run but a less beneficial impact in the long run.
|
|
Identify which names in those two genealogies
: What do you think about that similarity? - How does this information affect the way these genealogies should be interpreted?
|
|
Prepare a bond amortization schedule
: Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2013. Prepare a bond amortization schedule up to and including January 1, 2017, using the effective interest method.
|
|
What is the theoretical framework that supports the topic
: Theoretical Framework-What is the theoretical framework that supports the topic? Write a paragraph that provides the background for the development of the theory, model, or concept upon which you will frame your research.
|
|
Consumer expenditure maximized
: Suppose that the demand function is given by Qd=24-b x P. Suppose that b=2. At which price is consumer expenditure maximized?
|
|
Why video games are works of art
: Compare/contrast essay on Why Video Games Are Works of Art and Can Video Games Teach Us How to Succeed in the Real World.
|
|
What does this tell us about people
: a.) What does this tell us about people? b.) Can you think of other areas where that may be the ease? c.) What does this suggest about pricing?
|