Reference no: EM131205919
On May 1, 2017, Herron Corp. issued $615,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2017, and pay interest annually on May 1. Financial statements are prepared annually on December 31.
Prepare the adjusting entry to record the accrual of interest on December 31, 2017
Show the balance sheet presentation on December 31, 2017
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Equipment
Bonds Payable
Cash
Common Stock
Cost of Goods Sold
Depreciation Expense
Discount on Bonds Payable
Equipment
Federal Income Taxes Payable
Federal Uemployment Taxes Payable
FICA Taxes Payable
Gain on Bond Redemption
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Inventory
Lease Liability
Loss on Bond Redemption
Mortgage Payable
Notes Payable
Notes Receivable
Other Operating Expenses
Paid-in Capital in Excess of Par-Common Stock
Payroll Tax Expense
Preferred Stock
Premium on Bonds Payable
Prepaid Insurance
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
Sales Taxes Payable
Service Revenue
State Income Taxes Payable
State Unemployment Taxes Payable
Subscription Revenue
Ticket Revenue
Unearned Service Revenue
Unearned Subscription Revenue
Unearned Ticket Revenue
|
Prepare a paper on history and application of kaizen
: Prepare a 600-word paper , not including title page and references on The history and application of Kaizen to Process Improvement. You will research your choice of this topic.
|
|
Market price of sandals common stock
: On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 30,000, $1 par, common shares. The market price of Sandals common stock is $35 on June 30. Record the stock dividend. (If no entry is required for a transactio..
|
|
Compute the fair value of a chooser option
: Compute the fair value of a chooser option which expires after n=10 periods. At expiration the owner of the chooser gets to choose (at no cost) a European call option or a European put option. The call and put each have strike K=100 and they matur..
|
|
Write the mathematical expressions for the voltage vc
: Write the mathematical expressions for the voltage vC and the current iC when the switch is closed. - Sketch the waveforms of vC and iC.
|
|
Prepare adjusting entry to record accrual of interest
: On May 1, 2017, Herron Corp. issued $615,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2017, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the adjusting entry to record the a..
|
|
Company-wide management information system
: What are the possible consequences of introducing a company-wide Management Information System into an organisation?
|
|
Estate tax in the philippines
: Country However,that same tax law grant tax exemption on intangible owned by Filipinos ,therein,will the transfer of tax of stocks to Pilar be included in the gross gift of Philip and therefore subject to estate tax in the Philippines?
|
|
Find the thevenin equivalent circuit for the network
: Find the Thévenin equivalent circuit for the network external to the resistor R in each of the networks of given figure.
|
|
Identify and explain engineering business functions
: Manage work activities to achieve organisational objectives - Identify and explain engineering business functions and explain the inter-relationships between the different processes and functions you have identified within your organisation
|