User Account

All Pages

Prepare pronghorn journal entries for purchase of investment

Assignment Help Accounting Basics
Reference no: EM131706071

Question - Pronghorn Corporation purchased, as a held-to-maturity investment, $55,000 of the 8%, 4-year bonds of Harrison, Inc. for $58,861, which provides a 6% return. The bonds pay interest semiannually.

Prepare Pronghorn's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. Assume effective-interest amortization is used.

Reference no: EM131706071

Questions Cloud

Explain diversity and merit in appointment of federal judges : Write argument essay, putting into use your critical thinking skills of analysis, debate between diversity and merit in appointment of Federal judges in Canada.
Review case for the maryland department of social services : Keller worked for the Maryland Department of Social Services. She sued both the department and the state after she was denied promotion to case worker.
Describe goals for the client based on presenting problem : Identify the case you will be using for the final project. Describe the presenting problems. Describe 2 goals for the client based on their presenting problem.
Define working with older people in community-based setting : Discuss a theory in SOCIAL THEORIES OF AGING that could provide you with useful guidelines for working with older people in a community-based setting
Prepare pronghorn journal entries for purchase of investment : Prepare Pronghorn's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization
Does phillips have a claim under the adea : Watkins Co. was looking to hire an administrative secretary, and after viewing the applications of various candidates, selected two applicants for personal.
Does kentucky pension system violate the adea : Kentucky's state pension system requires that police officers who are disabled after reaching the age of fifty-five to retire and receive normal retirement.
Discuss the family and medical leave act : Discuss the Family and Medical Leave Act. In what ways has FMLA reduced the stresses of informal caregiving
Analyze the process of assigning and allocating costs : Analyze the process of assigning and allocating costs. Compare and contrast Just-In-Time and Quality Management Systems

Reviews

Write a Review

Accounting Basics Questions & Answers

  What should trump report on its 2012 income statement

The fair market value of the two securities were $15,000 (AFS) and $10,000 (trading), respectively. What should Trump report on its 2012 income statement as a result of the increase in fair value of the investments

  What are consolidated financial statements

What are consolidated financial statements and what do they attempt to accomplish?

  Armstrong employs a plantwide fixed overhead rate in its

armstrong company manufactures three models of paper shredders including the waste container which serves as the base.

  Discuss the short term credit risk of the company

discuss the short term credit risk of the company

  Criminal fraud versus civil fraud and taxation

Imagine a situation in which a client under audit by the IRS omitted $100,000 in income. From the e-Activity, examine the major factors relative to the omission by the client that would result in a criminal investigation, rather than a civil fraud..

  Limitations of the internal control system

Identify the limitations of the internal control system. Provide at least 3 limitations. Provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.

  What is fica for daniels and kingston

What is FICA for Daniels and Kingston?

  In your research you found significant conflicting issues

in your research you found significant conflicting issues between global reporting standards. these affect every audit

  Compute the price of 7705595 recieved for the bonds by

on july 1 2010 brower industries issues 8000000 of 5-year 11 bonds at an effective interest rate of 12 receiving

  Improvement by reducing the standard costs

In order to achieve a 25% multifactor productivity improvement by reducing the standard costs, how much should these costs be reduced?

  Earl generated a tentative general business credit of28000

earl generated a tentative general business credit of28000 for the current year. his net regular tax liability

  Prepare an income statement-instockholders equity

Prepare an income statement, statement of changes instockholders' equity, balance sheet, and statement of cashflows

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