Prepare the adjusting General Journal entry

Assignment Help Accounting Basics
Reference no: EM132733514

Question - Alpha Company purchased a $1,000, 5 years, 6% bond on July 1, 2019 for $940. Interest is paid semi-annually on June 30 and Dec ember 31. The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the adjusting General Journal entry (without explanation) for the six-months ended December 31, 2019. If no entry is required then write "No Entry Required."

Reference no: EM132733514

Questions Cloud

Illustrate list health care funding methods used in canada : Illustrate List the health care funding methods used in Canada. State health care funding method used in jurisdiction and describe the payroll implication
Selective target for drug treatment : List differences between pathogens (fungi, bacteria, protozoan, etc) that could be a selective target for drug treatment?
Current understanding of microbiology and disease : 1.) How did the scientist's work contribute to our current understanding of microbiology and disease?
What can be inventory for business like a airbnb : What can be inventory for business like a Airbnb (online community platform)? Create the cashflow statement for imaginary company.
Prepare the adjusting General Journal entry : The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the adjusting General Journal entry
Biochemical test result to the identification : Catalase testing produced an absence of bubbling. Identify the most likely genus (and species if you feel more confident) of this unknown organism
Find what is measure that can decrease potential of fraud : Find What is the measure that can decrease the potential of fraud? Reduce the difficulty of committing fraud. /Make fraud most likely to occur.
What is the agglutination test : What is the agglutination test? Why and how it is important to study or carry this out for biology/medicine/industry?
What strategies will you use to stay informed : As a practice scholar, you are aware of the vast amounts of new knowledge available to inform practice. Reflect upon this issue and consider the following.

Reviews

Write a Review

Accounting Basics Questions & Answers

  If a company switches from a traditional costing system to

1. net operating income is affected by changes in production under both variable costing and absorption costing. true

  Calculate Linda allowable itemized deductions for the year

Linda, who files as a single taxpayer, had AGI of $280,000 for 2019. Calculate Linda's allowable itemized deductions for the year

  Record the replenishment of the petty cash fund

On March 20, Terrell's petty cash fund of $149 is replenished, Prepare the journal entry to record the replenishment of the petty cash fund

  Sports pro appropriately changed its depreciation method

Effective January 1, 2010, Sports-Pro appropriately changed the salvage values used in computing depreciation for its office equipment.

  Calculate the present value of the minimum lease payments

ACC204 - Advanced Financial Accounting - Prepare all journal entries necessary to account for the acquisition of the aircraft, and its depreciation, for the year ending 30 June 2014.

  Responsibilities of the foreign firm and the host government

Investment Agreement. An investment agreement spells out specific rights and responsibilities of both the foreign firm and the host government.

  Attributes of the data before deciding on new standards

The average of these credit scores is 580. Why would it be useful for managers of the lender to examine other attributes of the data before deciding on new standards?

  Should product X be processed further or sold

Wexpro, Inc., produces several products from processing 1 ton of clypton, a rare mineral. Should product X be processed further or sold at the split-off point

  How much will you have at the end of ten years

How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?

  Eastern european accounting in the 1990s

Why did Chinese accounting develop differently from Eastern European accounting in the 1990s?

  Advantages of standardizing the marketing mix worldwide

advantages of standardizing the marketing mix worldwide.

  How many units must be sold to meet target operating income

All costs are variable except for $122,940 overhead and $72,640 selling and administrative. How many units must be sold to meet a target operating income

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd