User Account

All Pages

Prepare the journal entries necessary to record issue

Assignment Help Accounting Basics
Reference no: EM132620832

Question - Larkspur, Inc. had outstanding $5,540,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $8,870,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 99. A portion of the proceeds was used to call the 11% bonds (with unamortized discount of $55,400) at 101 on August 1.

Required - Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds.

Reference no: EM132620832

Questions Cloud

Find the production budget will show costs for that period : The standard costs for a manufacturing business are $12 per unit for direct materials, Find the production budget will show costs for that period
Prepare a post-closing trial balance : April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Prepare a post-closing trial balance
Prepare journal entries for duckworth corporation : Prepare journal entries (in general journal form) to record the above transactions. Use a 360-day year in making the interest calculations.
Describe the weighted average cost of capital : Describe the weighted average cost of capital. How do firms use the weighted average cost of capital for decision making?
Prepare the journal entries necessary to record issue : Larkspur, Inc. had outstanding $5,540,000 of 11% bonds, Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds
What suggestions make the use of the financial information : What suggestions do you have for to make the best use of this financial information (i.e., three years of audited income statements, balance sheets)
Strategic philanthropy and locus of control : Pick one of the following terms for your research: Strategic philanthropy, locus of control, ethical culture, ethical awareness, or normative approach.
Calculate the amount of net cash generated : Comparative balance sheet 2018 and 2019, Calculate the amount of net cash generated from operating activities for the year 2019, using the indirect method.
Journal transactions to record the lease : How do prepare the amortization table for 2018 and 2019 and journal these transactions to record the lease, the first lease payment

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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