User Account

All Pages

Prepare the journal entry to record the call of the bonds

Assignment Help Financial Accounting
Reference no: EM131213365

Three years ago American Insulation Corporation issued 10 percent, $950,000, 12-year bonds for $845,000. Debt issue costs were $2,500. American Insulation exercised its call privilege and retired the bonds for $890,000. The corporation uses the straight-line method both to determine interest and to amortize debt issue costs. Required: Prepare the journal entry to record the call of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM131213365

Questions Cloud

Find the response of the first order system : Initialize s and T as symbols. Using Symbolic Math tools, find the response of the first- order system G(s) = k/(Ts + 1), with the step excitation of strength A.
Validity in quantitative research designs : Read the method section of one of the following quasi-experimental studies (also located in this week's Learning Resources). Identify at least one potential concern that could be raised about the study's internal validity.
Definitions vary in proportion to changes in activity levels : Match the following terms with their definitions Vary in proportion to changes in activity levels Remain the same in total dollar amount as the level of activity changes Where a business's revenues exactly equal costs A specific activity range over w..
What is the voltage across and the current : What is the voltage across and the current through each parallel resistor if the total voltage is 12 V and the total resistance is 550 Ω? There are four resistors, all of equal value.
Prepare the journal entry to record the call of the bonds : Three years ago American Insulation Corporation issued 10 percent, $950,000, 12-year bonds for $845,000. Debt issue costs were $2,500. American Insulation exercised its call privilege and retired the bonds for $890,000. Prepare the journal entry to r..
Identify answers to questions you have raised about issue : Explain what you have discovered about the issue from the debate and from the resources you located for this discussion. Identify answers to questions you have raised about the issue.
What were the chief characteristics of the civilization : What were the chief characteristics of the civilization that you selected? How did the civilization change/evolve over time? What accounted for these changes?
What is the value of the current into the junction : The following currents are measured in the same direction in a three-branch parallel circuit: 250 mA, 300 mA, and 800 mA. What is the value of the current into the junction of these three branches?
Value of truth in a democracy or republic : How can restricting access to information be squared with freedom of speech and the value of truth in a democracy or republic?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare a balance sheet as of april 30

Prepare a statement of owners equity for April - The statement of owner's equity for a proprietorship is similar to the retained earnings statement for a corporation.

  Prepare the statement of stockholders equity

Prepare the income statement, statement of stockholders' equity, statement of cash flows, balance sheet; all in proper form You have the option of preparing a statement

  An enterprise that holds a variable interest in variable

an enterprise that holds a variable interest in variable interest entity is required to consolidate assets liabilities

  Question as a new intern for the local branch office of a

question as a new intern for the local branch office of a national brokerage firm you are excited to obtain an

  How do spreadsheets aid application of sensitivity analysis

How do Spreadsheets aid the application of sensitivity analysis? Is budgeting an unnecessary burden for day to day problems? Explain your answer.

  Shingle enterprises is considering developed a new product

shingle enterprises is considering developed a new product. it projects the cost of direct materials and rent for a

  Accounts for the stockholders equity accounts listed

Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 2016, are as follows: Common stock, $20 stated value; 500,000 shares authorized, 399,000 issued $7,980,0..

  Explain the type of information in the annual report

Base on best buy 10-K form and other sourse to answer following question. Explain the type of information in the annual report that will be used and analyzed by creditors and investors, How will the objectives of these two groups differ?

  Selecting a for-profit organization of interest you will

selecting a for-profit organization of interest you will research an unusual or conflicting accounting principle that

  In calculating the materials price variance

In calculating the materials price variance which of the following is used

  What method does tootsie roll use to value its inventory

What method does Tootsie Roll use to value its inventory? What is the amount of the receivables Tootsie Roll expects to collect (this is termed the net realizable value)?

  How much was invested in each account

Maria invested $5500 in two mutual funds. One fund earned an 8% profit, while the other earned a 1.5% profit. Between the two accounts, Maria made a profit of $180. How much was invested in each account?

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