User Account

All Pages

Prepare the journal entry to record the interest payment

Assignment Help Accounting Basics
Reference no: EM132161527

Question - Subway issued $100,000 of 7% bonds on January 1, 2011. The bonds were issued at par and pay interest on June 30 and December 31 of each year. By December 31, 2015, the market rate of interest had increased, and Clear Water was able to reacquire and retire the bonds for $97,500, plus accrued interest. Prepare the journal entry to record the interest payment and bond retirement on December 31, 2015.

Reference no: EM132161527

Questions Cloud

Obtain an output with a one-sample t-test : Statistics play an important role in global management. With SPSS, comparison of means analyses can be conducted, and thus assess performance
Discuss the advantages and disadvantages of competency : Discuss the advantages and disadvantages of competency- or skill-based pay systems.
Why is emerging adulthood a thing : In your text you've read about the transition period between adolescence and adulthood. Arnett coined the term "emerging adulthood".
Penetration pricing and skimming pricing : Describe the difference between penetration pricing and skimming pricing.
Prepare the journal entry to record the interest payment : Subway issued $100,000 of 7% bonds on January 1, 2011. Prepare the journal entry to record the interest payment and bond retirement on December 31, 2015
Overestimating the economic impact of sport event : What are some of the causes of overestimating the economic impact of sport event? Of underestimating?
Do you think the restaurants should be held accountable : Given that fast food and chain restaurants sell food items that single-handedly can exceed the recommended daily intake of fat, calories, sodium.
Impact far beyond firm boundaries : Multinational enterprises (MNEs) have an impact far beyond their firm boundaries. Assume you are working for a small firm that supplies a product or service
Shortcomings in effective communication stemming : Do you all see these shortcomings in effective communication stemming from the environment being sometimes too "hurried",

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