Record the journal entries for first interest payment due

Assignment Help Accounting Basics
Reference no: EM131767387

On April 1, 2016 Alpha Company sells $1,000,000 face value of 10% five year bonds which call for semiannual interest payments. The bonds are dated April 1, 2016 so these bonds are issued on an interest date. The market rate at the date of issue is 8%. Use the straight line method of amortization of any bond premium or discount. For simplicity, use a 360-day year and 30 day months for all calculations.

Record the journal entries for the issuance of the bonds

Record the journal entries for the first interest payment due on October 1, 2016. Assume that interest has not been accrued at each month end.

I have attached the answer sheet format I am looking for.

Answers as soon as possible are helpful. I would like in one hour from now, please.

Reference no: EM131767387

Questions Cloud

A perpetual inventory system, the merchandise inventory : Under FIFO, costs flow through the company as if the oldest goods were the first goods sold.
Earning an accounting profit : Continue on with production because you are earning an accounting profit.
How jazz rap reflect social goal of african american culture : How does jazz rap reflect the social goals of the African American culture? How do the innovators and/or exponents contribute to the style?
What specific steps that you are going to take going forward : What concerns you have about discussing intercultural matters (conflicts or otherwise) openly? What specific steps that you are going to take going forward.
Record the journal entries for first interest payment due : Record the journal entries for the first interest payment due, Use the straight line method of amortization of any bond premium or discount
Height of the second spike electrical response : Do these data provide convincing evidence that DDT affects the mean relative height of the second spike's electrical response?
A research paper that focuses on a potential practicum : The project should focus on the background of the public health issue, essential services of public health, purpose of addressing this issue.
What is the benefits of large country and small country : Small country: A country in which import demand is larger than domestic demand. So what is the benefits of large country and small country?
Calculate the decrease in company profits : Calculate the decrease in company profits if Product A is dropped. Do not use decimals ortype the word decrease

Reviews

Write a Review

Accounting Basics Questions & Answers

  A new bank has vault cash of 1 million and 5 million in

a new bank has vault cash of 1 million and 5 million in deposits held at it federal reserve district bank. a. if the

  Prepare a sales budget for the la babycakes store

Prepare a sales budget for the LA Babycakes store for the 4th quarter of 2016. Present the number of units, sales price, and total sales for each month.

  Terrier repair service accepted the sellers counteroffer

On November 23, Terrier Repair Service extended an offer of $40,000 for land that had been priced for sale at $48,500. On December 2, Terrier Repair Service accepted the seller's counteroffer of $44,000.

  Alamo inc had 600 million in taxable income for the current

alamo inc. had 600 million in taxable income for the current year. alamo also had an increase in deferred tax assets of

  Assume that pp is considering changing from its original

assume that pp is considering changing from its original capital structure to a new capital structure with 35 debt and

  Proper disclosures in the stockholders equity section

Show the proper disclosures in the stockholders' equity section of the balance sheet issued at the end of the first quarter, March 31, 2013. Assume net income of $100000 during the first quarter.

  How should clyde treat payment on his tax return

This is a tax research problem - Clyde had work for many years as the chief executive of Red Industries, and had also been a major shareholder. Clyde and the company had a falling out, and Clyde was terminated.

  Cost volume profit analysis case

You are a consultant with Cox Consultancy. You have a client, Grace that has hired you to advise her on some production decisions relating to her chocolate business and compensation schemes relating to her ice-cream maker business.

  Kevin and bob have owned and operated soa as a c

kevin and bob have owned and operated soa as a c corporation for a number of years. when they formed the entity kevin

  Independent auditor claim regarding polaris financial

Access the SEC EDGAR database (www.sec.gov) and retrieve Polaris 2011 10-K (filed February 27, 2012).

  Remit the state sales tax amount to indiana

A. The buffalo wildcats, a minor league football team, received $3000 from a fan on June 1 for 2013 season tickets. The wildcats play 10 home games. on December, 2013, the end of the fiscal year, the wildcats had played 6 home games. make the origina..

  The canton movie theatre is considering selling its old

the canton movie theatre is considering selling its old popcorn machine and replacing it with a newer one. the old

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