Unamortized discount on the bonds

Assignment Help Accounting Basics
Reference no: EM13146920

On July 1, 2010, an interest payment date, $60,000 of Parks Co. bonds were converted into 1,200 shares of Parks Co. common stock, each having a par value of $45 and a market value of $54. There is $2,400 unamortized discount on the bonds. Using the book value method, Parks would record

Reference no: EM13146920

Questions Cloud

Compute the amount of energy released in the formation : Calculate the amount of energy released in the formation of one mole of BaSe bonds (not lattice energy).
What would you expect to occur in the suv market : Buyers consider gasoline and SUV to be complements. If gasoline price increases, what would you expect to occur in the SUV market?
Statement regarding the intercompany sale of land : Which of the following statements is true regarding an intercompany sale of land?
How many grams of co2 are formed : CH4 + 2 O2-> CO2 + 2 H2O How many grams of CO2 are formed from the combustion of 9.00 moles of methane, CH4, in oxygen?
Unamortized discount on the bonds : On July 1, 2010, an interest payment date, $60,000 of Parks Co. bonds were converted into 1,200 shares of Parks Co. common stock, each having a par value of $45 and a market value of $54. There is $2,400 unamortized discount on the bonds. Using th..
Identify the common themes of metabolism : Identify the common themes of metabolism and relate them to the common themes of cell and molecular biology. How does cellular metabolism support the cell theory?
Is this population in hardy-weinberg equilibrium? explain : Calculate the allele frequencies and the expected Hardy-Weinberg genotypic frequencies.
Presume that the total volume is the sum of the individual : If the solution has the same density and specific heat as water, what is ?H for this reaction (per mole of H2O produced)? Assume that the total volume is the sum of the individual volumes.
How many square miles of kelp are there in the world : How many square miles of kelp are there in the world? Approximately how many tons of kelp are there in the world?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining bond issue cost amortization

Wasserman uses the straight-line method to amortize bond issue costs. Prepare the December 31, 2011, entry to record 2011 bond issue cost amortization

  Discuss the ethical and professional conduct of joshua thorp

Joshua Thorp opened Laser Co. on January 1, 2011. At the end of the first year, the business needed additional funds. On behalf of Laser, Joshua applied to Vermont National Bank for a loan of $500,000. Based on Laser financial statements, which ha..

  Method-technique and findings of an audit

Research and locate a company who was audited by an outside source and explain the method, technique, and findings of an audit.

  What procedures might the engagement team suggest

If the audit engagement team determines that the scope of the investigation is not sufficient to support the preliminary conclusions reached, what additional procedures or inquiries might the engagement team suggest?

  Assist management in computing possible damages

What accounting and other information could you look at to assist management in computing possible damages?

  What are the three classifications of funds

The two questions listed below are from the 15 edition, Wilson. Accounting for government and nonprofit entities.

  Evaluate how much accountability for ais security

As a senior manager of your information technology group, discuss how you would demonstrate, by example, the importance of security and then propose a method for creating a "security aware" culture. Provide specific examples to support your respon..

  What was the amount of hanson''s cost of goods sold

Hanson Company uses a periodic inventory system. For 2012, its beginning inventory was $74,000; purchases of inventory were $328,000; and inventory at the end of the period was $89,000. What was the amount of Hanson's cost of goods sold for 2012?

  Number of equivalent units of production

If Department K had 2,000 units, 45% completed, in process at the beginning of the period, 12,000 units were completed during the period, and 1,200 units were 40% completed at the end of the period, what was the number of equivalent units of produ..

  How much is included in keith gross estate based on

At the time of his death on June 6, 2011 Keith was involved in the following real estate.

  Breakeven point in units

Fairfield company management has budgeted the following amoumts for its next fiscal year total fixed expenses 832,500, sale price per unit 40, variable expenses per unit25 what will happen to the breakeven point in units if fairfield can reduce fi..

  What transfer price should be set for pepsi

PepsiCo sells Pepsi Cola to non-PepsiCo restaurants at $0.53 per gallon. This is the market price of Pepsi-Cola. Pepsi-Cola's variable manufacturing cost is $0.09 per gallon and its total (fixed and variable) manufacturing cost is $0.22 per gallon..

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