User Account

All Pages

What is correct for the journal entry on January

Assignment Help Accounting Basics
Reference no: EM132969865

Problems -

1. On January 1, 2012, AAA company issued $5,000,000, 9% (stated interest rate) bonds for cash $4,695,000. The market interest rate is 10%. Interest is payable annually on December 31. AAA uses the effective-interest method of amortizing bond discount. Under IFRS, what is correct for the journal entry on January 1, 2012?

2. On January 1, 2012, AAA company issued $5,000,000, 9% (stated interest rate) bonds for cash $4,695,000. The market interest rate is 10%. Interest is payable annually on December 31. AAA uses the effective-interest method of amortizing bond discount. What statements are correct regarding the effect of the journal entry on January 1, 2012?

Reference no: EM132969865

Questions Cloud

What are some of whole foods ethical issues : What are some of Whole Foods ethical issues?
What are the differences between data and information : What are the differences between data and information? Support your answer with examples of each.
Identify three existing or potential problems : The edit summary report listing no errors was included in the working papers, Identify three existing or potential problems with way this test was performed
What is a big idea : What is a "Big Idea"? Discuss a time when you came up with your "Big Idea" after looking through your data. What steps did you take to get there? Were you surpr
What is correct for the journal entry on January : AAA uses the effective-interest method of amortizing bond discount. Under IFRS, what is correct for the journal entry on January 1, 2012
What is the prepaid benefit cost to be reported : Fair value of plan assets P37,000,000. What is the prepaid benefit cost to be reported in the December 31, 20x1 statement of financial position
What is the history of amazon and the company purpose : What is the history of Amazon and the company purpose?
When should the revenue be recognized by the entity : When should the revenue be recognized by the entity? A major customer has placed an order for a special machine for which it has given a deposit.
What is net dollar sales projection for year : Dodge Ball Bearings had sales of 16,000 units at $50 per unit last year. The marketing manager projects a 35 percent increase in unit volume sales this year wit

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