User Account

All Pages

What is the amount of interest cullumber must pay

Assignment Help Financial Accounting
Reference no: EM132792642

Problem 1: Five thousand bonds with a face value of $1000 each, are sold at 113. The entry to record the issuance is

A. Cash $5000000
Premium on Bonds Payable $650000
Bonds Payable $5650000

B. Cash $5650000
Premium on Bonds Payable $650000
Bonds Payable $5000000

C. Cash $5650000
Bonds Payable$5650000

D. Cash $5650000
Discount on Bonds Payable $650000
Bonds Payable $5000000

Problem 2: Cullumber Company received proceeds of $483000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $512000, pay interest annually on December 31, and have a call price of 103. Cullumber uses the straight-line method of amortization. What is the amount of interest Cullumber must pay the bondholders in 2019?

A. $43860
B. $38060
C. $40960
D. $38640

Reference no: EM132792642

Questions Cloud

Identify the thesis the authors propose : 1. Identify the problem to which the authors are responding. 2. Identify the thesis the authors propose.
What amount should clay report as capitalized interest : Total amount of interest incurred by Clay during 2010 was $102,000. What amount should Clay report as capitalized interest at December 31, 2010?
Cross-section and case-control studies : Explain and Discuss the main characteristics, advantages and disadvantages of ecologic, cross-section and case-control studies.
How is wealth different from income : How is wealth different from income? How is it possible to have negative wealth?
What is the amount of interest cullumber must pay : Cullumber uses the straight-line method of amortization. What is the amount of interest Cullumber must pay the bondholders in 2019?
What are your short- and long-term professional goals : What are your short- and long-term professional goals? Do they include moving into a leadership and management position? Transitioning from clinical to.
Why is education called the great equalizer : Why is education called "the great equalizer"?Describe briefly how public education in the U.S. is funded.
What the journal entry to record the information is : A cash register tape shows cash sales of $8200 and sales taxes of $410. The journal entry to record this information is? Sales Taxes Payable $410
Analyzing popular culture influence graphic design : How can popular culture inform your understanding of the next big topic of study in Grapgic Design?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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