What is the journal entry required to record the issuance

Assignment Help Financial Accounting
Reference no: EM132883213

Problem 1: No Game Corp. issued $6000 in principal of 4.625% 5-year junior notes. Investors paid par to purchase the bonds and $300 in issuance costs were paid directly from the proceeds of the bond sale. What is the journal entry required to record the issuance of the? debt?

Cr. Debt payable -- $5700

Dr. Bond issuance expense -- $300

Cr. Debt payable -- $6000

Dr. Discount on debt payable -- $300

Reference no: EM132883213

Questions Cloud

Which is an example of a tax position taken by a corporation : Which is an example of a tax position taken by a corporation? A decision to record revenue before all performance obligations have been fulfilled.
How has congress sought to limit inmate appeals : How has Congress sought to limit inmate appeals?
Purpose of americans with disabilities act : Describe the provisions of the Norris-LaGuardia Act. Outline the purpose of the Americans with Disabilities Act of 1990.
How specific companies are using the subject : You can earn up to 16 extra credit points by submitting up to two recent (one year or less) examples of how specific companies are using the subject matter of t
What is the journal entry required to record the issuance : No Game Corp. issued $6000 in principal of 4.625% 5-year junior notes. What is the journal entry required to record the issuance of the? debt?
Find organize and contextualize collection : Find, organize, and contextualize a collection of at least 3 credible sources that will help someone explore and better understand your practice area
What is total investment position of mr jay in dollar terms : What is the total investment position of Mr. Jay in dollar terms? Given a margin requirement of 60%, Mr. Jay deposited $30,000 into his margin account
Comprehensive hris essential for transforming hr : Why is the creation of a comprehensive HRIS essential for transforming HR?
Complete picture of hr effectiveness : HR metric: time to fill. Based in Canada. why time to fill does not give a complete picture of HR effectiveness.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd