User Account

All Pages

Stocks, Bonds, Dividends, Accounting Basics

Assignment Help:
Please help journalize:
-On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700.
-On January 1, 2017 Harmony also issued 2,000 shares of common stock for $54,000.
-On Jan. 1 Harmony issued $80,000, 6%, 5 year bonds when the market rate was 7% . Interest is to be paid annually on each Jan. 1 beginning one year from date of issue.
-Harmony reaquired 500 shares of its common stock on Sep 19, 2017 for $39 per share.
-On Dec 31, Harmony declared the annual preferred dividend and a $1.75 per share dividend on outstanding common stock, all payable in cash on Jan 20, 2018.
-Harmony estimates that the total amount of accounts receivable that is uncollected at a year end is $1,904.
-The building is being depreciated using the straight line method over 20 years. The salvage value is $22,500.
-The equipment is being depreciated using the straight line method over 5 years. The salvage value is $13,500.
-The unearned rent was collected on Sep. 1 2017. It was receipt of 5 months'' rent in advance (Sep 1 2017 through Jan 31, 2018).
-The annual interest on bonds for 2017 has not been recorded. Harmony uses the effective interest method.
-The Harmony corporation must make an adjusting entry to accrue income tax expense on income before income tax at a rate of 29%. The income taxes will not be paid until March 28, 2018.

Related Discussions:- Stocks, Bonds, Dividends

On december 31, On December 31, 2013, a company issues bonds with a par val...

On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon

Accounting standard scop, Scop of accounting

Scop of accounting

What are the elements of accounting assests, What are the elements of accou...

What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g

Example of lower-of-cost-or-market method, Q. Example of lower-of-cost-or-m...

Q. Example of lower-of-cost-or-market method? A company may perhaps apply LCM to each inventory item such as Monopoly each inventory class (such as games) or total inventory. T

Uses of accounting, uses of accounting as a software enginner

uses of accounting as a software enginner

Accounting system in india.., procedure followed in government system of ac...

procedure followed in government system of accounting in india

Social media, kind of information you would want to put on social media

kind of information you would want to put on social media

Define non-operating revenues, Q. Define Non-operating revenues? Non-op...

Q. Define Non-operating revenues? Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of pro

Example of physical inventory, Q. Example of physical inventory? Taking...

Q. Example of physical inventory? Taking a physical inventory may perhaps disrupt the normal operations of a business. Therefore the count should be administered as quickly and

AL MASA a sole trader, AL MASA a sole trader,decided to install a new machi...

AL MASA a sole trader,decided to install a new machine to use

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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