A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for $1,250,000.

Question:

A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for $1,250,000. Journalize the redemption of the bonds?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 978-1337899451

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

See More Books

Question Posted: May 08, 2017 11:42 AM

See More Questions

An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000. Journalize the redemption of the bonds.
A $1,500,000 bond issue on which there is an unamortized discount of $70,100 is redeemed for $1,455,000. Journalize the redemption of the bonds.
A $500,000 bond issue on which there is an unamortized discount of $50,000 is redeemed for $475,000. Journalize the redemption of the bonds.
Elastic bands are attached to tuning fork 1 ( which was 2 5 6 Hz ) to reduce its frequency. It is sounded again with tuning fork 2 ( 2 5 5 Hz ) , making 1 2 beats in 6 . 0 s . What is the new...
What does operating leverage measure, and how is it computed? Discuss.
Pennys Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first years busiest quarter ended September 30, 2013: a. Placed and paid for $2,600...
Consider the [102] model \[\begin{aligned}d S_{t} & =\mu_{S} S_{t} d t+\sqrt{Y_{t}} S_{t} d B_{t} \\d Y_{t} & =\mu_{Y} Y_{t} d t+\xi Y_{t} d W_{t}\end{aligned}\] The volatility process is...
Jasper Fruits Corporation wholesales peaches and oranges. Barbara Jasper is working with the company's accountant to prepare next year's budget. Ms. Jasper estimates that sales will increase 5...
1. A small company produces a product (X) that requires two types of inputs, A and B during production. Each unit of X requires exactly 5 units of A and 2.5 units of B. If the cost of A is $10 a unit...
1. What type of trust is appropriate for remarried couples such as the Lipmans? How might your answer change if each spouse has sufficient assets to provide for himself or herself independently...
On the first day of the fiscal year, a company issues a $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 8% ), receiving cash of $7,811,873. Journalize the bond...
On January 1, Year 1, Luzak Company issued a $120,000, five-year, 6% installment note to McGee Bank. The note requires annual payments of $28,488, beginning on December 31, Year 1. Journalize the...
What is the book balance of cash?
Do you think that long-run economic growth is simply a matter of having higher wages, and at the same time, having more of the same goods and services, or would you say that it entails other...
The purpose of the interaction diagram is to (a) discover and define the communication between objects (b) discover and define the sequence of interactions between objects (c) discover and define the...
Which of the following is not a step in preparing process models? a. Outline basic process flows b. Define model context c. Refine diagram d. Review BPMN standard e. Validate with stakeholders
What happens to the standard of living if the GDP per capita grows at the rate of seven percent per year? What happens if the GDP per capita grows at the rate of three percent?
What is a component?
From the following trial balance and additional data, complete a worksheet for Jim's Hardware: Additional Data 1. Physical count of inventory on December 31, $615 2. Insurance expired, $150 3....
An access route is being constructed across a field (Figure Q8). Apart from a relatively firm strip of ground alongside the field's longer side AB, the ground is generally marshy. The route can...
Dominos Pizza LLC operates pizza delivery and carryout restaurants. The annual report describes its business as follows: We offer a focused menu of high-quality, value priced pizza with three types...
Josh Reilly is the owner of Dispatch Delivery Service. Recently Josh paid interest of $4,500 on a personal loan of $75,000 that he used to begin the business. Should Dispatch Delivery Service record...
Josh Reilly is the owner of Dispatch Delivery Service. Recently Josh paid interest of $4,500 on a personal loan of $75,000 that he used to begin the business. Should Dispatch Delivery Service record...
Create a C++ program that concatenates 'n' number of strings input by the user, while adhering to the following specifications. Note that the strcat() function cannot be used. 1. The program asks the...
What role do ethnomethodological approaches play in uncovering the underlying norms and assumptions that govern everyday social interactions, and how do these insights inform our understanding of...
Consider f(x) = (x1 + x). Given the iterate xk = [H] and the search direction dk = show that " dk is a descent direction and find the minimizer of min f(xk+adk). a0

A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for $1,250,000.

Question:

Step by Step Answer:

Bonds Payable 120000...View the full answer

Accounting

Students also viewed these Cost Accounting questions