Range Company issues $400,000, 20-year, 7% bonds at 101. Prepare the journal entry to record the sale

Question:

Range Company issues $400,000, 20-year, 7% bonds at 101. Prepare the journal entry to record the sale of these bonds on June 1, 2014.

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

Step by Step Answer:

Related Book For book-img-for-question

Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

See More Books

Question Posted: Apr 07, 2014 11:07 AM

See More Questions

Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0.50 par value common stock assuming the shares sell for: a. $0.50 cash per share. b. $2 cash per share.
Prepare the journal entry to record Selectist Companys issuance of 104,000 shares of no-par value common stock assuming the shares: a. Sell for $15 cash per share. b. Are exchanged for land valued at...
C. The breaking strength of 80 "test pieces" of a certain alloy is given in the following table, the unit being given to the nearest thousand grams per square inch. Breaking strength 44-46 46-48...
Canton Company makes two types of cell phones. Handy is a thin, pocket-size cell phone that is easy to carry around. Action is a palm-size phone convenient to hold while the user is talking. During...
Prove that (V, W) is a vector space with this addition and scalar multiplication.
When Clover says She was rather wedded to them, (line 65) she is expressing her belief that: A. Cecy was married when she wore pink roses. B. Cecys husband presented her with pink roses on their...
What is bivariate regression?
In the market share analysis of Section 17.1, suppose that we are considering the Markov process associated with the shopping trips of one customer, but we do not know where the customer shopped...
2. (40%) Use the Quartus tools to fill the table for the tristate buffer. tristate buffer a 0 1 Z XU 0 1 en Z X U What is your observation from the resulting table?
Your brother has just started a new job as the Controller of an IESBA restricted audit client. You do not serve on the audit engagement. What steps must you take to ensure your independence is not...
Saddle Inc. issues $300,000, 10-year, 8% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2014.
Rooney Corporation issued 3,000 7%, 5-year, $1,000 bonds dated January 1, 2014, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on...
One of the outcomes of the kinked demand curve is ____________ prices.
Social and ethical Considerations - various social and ethical issues are potentially likely to arise in any ICT project. Provide an overview of the key considerations that management and the project...
the Ricardian model there is absolute specialization and in the Specific Factors Model specialization is incomplete. Explain briefly these contrasting features of the two trade models. b). Explain...
Learned Risk Management or Project Initiation: a)Why Project Management is so important for Marketing projects. What do the project management concepts you have learned about bring to marketing...
List & explain three (3) pre-approach activities you will conduct to familiarize yourself with the company and the person that you are meeting with. From your explanation, it should be clear to me...
regarding the Moral Hazard in the Supply Chain: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0194043 discuss opportunities for systems analysis and design to support the...
Should the lattice energy for Al 2 O 3 be greater or less than the lattice energy for Na2O? By how much? Justify your answers.
Would you use the adjacency matrix structure or the adjacency list structure in each of the following cases? Justify your choice. a. The graph has 10,000 vertices and 20,000 edges, and it is...
The doctrine of substantial performance applies when the breach is material and was made in bad faith. a. True b. False
Tilton Corporation has the following transactions during August of the current year. Indicate (a) The basic analysis (b) The debit-credit analysis illustrated on pages 111-116. Aug. 1 Issues shares...
Transactions made by Mickelson Co. for the month of March are shown below. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation, similar to that...
Boyd Docker has just rented space in a strip mall. In this space, he will open a photography studio, to be called SnapShot! A friend has advised Boyd to set up a double- entry set of accounting...
Zach Ltd. produced the following data for the year 2015 - o Interest Income $4,650,000 o Capital Gain realized $50,000 o Dividend Income from company's 15% ownership in XYZ Ltd. $65,000 o Corporate...
A project requires an increase in net working capital of $150,000 at time 0 that will be recovered at the end of its 10 year life. If the opportunity cost of capital is 8%, what is the effect of NWC...
A firm is 40% financed by debt with a yield-to-maturity of 8.5%. The equity has a beta of 1.3, the market risk premium is 8.4% and the risk-free rate is 3.8%. What is the firm's WACC if the tax rate...

Range Company issues $400,000, 20-year, 7% bonds at 101. Prepare the journal entry to record the sale

Question:

Step by Step Answer:

Cash 400000 X 10...View the full answer

Accounting Tools for Business Decision Making

Students also viewed these Accounting questions