On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for
Question:
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semiannually. What is the journal entry to record the issuance of the bonds?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
Solution Foxcroft Inc Journal Entries Date Particulars ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semi-annually. What is the journal entry to record the...
-
The board of directors of Calmont, LLC, authorized the issuance of $600,000 face value, 20-year, 6 percent bonds, dated March 1, 2019, and maturing on March 1, 2039. Interest is payable semiannually...
-
Match the following with the correct answer. Study of heat change in chemical reactions is called Types of systems are When heat has to be supplied to the system by surrounding is known as Milk kept...
-
In 2022, Tornado Ltd. had average inventory of $92000. The 2022 income statement showed net sales of $2100000 and gross profit of $428000. In 2021, it was taking the company approximately 30 days to...
-
In each of the following cases, determine the corporations that comprise an affiliated group. All corporations are includible corporations and have one class of stock unless otherwise indicated. a. P...
-
List four new applications of the temptation stable analysis pattern.
-
The channel in Fig. P10.48 has two floodplains as shown. Find the discharge if the center channel is lined with brick and the two floodplains are lined with cobblestones. The slope \(S_{0}\) is...
-
1. Go to www.dol.gov/regs/fedreg/notices/2006005457.pdf. Go to page 35120 and find the section with the title Final Voluntary Guidelines-Voluntary Guidelines for Self-Evaluation of Compensation...
-
2. Does the surveillance camera present any ethical or legal problems? Why or why not? 3. Explain any other legal issues regarding employee or employer rights that might apply. 4. Do you think the...
-
You designed the new database for City Jail. Now you need to create all the tables for the database. First, create all the tables using the information outlined in Section A. Second, make the...
-
Willoughby Inc. issued 100 bonds with a face value of $1,000 and a stated rate of 4% and received $105,000. What is the journal entry to record the sale of the bonds?
-
In the amortization table, how is the amortization of discount of premium computed?
-
Distinguish between operating profit and net profit.
-
Describe some of the ways in which BIM is changing how projects are managed.
-
What factors should voters consider in deciding if a prosecutor should be reelected?
-
The construction schedule is the only project document that fully communicates the contractor's intentions for delivering the contracted scope of services over the full course of the project...
-
A construction contract differs from contracts that we generally deal with that focus on an easily defined physical object because the physical object can be examined. How is the object of a...
-
Many contracts require that the contractor prepare and present the construction schedule and receive the owner's approval before any contract payments are made. What are the three elements of the...
-
Using the same public organization as in Question 1, discuss the similarities between collective bargaining in this organization and a typical negotiation between a private company and its union?
-
Suppose a population of bacteria doubles every hour, but that 1.0 x 106 individuals are removed before reproduction to be converted into valuable biological by-products. Suppose the population begins...
-
Consider two projects, A and B. Project As first cash flow is $7,000 and is received three years from today. Future cash flows for Project A grow by 3 percent in perpetuity. Project Bs first cash...
-
Binomial Corp. has a project with the following cash flows: YEAR.........................................CASH FLOW 0.....................................................$50,000...
-
Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the companys geologist, has just finished his analysis of the mine site. He has estimated...
-
Milden Company is a merchandiser that plans to sell 4 1 , 0 0 0 units during the next quarter at a selling price of $ 5 9 per unit. The company also gathered the following cost estimates for the next...
-
How do organizational learning theories, such as the learning organization concept and knowledge management practices, contribute to sustained competitive advantage and organizational resilience in...
-
Harbert, Incorporated had a beginning balance of $12,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $10,500. During the period, Harbert collects $72,000 of its...
Study smarter with the SolutionInn App