M. Nickles Company issued $1,500,000 of bonds for $1,487,200. Interest is paid semiannually. Required: 1. Prepare the
Question:
Required:
1. Prepare the necessary journal entry to record the issuance of the bonds.
2. Is the yield greater or less than the stated rate? How do you know?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
Journal Date Account and Explanation Debit Credit 1 Cash 1487200 Di...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
M. Nickles Company issued $700,000 of bonds for $684,780. Interest is paid semiannually. Required: 1. Prepare the necessary journal entry to record the issuance of the bonds. 2. Is the yield greater...
-
1. On Dec 31 2017, ABC Co. has outstanding $500,000 face amount, 9%, 20-year convertible bonds that pay interest semiannually. After semiannual amortization on Dec. 31, 2017, the remaining bond...
-
M. Nickles Company issued $500,000 of bonds for $498,351. Interest is paid semiannually. Required: a. Provide the necessary journal entry to record the issuance of the bonds. b. Is the yield greater...
-
What immediate clinical concerns does this client present to the counselor or therapist? Are there sufficient symptoms presented in the case to make a diagnosis of either stimulant and/or alcohol use...
-
An atom in the state 2P3/2 is located in the external magnetic field of induction B = 1.0kG. In terms of the vector model find the angular precession velocity of the total angular momentum of that...
-
The adiabatic compressor of a refrigeration system compresses saturated R-134a vapor at 0C to 600 kPa and 50C. What is the isentropic efficiency of this compressor? 600 kPa 50C R-134a compressor 0C...
-
What lump-sum amount of interest will be paid on a \($10,000\) loan that was made on 1 June 2011 and repaid on 1 September 2015, with ordinary simple interest at 10% per year?
-
Newgen Products Inc., a wholesaler of office products, was organized on February 20 of the current year, with an authorization of 75,000 shares of 2% preferred stock, $50 par and 400,000 shares of...
-
How can appreciative inquiry methodologies be integrated into change leadership practices to catalyze positive organizational change by leveraging existing strengths and fostering a culture of...
-
Suppose that there are p = 4 quality characteristics, and in correlation form all four variables have variance unity and that all pairwise correlation coefficients are 0.9. The in-control value of...
-
Anne Corp. issued $600,000, 5% bonds. Required: Prepare the necessary journal entries to record the issuance of these bonds assuming the bonds were issued (a) at par, (b) at 102, and (c) at 92.
-
On January 1, 2019, Brock & Co. issued $600,000 of bonds payable at par. The bonds have a 9% stated rate, pay interest on March 31, June 30, September 30, and December 31, and mature on December 31,...
-
Furniture Shop Co. manufactures three types of computer desks. The income statement for the three products and the whole company is shown below: The company produces 1,000 units of each product. The...
-
What are the types of social media platforms available? Identify professional versus non-professional types of social media. Identify a social media platform you use. How often are you on those...
-
When will volume changes cause volatility in the gross profit margin? Explain.
-
How specifically did Sun use recruitment as a strategy for growth? And how she can use recruitment to help her with her future goals for BrightStar? it's from the case "BrightStar Care - The...
-
For both the domestic market and the World_ex Domestic market return series data below, calculate the following historical moments using the full sample period provided: a) Average arithmetic annual...
-
As a financial statement analyst, select two organizations in the same industry and analyze their financial statements over time. The financial analysis period must be, at a minimum, the three most...
-
How many different outcomes are possible for 10 tosses of a coin?
-
Establish identity. cos( + k) = (-1)k cos , k any integer
-
Internal Control Terminology Required: A list of terms and another list of definitions and examples are presented below. Make a list numbered 1 through 7 and match the letter of the most directly...
-
Classifying Internal Control Procedures Required: Match each of the control procedures listed below with the most closely related control procedures type. Your answer should pair each of the numbers...
-
Edward Thompson, a longtime employee of a small grocery wholesaler, is responsible for maintaining the company's cash records and for opening the daily mail, through which the company receives about...
-
1. A clothes dryer rates at 4000 W runs for 1.50 hours each day. it uses utility power at 240 V. how much current does the dryer use? 2. For the clothes dryer in the previous question, how much does...
-
A particle undergoing simple harmonic motion has a potential energy given by E/J=3(y/m) as it oscillates back and forth along the y-axis. When the y-coordinate of the particle is 0.75 m, what is the...
-
A 480-g iron pan is heated on a stove to a temperature of 130 C. The pan is then dropped into a partially-filled sink of water at 20 C. The final temperature reached by the sink and the pan is 40 C....
Study smarter with the SolutionInn App