Assume the same information as in IFRS14-5, except that the bonds were issued at 84.95 to yield
Question:
Assume the same information as in IFRS14-5, except that the bonds were issued at 84.95 to yield 12%. Prepare the journal entries to record (a) the issuance of the bonds, (b) the payment of interest and related amortization on July 1, 2014, and (c) the accrual of interest and the related amortization on December 31, 2014. (Round to the nearest dollar.)
Step by Step Answer:
a Debit Bonds Payable 9000000 Credit Cash 8495000 ...View the full answer
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
Assume the same information as in E17-19B for Thomlin Company. In addition, assume that the investment in the Tiger Inc. stock was sold during 2015 for $278,000. At December 31, 2015, the following...
-
Assume the same information as in E1412. Minor Inc. sells 10% bonds having a maturity value of $3 million for $2,783,724. The bonds are dated January 1, 2011, and mature on January 1, 2016. Interest...
-
Assume the same information as in BE8-9. Young Inc.'s financial difficulties are over. On June 4, 2014, Perry Co. receives a payment in full of $5,500 from Young Inc. Record this transaction.
-
Consider a low-pass signal with a bandwidth of 3 kHz. A linear delta modulation system, with step size = 0.1V, is used to process this signal at a sampling rate ten times the Nyquist rate. (a)...
-
a. What is a sample space? b. Is there anything random or uncertain about a sample space?
-
Determine the force in members GF, FC, and CD of the cantilever truss. State if the members are in tension or compression. Assume all members are pin connected. 12 kN 12 kN 3 m 12 kN -2 m -2 m -2 m
-
Why may capital inflows damage the international competitiveness of a country's businesses?
-
Richard Gibbs began a business called Richard's Shoe Repair. 1. Create T accounts for Cash; Supplies; Richard Gibbs, Capital; and Utilities Expense. Identify the following transactions by letter and...
-
this is my webclient.py this is my webserver.py I keep running it but none of the information will show up when I run wireshark. Is something wrong with my code? This is what I'm supposed to create. ...
-
Use the (a) Euler and (b) Heun (without iteration) methods to solve d2y/dt2 0.5t + y = 0 where y(0) = 2 and y(0) = 0. Solve from x = 0 to 4 using h = 0.1. Compare the methods by plotting the...
-
Foreman Company issued $800,000 of 10%, 20-year bonds on January 1, 2014, at 119.792 to yield 8%. Interest is payable semiannually on July 1 and January 1. Prepare the journal entries to record (a)...
-
Wie Company has been operating for just 2 years, producing specialty golf equipment for women golfers. To date, the company has been able to finance its successful operations with investments from...
-
Show that the complement Ac of the set A of (pointwise) convergence of a sequence of r.v.s {Xn}, n ( 1, is expressed as follows: Ac = {(((; limn( inf Xn(() ( r r,s
-
15. Consider the following pseudocode. x := 1;| i := 1; while (x1000) begin X3 2x; + 1; end; What is the value of i at the end of the pseudocode? a. 4 b. 5 c. 6 d. 7 e. 8
-
Exercise 1 Customers go to physical ABC Bank to do 2 main jobs; withdraw or deposit money. A cashier will help customers in these 2 jobs. Before withdrawing, the cashier needs to check the customer's...
-
The following costs were incurred in May. Direct materials. Direct labor Manufacturing overhead Selling expenses Administrative expenses Prime costs during the month totaled: $39,100 $30,400 $18,000...
-
3. Consider the following BNF: A ::= 0 B | 0 MI OB M 0 ::= "w" | "x" | "s" | "m" ::= "i" | "f" | "c" | "r" M ::= "o" | "t" | "p" | "a" | "h" B (a) How many nonterminal symbols are in the grammar? (b)...
-
3 Assume that at the beginning of the year, you purchase an investment for $5,450 that pays $76 annual income. Also assume that the investment's value has decreased to $5,250 at the end of the year....
-
What is digital video?
-
Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.
-
Following are selected statement of financial position accounts of Sander Bros. Corp. at December 31, 2012 and 2011, and the increases or decreases in each account from 2011 to 2012. Also presented...
-
Following are selected statement of financial position accounts of Sander Bros. Corp. at December 31, 2012 and 2011, and the increases or decreases in each account from 2011 to 2012. Also presented...
-
As part of the year-end accounting process for your company, you are preparing the statement of cash flows according to IFRS. One of your team, a finance major, believes the statement should be...
-
What type of communication is happening when technology is used to send messages to a large, mixed audience? Discuss
-
Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as...
-
(b) Assuming that sales revenue increases by 10% (due to a 10% increase in the number of units sold), prepare a single-column CVP income statement for each company. Sales Revenue Variable Costs...
Study smarter with the SolutionInn App