On March 21, 2019, the bond accounts of Pet Supplies Sales showed the following balances. Premium...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On March 21, 2019, the bond accounts of Pet Supplies Sales showed the following balances. Premium on Bonds Payable Bonds Payable 65,000 3,250 Pet Supplies Sales retires the bonds for $66,150. Prepare the journal entry to record the retirement of the bonds. Omit explanation. (4 points) On March 21, 2019, the bond accounts of Pet Supplies Sales showed the following balances. Premium on Bonds Payable Bonds Payable 65,000 3,250 Pet Supplies Sales retires the bonds for $66,150. Prepare the journal entry to record the retirement of the bonds. Omit explanation. (4 points)
Expert Answer:
Answer rating: 100% (QA)
The journal entry to record the retirement of the bonds is as follows ... View the full answer
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Posted Date:
Students also viewed these accounting questions
-
Read ALL instructions before getting started! ABC Corporation is a new company that buys and sells office supplies. Business began on January 1, 2012. Given on the first two tabs are ABC's 12/31/12...
-
On January 1, 2019, Lin plc issued a convertible bond with a par value of £50,000 in the market for £60,000. The bonds are convertible into 6,000 ordinary shares of £1 per share par...
-
The balance sheet of Adams Pharmacy after the revenue, expense, and partners' drawing accounts have been closed on December 31, 2016, follows: On that date, Larry Adams, Hazel Adams, and Isiah Adams...
-
WiCom Servicing completed these transactions during November 2020, its first month of operations: Required 1. Prepare journal entries to record the transactions. Use general journal page 1. 2. Set up...
-
Predict the products of the following acid-base reactions. If the equilibrium would not result in the formation of appreciable amounts of products, you should so indicate. In each case label the...
-
The population of Tokyo grew at the rate shown in Figure 5.74. Estimate the change in population between 1970 and 1990. rate of growth (million/year) 0.5 1970 Figure 5.74 P' (t) 1990 t (years)
-
Independent random samples selected from two normal populations produced the sample means and standard deviations shown below: Sample 1 Sample 2 a. The test H,,: (p, - p2) = 0 against Ha: (p, - p2) f...
-
MVP Sports Equipment Company is considering an investment in one of two machines. The sewing machine will increase productivity from sewing 150 baseballs per hour to sewing 270 per hour. The...
-
Create an income statement for the year 2020. \begin{tabular}{|l|r|r|} \hline Accounts & 2021 & 2020 \\ \hline Accounts Payable & $1,500,000 & $2,500,000 \\ \hline Accounts Receivable & 1,753,000 &...
-
Martha Millon, financial manager for Fish & Chips Inc., has been asked to perform a lease-versus-buy analysis on a new computer system. The computer system has an after-tax cost of $975,000, and if...
-
For the figure shown below, determine the moment of the force F about an axis extending between points D and C. Express the result as a cartesian vector and show its unit. (Use F=200 kN) x Z 2 m A B...
-
For a continuous uniform distribution with u = 0 and o = 1, the minimum is - V3 and the maximum is V3. For this continuous uniform distribution, find the probability of randomly selecting a value...
-
Marc Goudreau, administrator of Clearwater Hospital, was puzzled by the prior month's reports. "Every month, it's anyone's guess whether the lab will show a profit or a loss. Perhaps the only answer...
-
A system consisting of a gas consisting of O2 (32 Da), H2 (2 Da), and Ar (40 Da) molecules and a billiard ball is at some temperature . Relative to O2, the billiard ball is 1.0 E+26 times as massive...
-
Low Desert Pottery works makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to...
-
ASSESSMENT CPCCBC5002A Monitor costing systems on medium rise building and construction projects Please provide answer to Part 2 - Monitor expenditure for a medium-rise project as per below...
-
solve part c for me F Question 3 Product line Analysis (29 marks) The owners of Mountain Sports Ltd. are currently reviewing a proposal to adopt a new product line-BMX Bicycles. This new product line...
-
Calculate the change in entropy when 100 kJ of energy is transferred reversibly and isothermally as heat to a large block of copper at (i) 0 C, (ii) 50 C.
-
The county collector of Sun coast County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated...
-
Identify the fund balance classifications and give an example of what might be included in each classification identified.
-
The following information (presented in thousands) is available for the Cumberland County Utility Enterprise Fund during the current year: 1. The beginning balance for cash and cash equivalents was...
-
What notations are entered into the Posting Reference column of a ledger account? AppendixLO1
-
Refer to Exercise E-1 and for each of the March transactions identify the journal in which it would be recorded. Assume the company uses a sales journal, purchases journal, cash receipts journal,...
-
Prepare headings for a sales journal like the one in Exhibit E-A.1. Journalize the March transactions shown in Exercise E-1 that should be recorded in the sales journal assuming that the periodic...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App