Prizes and premium inc sold 1,50000of 9% bond in December 1,2010 the bond had a authorization date

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

Question:

Prizes and premium inc sold 1,50000of 9% bond in December 1,2010 the bond had a authorization date of January 1,2010 and a maturity date of 31, 2012 Interest dates are December 31 and June 30the bonds were sold at 102 1/2.

Record all the journal entries to the bond issue

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Sep 20, 2023 07:50 AM

See More Questions

Comprehensive Capital Assets/Serial Bond Problem. Transaction data related to the City of Chamberss issuance of serial bonds to finance street and park improvements follow. Utilizing worksheets...
The City of Smithville created a Street Improvement Bond Debt Service Fund to be used to retire the bonds issued for the purposes described in Chapter 5 of this cumulative problem, and to pay the...
On July 1, 20X7, the first day of its fiscal year, the City of Taupe issued serial bonds with a face amount of $5,000,000 and having maturities ranging from one to twenty years to make certain street...
A beam of light consisting of two wavelengths, 650 nm and 520 nm, is used to obtain interference fringes in a Young's double-slit experiment. Find the distance of the third bright fringe on the...
Write a business memorandum to your supervisor explaining the difference between the unadjusted amounts and the adjusted amounts in Exhibit 3-10, page 141. Use Accounts Receivable in your...
On July 31, 2025, Keeds Company had a cash balance per books of \$6,140. The statement from Dakota State Bank on that date showed a balance of $\$ 7,690.80$. A comparison of the bank statement with...
What are three categories of funds that fall under the bond mutual fund group?
You are the digital marketing director for High West fashions, a regional clothing company that specializes in custom t-shirts. Your company has decided to launch an online advertising campaign that...
1. The neighbourhood grocery store owned by Raoul needs $22,500 to upgrade its fixtures and coolers. If Raoul contributes $3,000 at the start of every quarter into a fund earning 5.4% compoun...
A four-bit binary number is represented as A3A2A1A0, where A3, A2, A1, and A0 represent the individual bits and A0 is equal to the LSB. Design a logic circuit that will produce a HIGH output whenever...
A senior government executive has spotted a particular location to implement an agricultural project with the aim of improving the lives of the rural poor. However, there is a lack of information...
Rearrage the equation to isolate a . ( a + b / c ) ( d - e ) = f
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recent fiscal year are summarized here: Direct labor cost Manufacturing...
which point is nearest the x-axis P. (-3,4) B. (5,-2) L. (4,5) D. 1-5,3
Olympus Gear, a company specializing in outdoor equipment, faces a challenge. Their division, "Guardian Defense," manufactures protective armor for security personnel. Xena, the division manager,...
You have a restaurant with 45 tables divided into five sections of equal size. You are only open starting at 17:00 Tuesday to Sunday, closing each day at 22:00, with last seating at 21:00. Your track...
< Question 25 of 40 This question: 1 points p MIRR unequal lives. Grady Enterprises is looking at two project opportunities for a parcel of land the company currently owns. The first project is a...
Is that Yelp review real or fake? The article A Framework for Fake Review Detection in Online Consumer Electronics Retailers (Information Processing and Management 2019: 12341244) tested five...
Amy is a calendar-year taxpayer reporting on the cash basis. Please indicate how she should treat the following items for 2012: a. She makes a deductible contribution to an IRA on April 15,...
Karim Depak received a Form 1099-B showing the following stock transactions and basis during 2012: None of the stock is qualified small business stock. Calculate Karim's net capital gain or loss...
Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2012. The truck is not considered a passenger automobile for purposes of the listed property...
Pier10 Inc. entered into a 5-year lease and recorded a right-of-use asset and lease liability of $\$ 88,000$ on January 1, 2020. Pier10 Inc. was aware of the lessor's implicit rate of interest of...
Lessee Company enters into a 6-year finance lease of non-specialized equipment with Lessor Company on January 1,2020 . Lessee has agreed to pay $\$ 28,000$ annually beginning immediately on January...
Frontier Inc. enters into an 8 -year lease contract to lease equipment with a useful life of 8 years. Annual lease payments are due with the first payment made immediately on January 1, 2020, the...

Prizes and premium inc sold 1,50000of 9% bond in December 1,2010 the bond had a authorization date

Question:

Expert Answer:

1 At the time of Bond Issuance on December 1 2010 Debit Cash 150 bonds 1000 1025 153750 Credi... View the full answer

Income Tax Fundamentals 2013

Students also viewed these accounting questions