Question: Pronghorn Corp issues 5300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 101. The journal entry to record the issuance will show a credit

Pronghorn Corp issues 5300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 101. The journal entry to record the issuance will show a credit to Cash for $5353000 O credit to Bonds Payable for $5300000 debit to Premium on Bonds Payable for $53000 O debit to Cash of $5300000 The following information was taken from Tamarisk, Inc. cash budget for the month of April Beginning cash balance Cash receipts Cash disbursements Depreciation $125000 112000 141000 27500 If the company has a policy of maintaining an end of the month cash balance of $104000, the amount the company would have to borrow's $0. $29000 $120000 $8000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The CPI-U for Americans 62 years of age and older (some of your professors and some of your authors are interested in this!) present the following annual inflation rates in percent: YearRate %...

Pronghorn Corp issues 930, 10-year, 8%, $1000 bonds dated January 1, 2017, at 96. The journal entry to record the issuance will show a debit to Cash for $892800. credit to Discount on Bonds Payable...

Question 8 of 20 View Policies Current Attempt in Progress a Martinez Corp. issues 880, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show O...

4:The adjusted trial balance for Swifty Corporation at the end of the current year, 2020, contained the following accounts. 5-year Bonds Payable 8% $1550000 Interest Payable 51800 Premium on Bonds...

1: Marigold Corp. issues 6200, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a debit to Cash of $6200000. credit to Cash for $6386000....

Concord Corporationhad the following transactions during 2022: 1. Issued $212500 of par value common stock for cash. 2. Recorded and paid wages expense of $102000, 3. Acquired land by issuing common...

answer both questions and just the answers Question 8 Blue Spruce Corp. Issues 4100, 10-year, 8%, $1000 bonds dated January 1, 2020, at 95. The journal entry to record the issuance will show a O...

Multiple Choice Question 161 Ayayai Corp. issues 6300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 97. The journal entry to record the issuance will show a debit to Discount on Bonds Payable...

answer both questions and just the answers Multiple Choice Question 160 Monty Corp. issues 890, 10-year, 8%, $1000 bonds dated January 1, 2020, at 94. The journal entry to record the issuance will...

What will it show? View Policies Current Attempt in Progress Cheyenne Corp. issues 4400, 10-year, 8%, $1000 bonds dated January 1, 2020, at 105. The journal entry to record the issuance will show a O...

Ayayai Corp. issues 1030, 10-year, 8%, $1000 bonds dated January 1, 2020, at 95. The journal entry to record the issuance will show a O credit to Bonds Payable for $978500. O debit to Cash for...

Gogo Ltd and Bobo Ltd are both wholesale companies working in the same business segment. Given the information embedded in a number of ratios that we collected (see table below), they seem however,...

List seven major factors that determine a watershed's response to a given rainfall.

Identify and describe 2 performance appraisal methods that could be applied to evaluate stans performance in this scenario

On January 1, 2015, James Company purchases 70% of the common stock of Craft Company for $245,000. On this date, Craft has common stock, other paid-in capital in excess of par, and retained earnings...

The Town of Willingdon adopted the following General Fund budget for fiscal year 2017: Estimated revenues: Taxes ......................................................$15,000,000 Intergovernmental...

Nunez Company has arranged to borrow $25,000 for five years at an interest rate of 8%. The annual payments will be $6,261.41. When Nunez makes its first payment at the end of the first year of the...

Refer to the preceding facts for Parsons acquisition of Solar common stock. Parson uses the simple equity method to account for its investment in Solar. During 2012, Solar sells $30,000 worth of...

Effect of radiation on psychometric measurements, suppose that a wet-bulb and dry-bulb thermometer are installed in a long duct with constant inside surface temperature T s and that the gas velocity...

Given the following information, determine the amount to order using the fixed - interval model. ( Round your answer to a whole number. ) Use Table B . 2 \ table [ [ \ table [ [ d = 4 2 units per day...

=+1. What is your opinion about the current level of executive compensation?

=+page=csr_civic_engagement). Do you get the sense that Timberland is genuine in its commitment to CSR? Does that create a good impression of the company or not make much difference in your...

=+2. What would your reaction be if a firm you worked for had a volunteer program?