Zho Company issues HK$5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and
Question:
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2011.
(b) Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2011, assuming no previous accrual of interest.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
a Jan 1 Cash 96 X HK5000000 4800000 ...View the full answer
Answered By
WAHIDUL HAQUE
hello,
I'm a professional academic solution provider working as a freelance academic solution provider since 7 years. I have completed numerous projects. Help lots of students to get good marks in their exams and quizzes. I can provide any type of academic help to your homework, classwork etc, if you are a student of Accounting, Finance, Economics, Statistics. I believe in satisfying client by my work quality, rather than making one-time profit. I charge reasonable so that we make good long term relationship. why will you choose me? i am an extremely passionate, boldly honest, ethically driven and pro-active contractor that holds each of my clients in high regards throughout all my business relations. in addition, I'll always make sure that I'm giving my 100% better in every work that will be entrusted to me to be able to produce an outcome that will meet my client's standards. so if you are a student that is now reading my profile and considering me for your academic help. please feel free to look through my working history, feedback and contact me if you see or read something that interests you. I appreciate your time and consideration.
regards
4.90+
233+ Reviews
368+ Question Solved
Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
Question Posted:
Students also viewed these Accounting questions
-
The dye dilution method is used to measure cardiac output with 8 mg of dye. The dye concentrations, in mg/L, are modeled by c(t) = t(12 t), 0 < t < 12, where is measured in seconds. Find the...
-
Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0.50 par value common stock assuming the shares sell for: a. $0.50 cash per share. b. $2 cash per share.
-
Prepare the journal entry to record Selectist Companys issuance of 104,000 shares of no-par value common stock assuming the shares: a. Sell for $15 cash per share. b. Are exchanged for land valued at...
-
Suppose 2 x - T f(x) -1-cos z for all real numbers z. Find lim f(x) PIK 2) Use the Squeeze Theorem to evaluate the limit lim 2 sin()
-
What is the cost of heavy-handed government regulation?
-
The three stone blocks have weights of W A = 600 lb, W B = 150 lb, and W C = 500 lb. Determine the smallest horizontal force P that must be applied to block C in order to move this block. The...
-
Very high vibration levels were experienced on a drag line when the bucket, full of wet sand, was shifted into high speed for the ascent from the lake. The frequency of this peak is much lower than...
-
A belt that is used in a drive mechanism in a copier machine is required to have a minimum tensile strength of LSL = 150 lb. It is known from long experience that = 5 lb for this particular belt....
-
Write a script that does the following: Defines a variable, N = 1000 Generates a vector of N random samples from a normal (Gaussian) distribution with a mean of 100 and standard deviation of 10....
-
Take a very careful look at the picture below. Write a brief paragraph of the place using imagery, diction, and figures of speech. You may incorporate an experience related to the location to make...
-
Tim Brown, a friend of yours, has recently purchased a home for $125,000, paying $25,000 down and the remainder financed by a 10.5%, 20-year mortgage, payable at $998.38 per month. At the end of the...
-
Aber Corporations statement of financial position at December 31, 2010, is presented below. During 2011, the following transactions occurred. 1. Aber paid $3,000 interest on the bonds on January 1,...
-
Write a paper on BillCutterz and also define Assessing Barry Gross and His Performance as President of BillCutter.com
-
Three questions Under the UCC, goods used by a business in performing its function are referred to as Leon borrowed money to purchase a car against the certificate of deposit he has in the bank. Is...
-
Braverman Company has two manufacturing departments-Finishing and Fabrication. The predetermined overhead rates in Finishing and Fabrication are $27.00 per direct labor-hour and 110% of direct...
-
Question No 1: Different information systems used for banking are as follows: (i)Executive information systems (EIS ). It is a computer-based information system that is specifically intended to meet...
-
A company operates 8 hours per shift, two shifts per day, five days a week with 12 hours maintenance per week and other downtime of 2 hours per week. What is the effective capacity in hours per week?
-
For the following cell: Pt | H2 (101kPa) | HCI (0.25 M) | | Sn2(1.50 M), Sn4+ (0.6 M) | Pt 1. Write the cell reaction and calculate the cell potential; (4 marks) 2. Calculate the ratio of...
-
Decide about the truth or falsity of the following statement: If wishes were horses, then beggars could ride.
-
When you weigh yourself on good old terra firma (solid ground), your weight is 142 lb. In an elevator your apparent weight is 121 lb. What are the direction and magnitude of the elevator's...
-
How does SCM software support SCM?
-
Rita Pelzer was just hired as the assistant controller of Yorkshire Inns. The company is a specialty chain hotel with nine hotels concentrated in one metropolitan area. Among other things, the...
-
The ledger of Perez Company includes the following items: (a) Freight-in, (b) Purchase Returns and Allowances, (c) Purchases, (d) Sales Discounts, and (e) Purchase Discounts. Identify the items that...
-
In its first month of operations Rusch BBQ made three purchases of sausages in the following sequence: (1) 300 pounds at $6, (2) 400 pounds at $7, and (3) 200 pounds at $8. Assuming there are 450...
-
Solve for X X x= 22 33 33 -22
-
Find the matrix R, the row echelon form of the matrix A What value of c gives A a different rank compared to all other values of c? What are the ranks in both cases? For each case, find the column...
-
Consider the hypothetical country of Nahanni. Suppose that national income in Nahanni is $30 billion, households pay $12 billion in taxes, household consumption is equal to $16 billion, and the...
Study smarter with the SolutionInn App