Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method
Daan Corporatio...
Business, 03.03.2020 01:28 alexzavaleta775
Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method
Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2014, Daan Corporation issued $3,600,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash of $4,048,640. Interest is payable semiannually on April 1 and October 1.
Hide
a. Journalize the entry to record the issuance of bonds on April 1, 2014. For a compound transaction, if an amount box does not require an entry, leave it blank.
Bonds Payable
Cash
Discount on Bonds Payable
Interest Expense
Interest Payable
Premium on Bonds Payable
Correct 2 of Item 1
Correct 3 of Item 1
Correct 4 of Item 1
Accounts Payable
Cash
Discount on Bonds Payable
Interest Expense
Interest Payable
Premium on Bonds Payable
Correct 5 of Item 1
Correct 6 of Item 1
Correct 7 of Item 1
Accounts Payable
Bonds Payable
Cash
Discount on Bonds Payable
Interest Expense
Interest Payable
Correct 8 of Item 1
Correct 9 of Item 1
Correct 10 of Item 1
Entries for Issuing Bonds and Amortizing Premium b
Hide FeedbackShow All Feedback
Check My Work Feedback
Post Submission Feedback
Solution
Hide
b. Journalize the entry to record the first interest payment on October 1, 2014, and amortization of bond premium for six months, using the straight-line method. (Round to the nearest dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank.
Bonds Payable
Cash
Discount on Bonds Payable
Interest Expense
Interest Payable
Interest Receivable
Correct 2 of Item 2
Correct 3 of Item 2
Correct 4 of Item 2
Bonds Payable
Cash
Discount on Bonds Payable
Interest Payable
Interest Receivable
Premium on Bonds Payable
Correct 5 of Item 2
Correct 6 of Item 2
Correct 7 of Item 2
Bonds Payable
Cash
Discount on Bonds Payable
Interest Expense
Interest Payable
Premium on Bonds Payable
Correct 8 of Item 2
Correct 9 of Item 2
Answers: 2
Business, 21.06.2019 18:20, genyjoannerubiera
Elon musk is the ceo of tesla motors. musk also serves as chairman of tesla's board. according to corporate governance theory, which of the following is a logical reason why musk should serve on the board? 1. he serves on many other boards, including that of a major client of tesla.2. his is an independent director who is well positioned to monitor the company's management.3. he can easily fire board members that are shirking their duties.4. he can provide the board with valuable inside information about the firm and the industry.
Answers: 1
Business, 21.06.2019 19:00, skcats7353
Ashare stock is a small piece of ownership in a company ture or false
Answers: 2
Business, 21.06.2019 22:50, jonlandis6
Synovec co. is growing quickly. dividends are expected to grow at a rate of 24 percent for the next three years, with the growth rate falling off to a constant 7 percent thereafter. if the required return is 11 percent, and the company just paid a dividend of $2.05, what is the current share price? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
Answers: 2
Business, 22.06.2019 00:50, emma3216
cranium, inc., purchases term papers from an overseas supplier under a continuous review system. the average demand for a popular mode is 300 units a day with a standard deviation of 30 units a day. it costs $60 to process each order and there is a five−day lead−time. the holding cost for a paper is $0.25 per year and the company policy is to maintain a 98% service level. cranium operates 200 days per year. what is the reorder point r to satisfy a 98% cycleminus−service level? a. greater than 1,700 unitsb. greater than 1,600 units but less than or equal to 1,700 unitsc. greater than 1,500 units but less than or equal to 1,600 unitsd. less than or equal to 1,500 units
Answers: 1
English, 30.03.2020 00:34
Mathematics, 30.03.2020 00:34
Mathematics, 30.03.2020 00:34
Health, 30.03.2020 00:35
Mathematics, 30.03.2020 00:35
Mathematics, 30.03.2020 00:36
Mathematics, 30.03.2020 00:36