Business, 02.09.2020 01:01 Piglets1228

On November 1, 2018, Reid Corporation acquired bonds with a face value of $700,000 for $673,618.61. The bonds carry a stated rate of interest of 10%, were purchased to yield 11%, pay interest semiannually on April 30 and October 31, were purchased to be held to maturity, and are due October 31, 2022. On November 1, 2019, in contemplation of a major acquisition, the bonds were sold for $700,000. Reid is on a fiscal year accounting period ending October 31 and uses the effective interest method. Required:a. Prepare journal entries to record the purchase of the bonds, the interest receipts on April 30, 2019, and October 31, 2019, and the sale of the bonds. b. Prepare journal entries to record the purchase of the bonds, the interest receipts on April 30, 2019, and October 31, 2019, and the sale of the bonds

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 10:00, caz27

Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i. e., to have ebit = zero?

Answers: 1

continue

Business, 22.06.2019 21:40, goku4420

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $

Answers: 3

continue

Business, 23.06.2019 02:30, Bucsan8688

Arguments made against free trade include all of the following exceptdumping is an unfair trade practice that puts domestic producers of substitute goods at a disadvantage that they should be protected against. national defense considerations justify producing certain goods domestically whether the country has a comparative advantage in their production or not. free trade is inflationary and should be restricted in the domestic interest. if foreign governments subsidize their exports, foreign firms that export are given an unfair advantage that domestic producers should be protected against. infant industries should be protected from free trade so that they may have time to develop and compete on an even basis with older, more established foreign industries.

Answers: 3

continue

Business, 23.06.2019 06:00, jenstets05

For each example, identify the most appropriate ctso. marilyn is a middle-school student who wants to prepare for a career in farming: pasnational ffanyfeafeajanice is a high-school student who wants to start her own business: skillsusatsapasdecaabe is a high-school student who wants to become an information technology worker: hosafcclabpanyfearene wants to teach middle-school classes: feafccladecahosa

Answers: 1

continue

You know the right answer?

On November 1, 2018, Reid Corporation acquired bonds with a face value of $700,000 for $673,618.61....