Rockwood Company issued $100,000 of 10% bonds on November 1, 2016, at 103. Interest on the bonds is payable on November 1 and May 1 of each year, and the maturity date is November 1, 2026. Rockwood retired bonds with a face value of $20,000 on February 1, 2018, at 98 plus accrued interest. Rockwood uses straight-line amortization and reverses any calendar year-end adjusting entries.
Required:
1. Prepare the journal entry to record the issuance of the bonds on November 1, 2016.
2. Prepare all the journal entries to record the interest expense during 2017.
3. Prepare the journal entries to record the retirement of $20,000 of the bonds on February 1, 2018.
Answers: 3
Business, 21.06.2019 21:40, GreenHerbz206
Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .
Answers: 1
Business, 22.06.2019 20:30, Arealbot
Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game. expert answer
Answers: 3
Rockwood Company issued $100,000 of 10% bonds on November 1, 2016, at 103. Interest on the bonds is...
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