A company issues a $2,000,000, 9 , five year bond that pays semiannual interest of $90,000 ($2,000,000 9 ), receiving cash of $2,166,332 journalize the bond issuance ...

A company issues a $2,000,000, 9%, five-year bond that pays semiannual interest of $90,000 ($2,000,000 9%

Question:

A company issues a $2,000,000, 9%, five-year bond that pays semiannual interest of $90,000 ($2,000,000 × 9% × ½), receiving cash of $2,166,332. journalize the bond issuance.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 9780538475006

24th Edition

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

See More Books

Question Posted: Oct 14, 2011 05:56 AM

See More Questions

You own a 10- year bond that pays 6 percent interest annually. The par value of the bond is $ 1,000 and the market price of the bond is $ 900. What is the yield to maturity of the bond?
Journalize issuance of the bond and the first semiannual interest payment under each of the following three assumptions. The company amortizes bond premium and discount by the effective-interest...
Journalize issuance of the bond and the first semiannual interest payment under each of the following three assumptions. The company amortizes bond premium and discount by the effective-interest...
6- Where is "bunds Payable" account recorded in the balance sheet? A)Long Term Liabilities B) Non Current Assets C) Current Assets D) Owner's Equity
The owner of D'Addario Company has been doing all of the company's bookkeeping. When the accountant arrived to do the year-end adjusting entries, she found the following items: 1. A payment of...
Delance & Co. makes electronic components. Chris Delance, the president, recently instructed Vice President Jim Bruegger to develop a total quality control program. If we dont at least match the...
Using the information for Obras, Inc., in SE 4 and SE 5, compute the debt to equity ratio and the interest coverage ratio for 20x6 and 20x7. Comment on the results. (Round computations to one decimal...
Evaluate the following statements of business research problems. For each provide a decision statement and corresponding research objectives: a. A farm implement manufacturer: Our objective is to...
Help please Part VIII: Optimization Minimum Area (10 points) I 8) A rectangular page is to contain 48 square inches of print. The margins on each side are 1= inches. Find the dimensions of the page...
Toner Corporation computed the following taxable income and loss: 2020 taxable income, $10,000 and 2021 tax- able loss, $40,000. At the end of 2021, Toner made the following estimates: 2022 taxable...
Using the bond from Practice Exercise 12-2B, journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar.
A company issues a $6,000,000, 12%, five-year bond that pays semiannual interest of $360,000 ($6,000,000 12% ), receiving cash of $6,463,304. Journalize the bond issuance.
Starting with acetylene as the only source of carbon, together with any inorganic reagents required, devise a method to synthesize acetaldehyde.
Prove that, the area of the traverse is equal to the algebraic sum of the products of the total latitude of each point and algebraic sum of the departures of the lines meeting at that point.
The pinion S (see FigQ3) has 15 teeth, and is connected to a motor shaft. The wheel P has 20 teeth and gears with S and also with a fixed annulus wheel A. The pinion C has 15 teeth and is fixed to...
A restaurant has a capacity of serve 150 customers during the dinner time from 5 to 9 pm. In a typical evening, the restaurant serves an average of 120 customers. What is the restaurant's capacity...
Listed below (in alphabetical order) are the general ledger and budgetary accounts for the City of Walland. All balances are year end, unless otherwise noted. All accounts have a normal balance. At...
PERCEPTUAL MAPPING EXERCISE FAST FOOD RESTAURANTS Learning Objectives Understand how consumer perceptions are studied and acted upon through the use of perceptual mapping Wide Choice Develop...
The medical record is the principal means of communication among healthcare professionals in matters relating to patient care.
A city maintains a solid waste landfill that was 12 percent filled at the end of Year 1 and 26 percent filled at the end of Year 2. During those periods, the government estimated that total closure...
(a) Draw the structure of the conjugate base of each of the following compounds. What is the relationship between the two conjugate bases? (b) Which compound is more acidic? Use an energy diagram to...
Define accounting.
Briefly distinguish financial accounting from managerial accounting.
Briefly distinguish financial accounting from managerial accounting.
Olivia's dumplings has a current stock price of $ 5 6 , and pays a constant dividend of $ 3 . 2 5 per year, ever year, forever. What is the required rate of return for this stock?
The following information is available for ADT Company, which produces special - order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate...
Item 2 8 . 3 3 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 2 Problem 1 - 3 5 ( LO 1 - 3 ) ( Algo ) Chuck, a single taxpayer, earns $ 7 8 , 6 0 0 in taxable income...

A company issues a $2,000,000, 9%, five-year bond that pays semiannual interest of $90,000 ($2,000,000 9%

Question:

Step by Step Answer:

Cash 2166332 ...View the full answer

Accounting

Students also viewed these Accounting questions