On january 1, 2017, the market interest rate is 18%. friedman software, inc. issues $ 300,000 of
Question:
On january 1, 2017, the market interest rate is 18%. friedman software, inc. issues $ 300,000 of 15%, 5-year bonds payable. the bonds pay interest on april 30, august 31, and december 31 (3 times a year) friedman uses the effective-interest method for the amortization of the bond.
Required:
1. Record the issuance of the bonds on january 1, 2017
2. Record the first 3 interest payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
1 Computation of the Price of the bond Par Value 300000 Coupon ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Question Posted:
Students also viewed these Managerial Accounting questions
-
Adrenaline Entertainment is struggling financially and its CFO, David Plesko, is starting to feel the heat. Back on January 1, 2013, Adrenaline Entertainment issued $100 million of 6% bonds, due in...
-
Select the best answer for each of the following. 1. On January' 1, 2015, Bay Company issues bonds with a face value of $850,000 that pay 9% interest semiannually and mature in 15 years. The market...
-
Standard Autoparts Inc. issued $100,000 of 7%, 10-year bonds at a price of 87 on January 31, 2017. The market interest rate at the date of issuance was 9%, and the standard bonds pay interest...
-
Skid more Company sold merchandise on July 1, 2007 to Joseph Company, accepting a $100,000 down payment and a 8% note payable for the balance of $400,000. The cost of the merchandise to Skid more was...
-
Suppose that you push a book across a 6-meter-long table by exerting a force f(x) at each point from x = 0 to x = 6. What does 6 f(x) dx represent? If f(x) is measured in newtons, what are the units...
-
The Small Business Administration (SBA) is a government run organization that oversees the microloan program for small businesses. Microloans are small, short term loans that are less than $ 25,000...
-
Dwight Oil Company computes DD&A on a fieldwide basis. Balance sheet data as of 12/31/15 for Dwights Anadarko Basin field are as follows: REQUIRED: Using BOE: a. Calculate DD&A for 2016. b. Calculate...
-
In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ....... ? 2. At overtime rate .. $135,000 3. Total earnings ....... ?...
-
PA11-1 (Algo) Calculating Accounting Rate of Return, Payback Period, Net Present Value, Estimating Internal Rate of Return [LO 11-1, 11-2, 11-3, 11-4] Balloons By Sunset (BBS) is considering the...
-
The Electret microphone AUM-5047L we will use can be modeled as a Norton current source, with DC current IMIC as shown below. We need to set up its DC operating point correctly, by an appropriate...
-
California Health Center, a for-profit hospital, is evaluating the purchase of new diagnostic equipment. The equipment, which costs $600,000, has an expected life of five years and an estimated...
-
Fishbone Corp. bought a new machine and agreed to pay for it in equal annual installments of $4,000 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 8% applies to...
-
On January 1, 2011, Snider Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 90,000 shares issued and outstanding) ................... $900,000 Paid-in Capital...
-
e) Define slope of the straight line. f) If the angle between two lines is and slope of one of the lines is 1/2,find the slope of the other line
-
What is an organization's culture? and also describe the 4 types of Organizational culture?
-
Evaluate lim 2ln(x) x-xo ln(x)+1
-
As you read through the case and see an issue, you must correctly state the issue in one sentence in the form of a question just like the cases we do in class. After you state the issue, you must...
-
There are six steps in calculating the European put option price today you'll be asked to provide the formulas used in each step and then provide the answers. The shares of echo corporation are...
-
Use the Chain Rule to find the indicated partial derivatives. T= 2u + v' u = pq/r, v= Pvar; when p = 2, q = 1, r = 4 ap' aq' ar
-
The Zwatch Company manufactures trendy, high-quality moderately priced watches. As Zwatch's senior financial analyst, you are asked to recommend a method of inventory costing. The CFO will use your...
-
The Wendt Corporation had $10.5 million of taxable income. a. What is the companys federal income tax bill for the year? b. Assume the firm receives an additional $1 million of interest income from...
-
The Wendt Corporation had $10.5 million of taxable income. a. What is the companys federal income tax bill for the year? b. Assume the firm receives an additional $1 million of interest income from...
-
The Wendt Corporation had $10.5 million of taxable income. a. What is the companys federal income tax bill for the year? b. Assume the firm receives an additional $1 million of interest income from...
-
Assignment A partnership is a legal entity formed by two or more people who agree to share the profits and losses of a business. Partnership accounting is the process ofrecording and reporting the...
-
Which statement below correctly describes merchandise inventory?Multiple choice question.Merchandise inventory is an asset reported on the balance sheet and contains the cost of products purchased...
-
Consulta las fuentes orientadas y otras de inters relacionadas con la asignatura y realiza las siguientes actividades: Con los conocimientos adquiridos en la unidad y las orientaciones del...
Study smarter with the SolutionInn App