Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Apr 08, 2024

7 . Pink, Inc. had Bonds Payable of $ 8 0 , 0 0 0 as of April 1 7 , 2 0 1 5

7 .

Pink, Inc. had Bonds Payable of $

80, 000

as of April

17, 2015 .

Their Premium on Bonds Payable account had a credit balance of $

13, 000 .

If they retire the bonds for $

75, 000,

what will their journal entries be at retirement?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

When Pink Inc retires the bonds for 75000 the journal entries to record th... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Accounting questions

Question

Question: Old MathJax webview Old MathJax webview i need ans of these question but the source is alot Old MathJax webviewOld MathJax webview i need ans of these question but the source is alot these...

Answered: 1 week ago

Question

★★★★★

7) The second financial statement to prepare is the statement of retained eamings. To determine the ending balance of retained earnings you need to start with the opening balance as reported in the...

Answered: 1 week ago

Question

★★★★★

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...

Answered: 1 week ago

Question

★★★★★

Determine how current values might be determined for investments, land, buildings, equipment, patents, copyrights, trademarks, and franchises. How might the use of current values in the accounting...

Answered: 1 week ago

Question

★★★★★

The prevalence of mild myopia (nearsightedness) in adults over age 40 is 25% in the U.S. Suppose four adults over age 40 are chosen at random from the population; let Y denote the number with myopia...

Answered: 1 week ago

Question

★★★★★

Taking action: How effectively can you deal with problems among the workers? A. Can I let you know next week? B. I listen to the situation, gather information quickly, act promptly, consistently, and...

Answered: 1 week ago

Question

★★★★★

4. Respect other peoples property. This means property belonging to the school, the teacher, or other students. Take care of others property, ask permission to borrow, and return borrowed items in...

Answered: 1 week ago

Question

★★★★★

Cholla Companys standard fixed overhead rate is based on budgeted fixed manufacturing over-head of $10,200 and budgeted production of 30,000 units. Actual results for the month of October reveal that...

Answered: 1 week ago

Question

★★★★★

A document that shows the type and quantity of each major item of the materials required to make a product is known os a job cost sheet. select otie: True Fatse Process costing systems are best used...

Answered: 1 week ago

Question

★★★★★

A distillery in Scotland uses i = 1,...,m unblended whiskies (inputs) to create blended whiskies (products) j = 1,...,n with properties k = 1,..., p. Unblended whisky i measures ai,k on scale k....

Answered: 1 week ago

Question

★★★★★

Scenario update As a proof of concept in the TSA Meats network build project the network architect that you demonstrate how the final network would operate with the aid of the network emulation tool...

Answered: 1 week ago

Question

★★★★★

Use the following distribution to estimate the percentage of light bulbs having a life less than 2500 hours. Hours of life' of light bulbs 0 1000 4000 5000 2000 3000 hours A. 20% B. 50% C. 5% D. 80%

Answered: 1 week ago

Question

★★★★★

In 1980, approximately 20% of adults aged 18-34 were considered minorities, reporting their ethnicity as other than nonHispanic white. By the end of 2013, that percentage had more than doubled. How...

Answered: 1 week ago

Question

★★★★★

How is the Target breach different from the TJ Maxx breach? How would you have approached those, knowing what you know now?

Answered: 1 week ago

Question

★★★★★

A _ ("pi-minus") particle, which has charge _ e , is at location5.0010 -9 ,-2.0010 -9 ,-7.0010 -9 m. What is the electric field at location m, due to the _ particle? = An antiproton (same mass as the...

Answered: 1 week ago

Question

★★★★★

3 Farmer and Taylor formed a partnership with capital contributions of $260,000 and $310,000, respectively. Their partnership agreement calls for Farmer to receive a $82,000 per year salary. The...

Answered: 1 week ago

Question

★★★★★

What are the four types of poultry production systems? Explain each type.

Answered: 1 week ago

Question

★★★★★

Brian and Kim have a 12-year-old child, Stan. For 2012, Brian and Kim have taxable income of $52,000, and Stan has nonqualifying dividend income of $4,500 and investment expenses of $250. No election...

Answered: 1 week ago

Question

★★★★★

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-7. Ivan sold the following securities during the year and received a Form 1099-B that...

Answered: 1 week ago

Question

★★★★★

Harold Conners (Social Security number 785-23-9873) lives at 13234 DeMilo Drive, Houston, TX 77052, and is self-employed for 2012. He estimates his required annual estimated tax payment for 2012 to...

Answered: 1 week ago

Question

★★★★★

6.28. A decision is planned in a test of Hq: /x = 0 against Ha: fx > 0, using a = 0.05. If /r = 5, P(Type II error) = 0.17. (a) Explain the meaning of this last sentence. (b) If the test used a =...

Answered: 1 week ago

Question

★★★★★

6.41. In the 1990s, the U.S. Justice Department and other groups studied possible abuse by Philadelphia police officers in their treatment of minorities. One study, conducted by the American Civil...

Answered: 1 week ago

Question

★★★★★

6.38. Refer to the data file your class created in Exercise 1.12 (page 9). For variables chosen by your instructor, state a research question and conduct inferential statistical analyses. Also use...

Answered: 1 week ago

Previous Question Next Question