{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-07T21:26:14-04:00", "answer_date": "2024-06-07 21:26:14", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2441657", "url": "\/study-help\/questions\/on-january-1-ralston-corporation-issues-8-0-2441657", "question_creation_date_js": "2024-06-07T21:26:14-04:00", "question_creation_date": "Jun 07, 2024 09:26 PM", "meta_title": "[Solved] On January 1 , Ralston Corporation issues | SolutionInn", "meta_description": "Answer of - On January 1 , Ralston Corporation issues $ 8 0 0 , 0 0 0 of 8 % bonds, due in 1 0 years, with interest payable semian | SolutionInn", "meta_keywords": "january,1,ralston,corporation,issues,$,8,bonds,due,years,interest,payable", "question_title_h1": "On January 1 , Ralston Corporation issues $ 8 0 0 , 0 0 0 of 8 % bonds, due in 1 0 years, with", "question_title": "On January 1 , Ralston Corporation issues $ 8 0 0 ,", "question_title_for_js_snippet": "On January 1 , Ralston Corporation issues $ 8 0 0 , 0 0 0 of 8 bonds, due in 1 0 years, with interest payable semiannually on June 3 0 and December 3 1 each year Price Investment Company purchases all of the bonds and classifies them as available for sale Assuming the market interest rate on the issue date is 9 , Price will purchase the bonds for $ 7 4 7 , 9 6 8 Required Complete the first three rows of an amortization table for Price Record the purchase of the bonds by Price on January 1 and the receipt of the first two semiannual interest payments on June 3 0 and December 3 1 Assume the fair value of the bonds equals $ 7 5 0 , 0 0 0 on December 3 1 Record any necessary fair value adjusting entry Calculate net income and comprehensive income Assume the company has sales revenue of $ 2 , 6 0 0 , 0 0 0 and operating expenses of $ 1 , 4 0 0 , 0 0 0 Complete this question by entering your answers in the tabs below Required 1 Required 2 Complete the first three rows of an amortization table for Price ( Round your answers to the nearest whole number )", "question_description": "\"image
On January <\/span>1<\/mn>,<\/mo><\/mrow><\/math> Ralston Corporation issues $<\/span>8<\/mn>0<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> of <\/span>8<\/mn>%<\/mo><\/mrow><\/math> bonds, due in <\/span>1<\/mn>0<\/mn><\/mrow><\/math> years, with interest payable semiannually on June <\/span>3<\/mn>0<\/mn><\/mrow><\/math> and<\/span> <\/div>
December <\/span>3<\/mn>1<\/mn><\/mrow><\/math> each year. Price Investment Company purchases all of the bonds and classifies them as available<\/span>-<\/mo><\/mrow><\/math>for<\/span>-<\/mo><\/mrow><\/math>sale.<\/span> <\/div>
Assuming the market interest rate on the issue date is <\/span>9<\/mn>%<\/mo>,<\/mo><\/mrow><\/math> Price will purchase the bonds for $<\/span>7<\/mn>4<\/mn>7<\/mn>,<\/mo>9<\/mn>6<\/mn>8<\/mn>.<\/mo><\/mrow><\/math> <\/div>
Required:<\/span><\/div>
Complete the first three rows of an amortization table for Price.<\/span><\/div>
Record the purchase of the bonds by Price on January <\/span>1<\/mn><\/mrow><\/math> and the receipt of the first two semiannual interest payments on June <\/span>3<\/mn>0<\/mn><\/mrow><\/math> <\/div>
and December <\/span>3<\/mn>1<\/mn>.<\/mo><\/mrow><\/math> <\/div>
Assume the fair value of the bonds equals $<\/span>7<\/mn>5<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> on December <\/span>3<\/mn>1<\/mn><\/mtext>.<\/mo><\/mrow><\/math> Record any necessary fair value adjusting entry.<\/span> <\/div>
Calculate net income and comprehensive income. Assume the company has sales revenue of $<\/span>2<\/mn>,<\/mo>6<\/mn>0<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> and operating expenses<\/span> <\/div>
of $<\/span>1<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math> <\/div>
Complete this question by entering your answers in the tabs below.<\/span><\/div>
Required <\/span>1<\/mn><\/mrow><\/math> <\/div>
Required <\/span>2<\/mn><\/mrow><\/math> <\/div>
Complete the first three rows of an amortization table for Price. <\/span>(<\/mi><\/mrow><\/math>Round your answers to the nearest whole number.<\/span>)<\/mi><\/mrow><\/math> <\/div><\/span> <\/div><\/div> \"image", "transcribed_text": "", "related_book": { "title": "Financial Accounting", "isbn": "1118334329, 978-1118334324", "edition": "9th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64b933c63095c_277.jpg", "uri": "\/textbooks\/financial-accounting-9th-edition-277", "see_more_uri": "" }, "free_related_book": { "isbn": "1403303274", "uri": "\/textbooks\/construction-cost-management-a-guide-to-cost-engineering-1st-edition-9781403303271", "name": "Construction Cost Management A Guide To Cost Engineering", "edition": "1st Edition" }, "question_posted": "2024-06-07 21:26:14", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/is-stability-really-a-strategy-or-just-a-term-for", "description": "Is stability really a strategy or just a term for no strategy?", "stars": 3.5 }, { "url": "\/study-help\/financial-accounting-theory\/you-have-been-appointed-as-chief-accountant-of-a-firm-1880036", "description": "You have been appointed as chief accountant of a firm that will be adversely affected by the method of accounting that is proposed in an exposure draft for an accounting standard on leasing. 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