Question
Please answer all. Thank you in advance. Smith Corporation issues $2,100,000, 10 year, 8% bonds payable at a price of 97. The journal entry to
Please answer all. Thank you in advance.
Smith Corporation issues $2,100,000, 10 year, 8% bonds payable at a price of 97. The journal entry to record the issuance will include a:
A.)Debit to cash for $2,037,000
B.) credit to discount on bonds payable for $63,000
C.) Debit to cash of $2,100,000
D.) Credit to Bonds payable for $2,037,000 A bond with a face value of $90,000 and a quoted price of 106 has a selling price of: (Round your final answer to the nearest dollar.) a.)$99,000 b.)84,906 c.)90,000 d.)$95,400
On July 1, 2017, Brownlee Corporation issues $1,400,000 of 10year, 6% bonds dated July 1, 2017 at 91. Brownlee uses the straightline method of amortization. Interest is paid each July 1 and January 1. Brownlee Corporation's fiscal year end is June 30. The interest expense recognized for the first semiannual interest payment on January 1, 2018 is: a.) $35,700 b.)$48,300 c.)$42,000 d.)$84,000
A company has pension plan assets with a fair market value of $8 million. The accumulated benefit obligation for pensions is $9 million and the projected benefit obligation for pensions is $15 million. What pension liability is reported on the balance sheet? A.)$7 mil B.)$9 mil C.)15 mil D.)1 mil
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