Business, 06.05.2020 03:19, madisynivy6
Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda issued $30,000,000 of five-year, 10% bonds at a market (effective) interest rate of 8%, receiving cash of $32,433,150. Interest is payable semiannually. Shunda’s fiscal year begins on January 1. The company uses the interest method.
a. Journalize the entries to record the following:
1. Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
2. First semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
3. Second semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
b. Determine the bond interest expense for the first year. Round to the nearest dollar.
Annual interest paid $
Less premium amortized
Interest expense for first year
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 11:00, saurav76
When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way. creating a unified promotional message, where potential customers perceive the same message, whether it is in a tv commercial, or on a billboard, or in a blog, is called
Answers: 2
Business, 22.06.2019 14:30, Hannahdavy5434
Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be
Answers: 3
Business, 22.06.2019 14:50, demarcuswiseman
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
Business, 23.06.2019 00:30, hellothere2458
Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?
Answers: 3
Do you know the correct answer?
Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda issued $30,000,...
Questions in other subjects:
Arts, 01.06.2021 17:50
Mathematics, 01.06.2021 17:50
