Business, 21.09.2020 06:01, hallkayleel0lozgxtq

On January 1, 2017, Novak Company sold 11% bonds having a maturity value of $450,000 for $467,058, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 of each year. Novak Company allocates interest and unamortized discount or premium on the effective-interest basis. a. Prepare the Journal entry at the date of the bond issuance.
b. Prepare a schedule of interest expense and bond amortization for 2017-2019.
c. Prepare the Journal entry to record the interest payment and the amortization for 2017.
d. Prepare the Journal entry to record the interest payment and the amortization for 2019.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 23:50, kaylinreed7

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)

Answers: 2

continue

Business, 23.06.2019 01:10, jmiller2446

Snuggables sells microwaveable heat packs online. their sales software collects customer/sales information and shares it with the customer service and sales departments. none of the customer complaints or suggestions reach the product development person, however. which step of the three-step processes for success is snuggables failing to use fully?

Answers: 2

continue

Business, 23.06.2019 07:30, allierl2001

Which of the following conditions might result in the best financial decisions? a. agreeableness b. openness c. conscientiousness d. extraversion

Answers: 1

continue

Business, 23.06.2019 14:30, tyler9585

After four years aspen earned 510$ in simple interest from a cd into which she initially deposited $3000 what was the annual interest rate of the cd

Answers: 3

continue

Do you know the correct answer?

On January 1, 2017, Novak Company sold 11% bonds having a maturity value of $450,000 for $467,058, w...