Rockwood Company issued $100,000 of 10% bonds on November 1, 2016, at 103. Interest on the bonds is payable on November 1 and May 1 of each year, and the maturity date is November 1, 2026. Rockwood retired bonds with a face value of $20,000 on February 1, 2018, at 98 plus accrued interest. Rockwood uses straight-line amortization and reverses any calendar year-end adjusting entries.
Required:
1. Prepare the journal entry to record the issuance of the bonds on November 1, 2016.
2. Prepare all the journal entries to record the interest expense during 2017.
3. Prepare the journal entries to record the retirement of $20,000 of the bonds on February 1, 2018.
Answers: 3
Business, 22.06.2019 12:20, ohgeezy
Consider 8.5 percent swiss franc/u. s. dollar dual-currency bonds that pay $666.67 at maturity per sf1,000 of par value. it sells at par. what is the implicit sf/$ exchange rate at maturity? will the investor be better or worse off at maturity if the actual sf/$ exchange rate is sf1.35/$1.00
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Business, 22.06.2019 17:00, kiahbryant12
Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?
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Rockwood Company issued $100,000 of 10% bonds on November 1, 2016, at 103. Interest on the bonds is...
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