Business, 27.03.2021 04:40 rosieanneanney

Cupola Fan Corporation issued 12%, $550,000, 10-year bonds for $525,000 on June 30, 2021. Debt issue costs were $3,000. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2022), the corporation exercised its call privilege and retired the bonds for $530,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs. Required:Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2018 & 2019, and the call of the bonds.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 14:40

Increases in output and increases in the inflation rate have been linked to

Answers: 2

Answer

Business, 22.06.2019 18:30

Afarmer is an example of what kind of producer?

Answers: 2

Answer

Business, 22.06.2019 19:00

Read the scenario. alfonso is 19 years old and has a high school diploma. recently, he was promoted to assistant manager at the fast-food restaurant where he has worked since the age of sixteen. his dream is to become the restaurant’s manager. what is his best option for achieving his dream? he should find another job and work his way up to a higher position. he should hope that his manager transfers to another location and that he is his replacement. he should attend classes at the local college to receive training in management. he should work hard, work longer hours, and remain assistant manager.

Answers: 2

Answer

You know the right answer?

Cupola Fan Corporation issued 12%, $550,000, 10-year bonds for $525,000 on June 30, 2021. Debt issue...

Questions