1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
castortr0y [4]
3 years ago
15

Several years ago, Walters Company issued bonds with a face value of $1,000,000 at par. As a result of declining interest rates,

the company has decided to call the bond at a call premium of 5 percent over par. Record the retirement of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
Pavel [41]3 years ago
8 0

Answer:

Walter company Journal $

Date

Bond investment Dr 1,000,000

Bond premium Dr 50,000

Bank Cr. 1,050,000

Narration. Bond retirement at a premium of 5% over par.

Explanation:

The bond investment account is kept fixed at the amount at which it was subscribe, the corresponding interest are debited to income statement on payment to the bond holders.

In the same vein the retirement of the bond at a premium represents an expenses to the firm which has to be debited to the income statement on payment to the bond holders.

You might be interested in
Approximately ________ workers each year are treated for injuries caused by lifts, jacks, or jack stands.
tresset_1 [31]

Answer: 15,000...............

4 0
2 years ago
Consider the following list of items: Food Electric bill Clothing Health insurance These are all examples of:
Gnom [1K]

These are all expenses because they cost you money each month.

8 0
3 years ago
Read 2 more answers
The gas station on the edge of town has gas that is 30c/gallon cheaper than my local station. I buy 10 gallons of gas a week. As
Tems11 [23]

Answer:

No

Explanation:

Because its better u save 0.3*10=3 dollars but I value my time for $5 for that half an hour and hence its better not to go considering opportunity cost.

3 0
3 years ago
Which type of budget indicates more expenses than income?
Fittoniya [83]

Answer:

a deficit budget

Explanation:

A budget is a plan detailing how an individual, a firm, or a government will spend its anticipated revenue. In short, a budget is a plan of expenditure. Budgets are usually prepared at the beginning of a period to guide the use of available resources.

An ideal situation is when the planned expenditure equal to the expected income. Such a plan is called a balanced budget. However, in some circumstances, the planned expenditure exceeds the projected income. That budget is a deficit budget.

3 0
2 years ago
4. Wilford has developed a leg pillow for long airline flights that reduces the risk of blood clots. He isn't sure how to develo
Viefleur [7K]

To learn how people are searching online, a keyword analysis would be most relevant.

8 0
3 years ago
Other questions:
  • Doss is vice president of marketing research for General Mills. The chefs at General Mills bring three new cookie recipes to Dos
    6·1 answer
  • In which of the following ways can a person earn an income? A. Investment B. Salary C. Savings D. Wage
    15·2 answers
  • How to report nominal logistic regression in papers?
    8·1 answer
  • When external benefits are present in a market?
    6·1 answer
  • The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $245,000; Sala
    10·1 answer
  • How are resources and scarcity connected?
    8·1 answer
  • WoodCore Inc. produces an entire line of office furniture at its manufacturing facility in the United States and then ships its
    6·1 answer
  • What are financial institutions and why are they so important
    13·1 answer
  • A broker has a listing agreement wherein she is paid an agreed-upon fee or commission regardless of who sells the property. What
    14·1 answer
  • Loyal customers and proprietary bread both fall within which part of the swot analysis?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!