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
Montano1993 [528]
3 years ago
11

The situations presented here are independent of each other.For each situation, prepare the appropriate journal entry for the re

demption of the bonds.Pelfer Corporation redeemed $160,000 face value, 10% bonds on April 30, 2014, at 105. The carrying value of the bonds at the redemption date was $144,571. The bonds pay annual interest, and the interest payment due on April 30, 2014, has been made and recorded.2-Youngman, Inc., redeemed $250,400 face value, 14.3% bonds on June 30, 2014, at 96. The carrying value of the bonds at the redemption date was $271,021. The bonds pay annual interest, and the interest payment due on June 30, 2014, has been made and recorded.
Business
1 answer:
Vlada [557]3 years ago
4 0

Answer and Explanation:

The Journal entry is shown below:-

1. Bonds payable Dr, $160,000

Loss on bond redemption Dr, $23,429

($160,000 × 1.05 - $144,571)

      To Discount on bond payable $15,429

($160,000 - $144,571)

      To Cash $168,000

($160,000 ÷ 100 × 105)

(Being redemption of bonds is recorded)

2. Bonds payable Dr, $250,400

Premium on bond payable Dr, $20,621

($271,021 - $240,384)

        To Gain on bond redemption $30,637

($271,021 - $240,384)

         To Cash  $240,384

($240,384 ÷ 100 × 96)

(Being redemption on bonds is recorded)

You might be interested in
The company has a preponderance of our most popular items
inna [77]

When a company has a preponderance of our most popular items, it implies that the firm has more of that type of product/item than of any other.

<h3>What is  preponderance?</h3>

The word preponderance is said to be superiority in terms of weight, power, vitality, or strength.

It is said to be also when there is an excess of a product or an item in terms of number or quantity.

Learn more about company  from

brainly.com/question/24553900

5 0
2 years ago
The stock price of Baskett Co. is $53.40. Investors require a return of 12 percent on similar stocks. If the company plans to pa
Gemiola [76]

Answer:

Growth Rate = 5.73%

Explanation:

The present value of stock formula can be used here to solve this problem.

The formula is:

P_0=\frac{Div_1}{r-g}

Where

P_0  is the current stock price

Div_1  is the dividend to be paid next year

r is the rate of return required

g is the growth rate expected

Now, the first 3 variables are given, we need to find g. Substituting, we find our answer:

P_0=\frac{Div_1}{r-g}\\53.40=\frac{3.35}{0.12-g}\\53.40(0.12-g)=3.35\\6.408-53.40g=3.35\\53.40g=3.058\\g=0.0573\\

In percentage, it is

<u>Growth Rate = 5.73%</u>

7 0
2 years ago
You sell short 300 shares of Microsoft that are currently selling at $30 per share. You post the 50% margin required on the shor
Lostsunrise [7]

Answer:

20%

Explanation:

Data provided

Currently selling per share = $30

Cost of Microsoft after selling = $27

Margin percentage = 50%

The calculation of rate of return is shown below:-

Rate of return = (Currently selling per share - Cost of Microsoft after selling) ÷ Margin percentage × 100

= ($30 - $27) ÷ 50% × 30

= $3 ÷ 15

= 0.20

or

20%

Therefore for calculating the rate of return we simply applied the above formula.

4 0
3 years ago
If a sole proprietorship fails which of the owner's assets may be lost
bulgar [2K]
They can lose their personal assets.
4 0
3 years ago
You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal
Schach [20]

Answer:

it to long to read sorry  what is it about now now

Explanation: ask someone else

4 0
3 years ago
Other questions:
  • The accuracy of cost-volume-profit analysis is limited because it assumes a strictly linear relationship between the variables.
    8·1 answer
  • Which Swing Era bandleader was a virtuoso clarinetist, included a string section in his dance band, was married eight times, and
    10·1 answer
  • During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The prefe
    10·1 answer
  • How do you spell proportional
    8·2 answers
  • Gary owns shares in a company called Archibald Industries Inc. The company's financial performance has been declining over the p
    5·2 answers
  • Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit
    12·1 answer
  • In the following situation, imagine you are a waiter at a restaurant. See if you can put this list of tasks in
    8·1 answer
  • What should you do if a package is stolen from your doorstep?
    13·2 answers
  • A product sells for $275 per unit, and its variable costs are 68% of sales. The fixed costs are $345,600. What is the break-even
    14·1 answer
  • Roger is almost done with his feasibility study and is concerned about the financing. Up until this point, he has been operating
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!