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3 years ago

For each situation, prepare the appropriate journal entry for the redemption of the bonds.

Business

1 answer:

Arada [10]3 years ago

5 0

Answer and Explanation:

The journal entries are given below:

On Apr. 30

Bonds payable $124,000

Loss on redemption of bonds( bal fig) $18,228

Discount on Bonds payable($124,000 - $111,972) $12,028

Cash ($124,000 × 1.05) 1,30,200

(Being redemption of bonds at 105 is recorded)

On Jun. 30

Bonds payable $162,000

Premium on Bonds payable($174,960 - $162,000) $12,960

Gain on redemption of bonds ( bal fig) $14,580

Cash($162,000 × .99) $160,380

(Being redemption of bonds at 98 is recorded)

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Comparative negligence refers to a legal defense used by the defendant to reduce the amount of damages that a plaintiff can recover. This is based on what percentage of the plaintiff's damages could be attributed to the plaintiff's own negligence.

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3 years ago

module 3 BlockWood Inc. has been providing raw materials to Couches Corp., a furniture company. The management at Couches recent

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The correct answer to this open question is the following.

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3 years ago

holdup bank has an issue of prefered stock witha standard deviation of $7 that just sold for $87 per share. What is the banks co

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Explanation:

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3 years ago

How would a manufacturer benefit by using fewer scarce resources

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A manufacturer tries to benefit by using scarce resources in the following ways -

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3 years ago

On October 1, 2018, Swifty Company places a new asset into service. The cost of the asset is $125000 with an estimated 5-year li

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Answer:

The book value of the plant asset on the December 31, 2018 is $75,000.

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The depreciable cost = Acquisition cost - Salvage value.

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The depreciable cost = $94,500.

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The annual depreciation expense = depreciable cost/useful life

The annual depreciation expense = 94,000/5

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3 years ago