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
Svetllana [295]
3 years ago
12

Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $800,000 of 10-year, 6% bo

nds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.
May 1. Issued the bonds for cash at their face amount.
Nov. 1. Paid the interest on the bonds.
Dec. 31. Recorded accrued interest for two months.
Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank.
May 1
Nov. 1
Dec. 31
Business
1 answer:
igomit [66]3 years ago
8 0

Answer:

May 1

Dr Cash 800,000

Cr Bonds payable 870,000

Nov 1

Dr Interest expense 24,000

Cr Cash 24,000

Dec 31

Dr Interest expense 8,000

Cr Interest payable 8,000

Explanation:

Thomson Co Journal entries

May 1

Dr Cash 800,000

Cr Bonds payable 870,000

Nov 1

Dr Interest expense 24,000

Cr Cash 24,000

(800,000*6%*6/12)

Dec 31

Dr Interest expense 8,000

Cr Interest payable 8,000

(800,000*6%*2/12)

You might be interested in
Who is deadmau5????????????
emmasim [6.3K]

Answer:

Joel Thomas Zimmerman, known professionally as Deadmau5, is a Canadian electronic music producer, DJ, and musician. Zimmerman produces a variety of styles within the progressive house genre and sometimes other forms of electronic music

Explanation:

8 0
4 years ago
Icu window, inc., is trying to determine its cost of debt. the firm has a debt issue outstanding with ten years to maturity that
aev [14]

Pre-tax cost of debt is calculated as -

Yield to maturity = [ Coupon payment + ( Face value - Price) / Number of periods ] / [ ( Face value - Price) / 2 ]

Coupon payment = 9.6 % / 2 * 1000 = $ 48

Face Value = 1000

Price = 113.5 % * $ 1000 = $ 1135

Number of periods = 20 (i.e. 10 years *2 )

Yield to maturity = [ $ 48 + ( $ 1000 - $ 1135) / 20] / [ ($ 1000 + $ 1135) /2 ]

Yield to maturity = 3.86 %

Annual yield to maturity = 3.86 % * 2 = 7.72 %

5 0
4 years ago
A balanced scorecard for measuring company performance: Select one: a. Balances the drive for profits with social responsibility
Aleks04 [339]

Answer:

b. Entails striking a balance between financial objectives and strategic objectives

Explanation:

The balance score card is the score card that reflects the performance trend from which the organization will be able to take the acts, decisions accordingly.

This may implement measures for financial as well as strategic. The financial could be in terms of income, past performance, solvency, equity, repayment, etc. While the strategic could be in terms of objectives, setting targets and goals so that the business organisation could able to achieve within their prescribed time

4 0
4 years ago
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the
Amanda [17]

Answer:

Journal entries will be as follows;

Explanation:

1.The machine purchased is an asset so machinery a/c will be debited.

The cash used to purchase the machine is an outflow so it's credited on the cash a/c

2. Electricity wiring on the machine is part of the acquisition cost, hence we debit machinery account and the cash paid for that is credited on cash a/c

3. Cost of securing it in place is also an operating cost hence you debit machinery a/c and credit the cash used to pay for it in the cash a/c

<u>Journal entries</u>

1. Machinery account Dr      192,000

Cash account Cr                                        192,000

2.Machinery account Dr       8,000

  Cash account Cr                                           8,000

3.Machinery account Dr       1,600

  Cash account Cr                                           1,600

8 0
3 years ago
High-pressure systems typically form over the atlantic ocean during the summer. if such systems did not form as often, _______ w
Degger [83]
The answer to this question is: <span> South Carolina; drier
</span> Circulation of surface wind and ocean water is run against clock direction in the Northern Hemisphere and the <span>Surface currents generally move outward from system's center
</span><span>This will reduce the air masses in the southern hemisphere and make that region become drier.</span>
7 0
4 years ago
Other questions:
  • Certain car companies offer performance cars at affordable prices, but in doing so they contribute to climate and environmental
    5·1 answer
  • Junkyard Arts, Inc., had earnings of $593,900 for the year.
    7·1 answer
  • GoodFurn Furniture Company has recently moved to a new, larger location. At the new location, it has been unable to attract suff
    7·1 answer
  • Albinson Company paid $96,000 for a two-year insurance policy on October 1 and recorded the $96,000 as a debit to Prepaid Insura
    13·1 answer
  • A condensed income statement by product line for British Beverage Inc. indicated the following for King Cola for the past year:
    11·1 answer
  • If the prices of all goods and services produced in the economy rose while the quantity of all goods and services stayed the sam
    5·2 answers
  • My next photo How's it​
    15·1 answer
  • Which of the following is one of the value gaps that can undermine customer experiences and can damage relationships?
    14·1 answer
  • On August 25, a privately owned company exchanged 10,000 shares of its private common stock for land. There is no readily availa
    8·1 answer
  • The contribution billy freniere's employer makes to his retirement plan depends on the profits of the company. what type of reti
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!