Homework Answers
| Available for sale securities are the investment which are not expected be held till maturity nor be sold in near future. They are reported at fair value on the balance sheet. Any unrealised gain or losses on account of change in the fair value is reported in Other Comprehensive Income. They are not passed through income statement. Once the investment is sold, the unrealized gain or loss is transferred to income statement. | ||||
| Date | Account Title | Debit | Credit | |
| Dec 31, 2018 | Unrealized gain/loss – other comprehensive income account | $400 | [$3200-$2800] | |
| Investment in Available for sale securities | $400 | |||
| (To record fair value adjustment to the securities) | ||||
Add Answer to:
9. on 20.2011 Me decim 2001 in bond year on December 2011 them e of the...
eBook Show Me How Calculator Print Item Entries for Bonds Payable, including bond redemption The following...
eBook Show Me How Calculator Print Item Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 2011 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 2011, at a market (effective) rate of 7%, receiving cash of $62,817,040 Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is...
A 10-year 8% bond issued by Holiday Shipping sells for $679.40 on January 1, 2011. The...
A 10-year 8% bond issued by Holiday Shipping sells for $679.40 on January 1, 2011. The bond matures on December 31, 2017. Assume that the bond is held until it’s maturity, and determine the IRR. The bond’s face value is $1000, and interest is paid semiannually. (Answer: 16.3%) Please show work. Mainly I don't understand the terminology of bonds maturing and what a face value is.
A payment of $10 is made on 31st December of each year from 2001 to 2012....
A payment of $10 is made on 31st December of each year from 2001 to 2012. Force of interest is 8% p.a. What is the value of all payments accumulated on 31 December 2013?
The following is a partial balance sheet for Nevermore Corporation for the year ended December 31,...
The following is a partial balance sheet for Nevermore Corporation for the year ended December 31, 2011: 9 percent convertible Bonds (issued at par) $1,800,000 Common stock, 180,000 shares issued and outstanding, $50 par 9,000,000 a. Each $1,000 convertible bond can be converted into 80 shares of common stock. b. On September 1, 2011, one-third of the convertible debt was converted into common stock. c. Nevermore reported net income of $1,550,000 in 2011. The tax rate was 30 percent. d....
Hra 151 25 4. ABC Corp. issued a 25-year maturity bond in 2001 with 7.5 percent...
Hra 151 25 4. ABC Corp. issued a 25-year maturity bond in 2001 with 7.5 percent coupon paid semi-annually. The bond has a face value of $1,000. You bought the bond in 2009 when the yield to maturity on this bond was 7.8 percent. You sold the bond in 2013 when the yield to maturity on the same bond increased to 10.6 percent. What is the percentage change in the price of this bond from 2009 to 2013? (5 points)...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as liabilities: a. Depreciation on the company's equipment for 2011 is computed to be $16,000 b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An...
For the year ended December 31, 2011, the partnership of Charles and Paul had book income...
For the year ended December 31, 2011, the partnership of Charles and Paul had book income of $75,000, which included the following: (a) Short-term capital loss, $3,100; (b) Long-term capital gain (on sale of securities), $4,300; (c) Section 1231 gain, $1,500; (d) Ordinary income (Section 1245 recapture), $600; and (e) Domestic dividends, $1,000. The partners share profits and losses equally. What is each partner’s share of partnership taxable income (excluding all partnership items which must be accounted for separately) to...
On 1/1/2011, Shamrock Corporation issued a 10-year $2,950,000 bond with stated interest rate of 8%. Interests...
On 1/1/2011, Shamrock Corporation issued a 10-year $2,950,000 bond with stated interest rate of 8%. Interests were payable annually on 12/31. The bond was issued for $3,157,196 cash. Shamrock used the effective interest method to amortize any bond discount/ premium using. a. what is the interest rate for the bond? b. Prepare journal entries on 1/1/2011 and 12/31/2011 for shamrock c. After paying interests due on 12/31/2015, Shamrock recalled 70% of the bond at 101. Call expenses totaled $5,500. Prepare...
On December 31, 2010, Company Parent issued a 3-year, 10% annual coupon bond with a face...
On December 31, 2010, Company Parent issued a 3-year, 10% annual coupon bond with a face value of $100,000. In 2011, Company Parent purchases digital recording machinery for $55,000. The equipment has an estimated useful life of five years and an estimated salvage value of $11,000. The company expects to produce 20,000 units of output using this machinery, with 6,000 units in each of the first two years, 3,000 units in the next two years, and 2,000 units in the...
If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year...
If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year end gross receivable)" does this mean to use the average of the begining and end of the year or just the end for gross receivables also what formula should I use ? thanks
eBook Show Me How Calculator Print Item Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 2011 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 2011, at a market (effective) rate of 7%, receiving cash of $62,817,040 Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is...
Hra 151 25 4. ABC Corp. issued a 25-year maturity bond in 2001 with 7.5 percent coupon paid semi-annually. The bond has a face value of $1,000. You bought the bond in 2009 when the yield to maturity on this bond was 7.8 percent. You sold the bond in 2013 when the yield to maturity on the same bond increased to 10.6 percent. What is the percentage change in the price of this bond from 2009 to 2013? (5 points)...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as liabilities: a. Depreciation on the company's equipment for 2011 is computed to be $16,000 b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An...
Most questions answered within 3 hours.
-
Leadership Philosophy
Write a two-page paper identifying your personal leadership
philosophy based on your new perspective...
asked 1 minute from now -
In Chapter 1 titled "So Close and Yet So Different", in "Why
Nations Fail" authors bring...
asked 1 minute ago -
Assume that the correlation coefficient between achievement test
scores (X) and grade point averages (Y) among...
asked 4 minutes ago -
Which of these function correctly defines the function g(),
which should return a pointer to a...
asked 7 minutes ago -
Pickett Industries just paid a dividend of D0 = $1.10. Analysts
expect the company's dividend to...
asked 7 minutes ago -
Suppose a random sample of 900 measurements is taken from an
unknown population. The average of...
asked 10 minutes ago -
Suppose we add another SRC instruction xor ra, rb, rc that xors
the contents of registers...
asked 11 minutes ago -
Hello, I need some help creating this class in Java. This is for
a larger project....
asked 32 minutes ago -
Why does entrepreneurs trying to employ AI into their
business organizations? What are the advantages and...
asked 30 minutes ago -
// This program is supposed to display every fifth year
// starting with 2017; that is,...
asked 32 minutes ago -
for each of the following situation, explain in what way the
experimentally determine molecular weight would...
asked 38 minutes ago -
Meiosis makes _____ cells, mitosis makes _____ cells
diploid, haploid
No answer text provided.
diploid, diploid...
asked 44 minutes ago