Business, 10.04.2020 03:40 swaggirllely36
The Bradford Company issued 10% bonds, dated January 1, with a face amount of $98 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31.
Required:
a. Determine the price of the bonds at January 1, 2016.
b. Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2016.
c. Prepare the journal entry to record interest on June 30, 2016 (at the effective rate).
d. Prepare the journal entry to record interest on December 31, 2016 (at the effective rate).
Answers: 1
Another question on Business
Business, 21.06.2019 20:30
What does the phrase limited liability mean in a corporate context?
Answers: 2
Business, 22.06.2019 04:00
Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.
Answers: 2
Business, 22.06.2019 20:30
Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.
Answers: 3
Business, 22.06.2019 23:00
You cannot make copies of media, even as a personal backup, without violating copyright. true
Answers: 3
You know the right answer?
The Bradford Company issued 10% bonds, dated January 1, with a face amount of $98 million on January...
Questions
Mathematics, 26.02.2020 23:10
Chemistry, 26.02.2020 23:10
English, 26.02.2020 23:10
