Skip to main content

On January 1, 2014, Peter Co. issued 6% bonds with a face value of $450,000 when the market interest rate was 4%.

1. (1 point)
On January 1, 2014, Peter Co. issued 6% bonds with a face value of $450,000 when the market interest rate was 4%.
The bonds are due in seven years and interest is payable every June 30 and December 31. The effective interest method is used to amortize any bond premium or discount.
Required:Calculate the selling price of the bonds and indicate the associated accounts and dollar amounts to be reported on the Income Statement for the year ended December 31, 2015, and on the December 31, 2015, Balance Sheet. Round all amounts to the nearest dollar.


Selling Price: $_______________________
Account Name ($)
Income Statement: _______________________ ____________
Balance Sheet: _______________________ ____________


2. (1 point)
On January 1, 2014, Piper Co. issued 7% bonds with a face value of $700,000 for $671,612 when the market rate of interest was 8%. Interest is payable on June 30 and December 31, and the effective interest method is used to amortize the bond discount. The December 31, 2016, balance sheet of Piper Co. included the following items:

Bonds payable, due December 31, 2018 $700,000
Unamortized discount on bonds payable 12,704
On April 1, 2017, Piper retired all of the bonds at 96 plus accrued interest.
Required:Prepare the necessary journal entries for the April 1, 2017, bond retirement.
Click Here For More Details on How to Work on this Paper……
Need a Professional Writer to Work on this Paper and Give you a 100 % Original Paper? Click Here and Get this Essay Done………………

Comments

Post a Comment

Popular posts from this blog

Should pit bull terriers be banned in my community

 Discussion Forum: Counterarguments (Should pit bull terriers be banned in my community) You created a question about the topic for your W6 Rough Draft. For this discussion, you will give an answer to that question in the form of a thesis statement. "Dieting Makes People Fat" Main Post: Share your thesis statement with your classmates. Please note: As with last week’s discussion, nothing here is set in stone. Be open to changing everything about your topic, including your position and audience, as you research it and get feedback from your classmates. Topic + Position/Purpose + Supporting Points =Thesis Statement Example: Suppose the question you posed in the Week 5 discussion was something like, “Should pit bull terriers be banned in my community?” After doing some preliminary research, you have concluded that pit bulls, if raised properly, are no more dangerous than other breeds of dogs. Your thesis statement can be something like, “Pitbulls should not be banned
Post a Comment
Read more

Controversy Associated With Dissociative Disorders

 Assignment: Controversy Associated With Dissociative Disorders The  DSM-5-TR  is a diagnostic tool. It has evolved over the decades, as have the classifications and criteria within its pages. It is used not just for diagnosis, however, but also for billing, access to services, and legal cases. Not all practitioners are in agreement with the content and structure of the  DSM-5-TR , and dissociative disorders are one such area. These disorders can be difficult to distinguish and diagnose. There is also controversy in the field over the legitimacy of certain dissociative disorders, such as dissociative identity disorder, which was formerly called multiple personality disorder. In this Assignment, you will examine the controversy surrounding dissociative disorders. You will also explore clinical, ethical, and legal considerations pertinent to working with patients with these disorders. Photo Credit: Getty Images/Wavebreak Media To Prepare · Review this week’s Learning
Post a Comment
Read more

CYBER SECURITY and how it can impact today's healthcare system and the future

 Start by reading and following these instructions: Create your Assignment submission and be sure to cite your sources, use APA style as required, and check your spelling. Assignment: Recommendations Document Due Week 6 (100 pts) Main Assignment Recommendations Document The 1250 to 1500-word deliverable for this week is an initial draft of your recommendations. Note that this is a working document and may be modified based on insights gained in module eight and your professor's feedback. This document should contain the following elements: Summary of your problem or opportunity definition A list of possible recommendation alternatives. In this section, you are not yet at the point of suggesting the best set of recommendations but you are trying to be creative and explore all the different ways that the problem or opportunity might best be addressed. The end result here will be a list of alternatives among which you will choose your final recom
Post a Comment
Read more