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I need help with 5 questions. I have to email this...

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I need help with 5 questions. I have to email this assignment to my professor by tonight. I completed them but I ave no way of checking them to make sure if they are right or not. I will upload the questions, If you could email them back on an excel doc that would be great. ew104@eagle.pbu.edu,here is the file,1. On January 1, 2010, Potter Corporation issued $800,000, 9%, 5-year bonds for $769,112. The bonds were sold to yield an effective-interest rate of 10%. Interest is paid semiannually on June 30 and December 31. The company uses the effective-interest method of amortization. Instructions (a) Prepare a bond discount amortization schedule which shows the amortization of discount for the first two interest payment dates. (Round to the nearest dollar.) (b) Prepare the journal entries that Potter Corporation would make on January 1, June 30, and December 31, 2010, related to the bond issue. 2. On January 1, 2010, Fabian Enterprises issued 9%, 10-year bonds with a face amount of $900,000 at 96. Interest is payable semiannually on June 30 and December 31. The bonds were issued for an effective interest rate of 10%. Instructions Prepare the entries to record the issuance of the bonds and the first semiannual interest payment assuming that the company uses effective-interest amortization. 3. Weaver Company has the following data at December 31, 2010 for its securities. Securities Cost Fair Value Trading $90,000 $92,000 Available-for-sale 74,000 71,000 Instructions (a) Prepare the adjusting entries to report the securities at fair value. (b) Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities. 4. On April 25, Donnoly Company buys 4,200 shares of Carpenter common stock for $92,500, plus brokerage fees of $2,000. On October 31, Donnoly sells 600 shares of Corpenter stock for $15,500, less brokerage fees of $500. Prepare journal entries for the purchase and sale of the Carpenter common stock. 5. Stone Company had the following transactions pertaining to short-term investments in equity securities. Jan. 1 Purchased 1,500 shares of Quayle Company stock for $9,150 cash plus brokerage fees of $300. June 1 Received cash dividends of $.50 per share on Quayle Company stock. Sept. 15 Sold 400 shares of Quayle Company stock for $2,500 less brokerage fees of $100. Dec. 1 Received cash dividends of $.50 per share on Quayle Company stock. Instructions (a) Journalize the transactions. (b) Indicate the income statement effects of the transactions

 

Paper#6381 | Written in 18-Jul-2015

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