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Show work, 2 accounting questions




1. On January 1, 2013, Carter Corporation issued $5,000,000, 10-year, 8% bonds at 103. Interest is payable semiannually on January 1 and July 1. What is the journal entry to record this transaction on January 1, 2013?;2. long term debt in the for of bonds payable. On January 1, 2007, the ABC Corporation issued 10% bonds with a face value of $100,000. The bonds are sold for $98,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2011. Queen records straight-line amortization of the bond discount. What is the bond interest expense for the year ended December 31, 2007 one year after issued?;what would be the entry to record the interest payment and interest excpense for the first semiannual payment for June 30, 2007?


Paper#75797 | Written in 18-Jul-2015

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