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Sheridan said: I have no idea how to do this HELP!
1.value:
15 points Problem 14-2A Straight-line amortization of bond discount and bond premium L.O. P1, P2, P3
Braeburn issues $3,000,000 of 8%, 15-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31.
Requirement 1:
Assume that the bonds are issued at a price of $2,592,000.
(a) Prepare the January 1, 2009, journal entry to record the bonds' issuance. (Omit the "$" sign in your response.)
Date General Journal Debit Credit
Jan. 1 2009 (Click to select)CashHeathrow CapitalDiscount on Bonds PayablePremium on Bonds PayableBonds Payable
(Click to select)CashPremium on Bonds PayableBonds PayableDiscount on Bonds PayableHeathrow Capital
(Click to select)CashBonds PayableBond Interest ExpenseDiscount on Bonds PayableSundry Expenses
--------------------------------------------------------------------------------
(b) For each semiannual period, compute the following (Round your answers to the nearest dollar amount. Omit the "$" sign in your response):
Cash payment $
Straight-line discount amortization $
Bond interest expense $
(c) Determine the total bond interest expense to be recognized over the bonds' life. (Omit the "$" sign in your response.)
Total bond interest expense $
(d) Use the straight-line method to amortize the discount for these bonds like the one in Exhibit 10.7. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)
Semiannual Period-End Unamortized Discount Carrying
Value
1/01/2009 $ $
6/30/2009
12/31/2009
6/30/2010
12/31/2010
--------------------------------------------------------------------------------
(e) Prepare the journal entries to record the first two interest payments. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
June 30 2009 (Click to select)Sundry ExpensesBonds PayableDiscount on Bonds PayableBond Interest ExpenseCash
(Click to select)Bond Interest ExpenseCashPremium on Bonds PayableSundry ExpensesDiscount on Bonds Payable
(Click to select)CashPremium on Bonds PayableDiscount on Bonds PayableBond Interest ExpenseSundry Expenses
Dec. 31 2009 (Click to select)Bond Interest ExpenseProfit & LossBonds PayableDiscount on Bonds PayableCash
(Click to select)Discount on Bonds PayableCashPremium on Bonds PayableSundry ExpensesBond Interest Expense
(Click to select)Sundry ExpensesPremium on Bonds PayableBond Interest ExpenseCashDiscount on Bonds Payable
--------------------------------------------------------------------------------
Requirement 2:
Assume that the bonds are issued at a price of $3,672,000.
(a) Prepare the January 1, 2009, journal entry to record the bonds' issuance. (Omit the "$" sign in your response.)
Date General Journal Debit Credit
Jan. 1 2009 (Click to select)Premium on Bonds PayableCashBonds PayableDiscount on Bonds PayableSundry Expenses
(Click to select)Bonds PayableDiscount on Bonds PayableCashPremium on Bonds PayableSundry Expenses
(Click to select)Discount on Bonds PayableBonds PayablePremium on Bonds PayableCashSundry Expenses
--------------------------------------------------------------------------------
(b) For each semiannual period, compute the following (Round your answers to the nearest dollar amount. Omit the "$" sign in your response):
Cash payment $
Straight-line premium amortization $
Bond interest expense $
(c) Determine the total bond interest expense to be recognized over the bonds' life. (Omit the "$" sign in your response.)
Total bond interest expense $
(d) Use the straight line method to amortize the discount for these bonds like the one in Exhibit 10.7. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)
Semiannual Period-End Unamortized Premium Carrying
Value
1/01/2009 $ $
6/30/2009
12/31/2009
6/30/2010
12/31/2010
--------------------------------------------------------------------------------
(e) Prepare the journal entries to record the first two interest payments. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
June 30 2009 (Click to select)Premium on Bonds PayableInterest PayableBond Interest ExpenseDiscount on Bonds PayableCash
(Click to select)Discount on Bonds PayableBond Interest ExpensePremium on Bonds PayableInterest PayableCash
(Click to select)CashBonds PayableBond Interest ExpensePremium on Bonds PayableInterest Payable
Dec. 31 2009 (Click to select)CashBonds PayablePremium on Bonds PayableInterest PayableBond Interest Expense
(Click to select)Bonds PayableInterest PayableCashPremium on Bonds PayableBond Interest Expense
(Click to select)Interest PayableSundry ExpensesPremium on Bonds PayableBond Interest ExpenseCash
--------------------------------------------------------------------------------
Check My WorkReferences
Worksheet Problem 14-2A Straight-line amortization of bond discount and bond premium L.O. P1, P2, P3
posted about 1 year ago
Paul said: Complete the following problems, using Excel where applicable: 5, 11, 12, & 18.
5. If you hold only $100 in cash at any time, what is your maximum short-term borrowing and when? (See quarterly working capital levels for the firm in the table on pg 641 in the text).
11. The Needy Corporation borrowed $10,000 from Bank Ease. According to the terms of the loan, Needy must pay the bank $400 in interest every three months for the three-year life of the loan, with the principal to be repaid at the maturity of the loan. What effective annual rate is Needy paying?
12. The Treadwater Bank wants to raise $1 million using three-month commercial paper. The net proceeds to the bank will be $985,000. What is the effective annual rate of this financing for Treadwater?
18. Construct a short-term financial plan for Springfield Snowboards based on its expansion opportunity depicted in Table 19.4. Assume that Springfield ends 2009 with $1 million in cash and that its bank will offer it a short-term loan at the rate 2.5% per quarter.
posted about 1 year ago
Paul said: 1. A firm has a committed line of credit with a maximum of $10 million and an interest rate of 8.5% (EAR) with a certain bank. The commitment fee is 0.5% (EAR). The firm borrows $2 million at the start of the year and then repays it at the end of the year. What is the total cost of the loan?
2. A firm has a committed line of credit with a maximum of $1.2 million and an interest rate of 12% (EAR) with a certain bank. The commitment fee is 0.6% (EAR). The firm borrows $500,000 at the start of the year and then repays it at the end of the year. What is the total cost of the loan?
3. Crimini Foods is offered a $400,000 line of credit for six months at an APR of 10%. This loan has a loan origination fee of 2%. What is the actual six-month interest rate paid, expressed as an EAR?
4. Carborundum Metals issues commercial paper with a face value of $1,000,000 and a maturity of three months. Carborundum receives net proceeds of $992,000 when it sells the paper. If the prime rate is 8% APR compounded quarterly, how much savings in interest did Carborundum realize by accessing the commercial paper market?
5. Gemini Real Estate is offered a $2 million line of credit for four months at an APR of 9%. This loan has a loan origination fee of 1.5%. What is the actual four-month interest rate paid, expressed as an EAR?
6. A firm issues three-month commercial paper with $200,000 face value and receives $192,000. What is the EAR the firm is paying for these funds?
posted about 1 year ago
Daniel said: “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
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-- “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
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posted 10 months ago
Daniel said: “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
-- “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
For more information on <a href="http://wwww.accountinghomeworkhelp.org"> Accounting Homework Help </a> visit accountinghomeworkhelp.org.
posted 10 months ago
Daniel said: “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
-- “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
For more information on <a href="http://wwww.accountinghomeworkhelp.org"> Accounting Homework Help </a> visit accountinghomeworkhelp.org.
posted 10 months ago
Daniel said: “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
-- “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
For more information on <a href="http://wwww.accountinghomeworkhelp.org"> Accounting Homework Help </a> visit accountinghomeworkhelp.org.
posted 10 months ago
Daniel said: “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
-- “When in need, Google!” has become the single solution for all and any problem under the sun. Your accounting homework problems are no exception to this. By the time you settle down in college after finding campus routes, remembering locker codes and making new friends, your homework pile (so far invisible) will start to haunt you all of a sudden. “I am working my guts out!” will become a common saying. To add to this, your class schedules mixed up with your personal time is sure to stress you out.
There is nothing wrong in toiling with the above said situation if there is no other go. But FYI there ARE resources to help you out in times of homework overload. Professional accounting experts are available online for a variety of services in academic assistance- starting from EDU chats for your quick questions to the level of project management for your entire course.
You can choose according to your need and the time you plan to spend on your homework. Reviews, corrections, improvements and live help from online experts are the boon of technology to aspiring account grads. You can submit a completed homework for a review or enhancement on many of these websites at most competitive prices. This could be a learning opportunity if you go through the enhanced solution and understand your improvement areas and not submit the assignment blindly. In case of project works, services offered include topic selection, data compilation, report writing and online research assistance.
When the time comes for deciding your specializations for your career, these same experts could render valuable advice on opportunities and options. Some sites can even forge a few career introductions for you once you complete your education. In most cases, if you use the academic services of the website for a preset duration as prescribed by the site, the career advice is rendered free of cost. By making use of these online educational services, you will be one step ahead of your friends not only in your assignment marks but your skill and information as a grad as well.
For more information on <a href="http://wwww.accountinghomeworkhelp.org"> Accounting Homework Help </a> visit accountinghomeworkhelp.org.
posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
Daniel said: Article: The essentiality of finance in the practical world and its applicable evolution is discussed in detail. Accompanying fields such as accounting, economics, audit etc; are discussed in brief. The article throws light on the allied practices of financial management and possible careers related to them. Though the main focus of the article is to expound modes of expert help for aspiring finance management grads, a deep look-in is discussed on the real world application of the said academic field in order to familiarize the subject to freshmen deciding finance as a course and pursuing grads looking for specializations effective for their career. posted 10 months ago
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