Recent questions in Accounting

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fatima-0.1-avatar
over 4 years ago

Prepare the journal entry, Prepare the adjusting entry, bond investors for interest accrued?

On March 31, 2011, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire** issue was dated March 31, 2011**, but the bonds were not issued until April 30, 2011. They were issued at face value. a. Prepare the journal entry_ _at April 30, 2011, to record the sale of the bonds. b. Prepare the journal entry at September 30, 2011, to record the semiannual bond interest payment. c. _**Prepare the adjusting entry **_at December 31, 2011, to record bond interest expense accrued since September 30, 2011. (Assume that no monthly adjusting entries to accrue interest expense had been made prior to December 31, 2011.) d. Explain why the issuing corporation charged its bond investors for interest accrued in April 2011, prior to the issuance date (see part b above).
0
mind-m-avatar
over 4 years ago

How to do? please answer

E17.22 (L04) HIT (Impairment) Komissarov SA has a debt investment in the bonds issued by Keune AG The bonds were purchased at par for € 400,000 and, at the end of 2019, have a remaining life of 3 years with annual interest payments at 10%, paid at the end of each year. This debt investment is classified as held-for-collection. Keune is facing a tough economic environment and informs its investors that it will be unable to make all payments according to the contractual terms. The con troller of Komissarov has prepared the following revised expected cash flow forecast for this bond investment. ++Dec. 31++ ++Expected Cash Flows++ 2020                        € 35,000 2021                             35,000 2022                          ++385,000++ total cash flow      ++€ 455,000++ Instructions a. Determine the impairment loss for Komissarov at December 31, 2019. b. Prepare the entry to record the impairment loss for Komissarov at December 31, 2019. c. On January 15, 2020, Keune receives a major capital infusion from a private equity investor. It informs Komissarov that the bonds now will be paid according to the contractual terms. Briefly describe how Komissarov would account for the bond investment in light of this new information.
0
katherine21000-avatar
about 7 years ago

Does anyone still have NCEA notes?

Urgent Need Of NCEA Notes In All Levels Of Accounting.
0
marphy-avatar
about 12 years ago

Define process?

Hi I am preparing my presentation on management and need to explain process from management perspective, please help.
0
francyne-avatar
over 12 years ago

Kindly provide the details of large trades organizations.

Hi Docsity Q n A contributors, my question is that what are ther basis of a large trades organization.
0
francyne-avatar
over 12 years ago

Do you know some thing about the electronic exchanges organizations?

Hi all! I have lost all hope but I believe this forum can help me. Please provide the details of my question.
0
1-6 of 19

. Which financial statement reports a company’s financial position at a specific point in time?

) Income Statementb) Balance Sheetc) Cash Flow Statementd) Statement of Retained EarningsAnswer: b) Balance Sheet
15
Solved

What are the basic requirements to learn Cloud Computing?

What are the basic requirements to learn Cloud Computing?
8
jeon-13-avatar
almost 2 years ago

what is accounting classification

the basic accounting may be expressed as
15
Solved

Alguien que me ayude con un trabajo de Contabilidad.

Es con respecto al Plan General Contable de España. ​
1
ruto-watanabe-avatar
over 2 years ago

what are the best sites for accountancy students?

badly needed especially for worksheet
6
zyn_s-avatar
almost 3 years ago

How can I easily determine which account does a something falls

How can I know which account does a "something" falls to? Ex. Notes payable which account does it falls?
3
1-6 of 647
francyne-avatar
over 12 years ago

Tell me about the details of NYSE as a marketing organization.

Hi all! This seems way too difficult for me, let me try to explain the marketing organization called as NYSE.
0
jesus33-avatar
over 12 years ago

Any one on this forum who can elaborate the financial reporting principle of time period assumption?

There must be a person out there who knows the details of 'Time Period Assumption' as a financial reporting principle.
1
mikaell-avatar
over 12 years ago

List some details of corporation characteristic called corporation management.

Help me mates. I need details of a Corporation management.
8
francyne-avatar
over 12 years ago

How can you define a marketing organization type called OTC?

Can some one out in the Docsity world provide the details of the "OTC" as a marketing organization?
1
thecoral-avatar
over 12 years ago

What are the different types of financial statements?

I have an important test next week. I need the information for financial statements types.
8
francyne-avatar
over 12 years ago

Do you know some thing about the electronic exchanges organizations?

Hi all! I have lost all hope but I believe this forum can help me. Please provide the details of my question.
0
1-6 of 647
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