Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 21 Aug 2017 My Price 5.00

Jamona Corp

On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable December 31 of each year. The company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale. The fair value of the bonds at December 31 of each year is as follows: • 2006 – $320,500 • 2007 – $309,000 • 2008 – $308,000 • 2009 – $310,000 • 2010 – $300,000 Prepare the amortization table on the investment in bond. Prepare the entries on the investment in bond on 1/1/06, the interest revenue and the amortization of the premium on 12/31/07, and the adjustment of the investment position to fair value on 12/31/07.

Answers

(5)
Status NEW Posted 21 Aug 2017 06:08 PM My Price 5.00

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