Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 442 Weeks Ago, 3 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 19 May 2017 My Price 8.00

Marini Corporation sold $2,600,000, 9%, 20-year bonds on December 31, 2011

 

Marini Corporation sold $2,600,000, 9%, 20-year bonds on December 31, 2011. The bonds were dated December 31, 2011, and pay interest on December 31. The company uses straight-line amortization for premiums and discounts. Financial statements are prepared annually.

Instructions
(a) Prepare the journal entry to record the issuance of the bonds assuming they sold at:
(1) 98.
(2) 104.
(b) Prepare amortization tables for both of the assumed sales for the first three interest payments.
(c) Prepare the journal entries to record interest expense for the first two interest payments under both of the bond issuances assumed in part (a).
(d) Show the long-term liabilities balance sheet presentation for both of the bond issuances assumed in part (a) at December 31, 2012.

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 19 May 2017 10:05 AM My Price 8.00

-----------

Attachments

file 1495188141-259425_1_636307172275046104_259425.xlsx preview (346 words )
Ma-----------rin-----------i C-----------orp-----------ora-----------tio-----------n s-----------old----------- $2-----------,60-----------0,0-----------00,----------- 9%-----------, 2-----------0-y-----------ear----------- bo-----------nds----------- on----------- De-----------cem-----------ber----------- 31-----------, 2-----------011-----------. T-----------he -----------bon-----------ds -----------wer-----------e d-----------ate-----------d D-----------ece-----------mbe-----------r 3-----------1, -----------201-----------1, -----------and----------- pa-----------y i-----------nte-----------res-----------t o-----------n D-----------ece-----------mbe-----------r -----------31.----------- Th-----------e c-----------omp-----------any----------- us-----------es -----------str-----------aig-----------ht------------lin-----------e a-----------mor-----------tiz-----------ati-----------on -----------for----------- pr-----------emi-----------ums----------- an-----------d d-----------isc-----------oun-----------ts.----------- Fi-----------nan-----------cia-----------l s-----------tat-----------eme-----------nts----------- ar-----------e p-----------rep-----------are-----------d a-----------nnu-----------all-----------y.I-----------nst-----------ruc-----------tio-----------ns(-----------a) -----------Pre-----------par-----------e t-----------he -----------jou-----------rna-----------l e-----------ntr-----------y t-----------o r-----------eco-----------rd -----------the----------- is-----------sua-----------nce----------- of----------- th-----------e b-----------ond-----------s a-----------ssu-----------min-----------g t-----------hey----------- so-----------ld -----------at:-----------(1)----------- 98-----------.Da-----------teA-----------cco-----------unt----------- Ti-----------tle-----------s &-----------amp-----------;am-----------p; -----------Exp-----------lan-----------ati-----------onD-----------ebi-----------tCr-----------edi-----------tCa-----------shD-----------isc-----------oun-----------t
Not Rated(0)