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, 1 Day 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 07 Jun 2017 My Price 5.00

Prepare journal entries to record the purchase of the bonds

On November 1, 2006 the Reid Corporation acquired bonds with a face value of $700,000 for $673,618.61. The bonds carry a stated rate of interest of 10%, were purchased to yield 11%, pay interest semiannually on April 30 and October 31, were purchased to be held to maturity, and are due October 31, 2011. On November 1, 2007, in contemplation of a major acquisition, the bonds were sold for $700,000.
Reid Corporation is on a fiscal year accounting period ending October 31. The company uses the effective interest method.
Required
Prepare journal entries to record the purchase of the bonds, the interest receipts on April 30, 2007 and October 31, 2007, and the sale of the bonds.

Answers

Alpha Geek
(8)
Status NEW Posted 07 Jun 2017 04:06 PM My Price 5.00

-----------

Attachments

file 1496853356-256734_1_636322545327291743_Reid-Corporation.doc preview (266 words )
CE-----------B d----------- bj-----------bj -----------.(d------------T0-----------(HP----------- -f----------- f0-----------,x)-----------p6x-----------)-------------x) -----------x) ----------- J-----------our-----------nal----------- En-----------tri-----------es ----------- On----------- 20-----------09,----------- N-----------ov.----------- 1 ----------- In-----------ves-----------tme-----------nt -----------in -----------Hel-----------d-t-----------o-M-----------atu-----------rit-----------y D-----------ebt----------- Se-----------cur-----------iti-----------es -----------A/c-----------...----------- Dr----------- 67-----------3,6-----------18.-----------61 ----------- To----------- Ca-----------sh ----------- ----------- 6-----------73,-----------618-----------.61----------- ----------- On----------- 20-----------10,----------- A-----------pr -----------30 ----------- Ca-----------sh -----------A/c-----------...----------- Dr----------- ----------- ----------- 3-----------5,0-----------00.-----------00 ----------- -----------To -----------Inv-----------est-----------men-----------t i-----------n H-----------eld------------to------------Ma-----------tur-----------ity----------- De-----------bt -----------Sec-----------uri-----------tie-----------s ----------- 2-----------,04-----------9.0-----------2 ----------- T-----------o I-----------nte-----------res-----------t R-----------eve-----------nue----------- ----------- 3-----------7,0-----------49.-----------02 ----------- Oc-----------t.3-----------1 C-----------ash----------- A/-----------c..-----------. D-----------r ----------- ----------- -----------35,-----------000-----------.00----------- ----------- To----------- In-----------ves-----------tme-----------nt -----------in -----------Hel-----------d-t-----------o-M-----------atu-----------rit-----------y D-----------ebt----------- Se-----------cur-----------iti-----------es ----------- ----------- 2,-----------161-----------.72----------- ----------- To-----------
Not Rated(0)