Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 307 Weeks Ago, 4 Days Ago
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Education

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

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Jul 2017 My Price 3.00

Wolf Inc.


On February 1, 2011, Wolf Inc. issued 10% bonds dated February 1, 2011 with a face value of $200,000. The bonds sold for $239,588 and mature in 20 years. The effective interest rate paid semiannually on July 31 & January 31. Wolf's fiscal year is the calendar year. Wolf uses the effective interest method of amortization.

a. Prepare the journal entry to record the bond issuance on February 1 ,2011
b. Prepare the entry to record interest on July 31, 2011
c. Prepare necessary journal entry on December 31,2011
d. Prepare the necessary journal entry on January 31, 2012

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Jul 2017 09:07 AM My Price 3.00

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