Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

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: 401 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 12.00

Water Sports Company

Water Sports Company (WSC) patented and successfully test-marketed a new product. To expand its ability to produce and market the new product, WSC needs to raise $800,000 of financing. On January 1, 2011, the company obtained the money in two ways:

a. WSC signed a $400,000, 10% installment note to be repaid with five equal annual installments to be made on December 31 of 2011 through 2015.

b. WSC issued five-year bonds with a par value of $400,000. The bonds have a 12% annual contract rate and pay interest on June 30 and December 31. The bonds’ annual market rate is 10% as of January 1, 2011.

Required

1. For the installment note, (a) compute the size of each annual payment, (b) prepare an amortization table such as Exhibit 14.14, and (c) prepare the journal entry for the first payment.

2. For the bonds, (a) compute their issue price; (b) prepare the January 1, 2011, journal entry to record their issuance; (c) prepare an amortization table using the straight-line method; (d) prepare the June 30, 2011, journal entry to record the first interest payment; and (e) prepare a journal entry to record retiring the bonds at a $416,000 call price on January 1, 2013.

3. Redo parts 2(c), 2(d), and 2(e) assuming the bonds are amortized using the effective interest method.

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 PM My Price 12.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- Â-----------  -----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

Not Rated(0)