Sunday
April 20, 2014

Homework Help: Accounting

Posted by Cindy on Friday, February 13, 2009 at 11:25am.

The Dec. 31, 2001, balance sheet includes the following items:

9% bonds payable due 12/31/2010 $800,000
Discount on bonds payable $21,600

The bonds were issued on December 31, 2000, at 97, with interest payable on June 30 and December 31 of each year. The straight-line method is used for discount amortization.

On March 1, 2002, they retired $400,000 of these bonds at 98 plus accrued interest. Prepare the journal entries to record retirement of the bons, including accrual of interest since the last payment and amortization of the discount.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

accounting - On December 31, 2013, a company issues bonds with a par value of $...
accounting - On July 1, 2010, Brower Industries Inc. issued $8,900,000 of 9-year...
accounting - On April 1, 2008, Company issued $600,000, 9% bonds for $645, 442 ...
accounting - 4/4/04, Corporation, which has a 12/31 year end authorized $1,500,...
accounting - JTD Corporation issued $800,000 of 20-year, 12% bonds on January 1...
accounting - I don't know if the answer is $0 or $1,000,000. One part says it's ...
accounting - On December 31, 2013, a company issues bonds with a par value of $...
Accounting - Prepare the entry to record the accrued interest and the ...
Intermediate Accounting - The 10% bonds payable of Klein Company had a net ...
accounting - 1.On December 15, 2012, Pascal declared a cash dividend of $2.00 ...

Search
Members