Alpha Company purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid semi-annually on June 30. The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the adjusting General Journal entry (without explanation) for the December 31, 2017. If no entry is required then write "No Entry Required."
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Alpha Company purchased a $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid semi-annually on June 30. The straight line ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The following information is available for Patrick Products for the year: Budgeted sales during the year 5,000 units Actual sales during the year 4,500 units Budgeted machine hours required for the year 10,000 hours Actual machine-hours during the
Answers (1)
At the beginning of the year, Penny's "tax basis" capital account balance in the PAL Partnership was $60,000. During the tax year, Penny contributed property with a basis of $10,000 and a fair market value of $30,000.
Answers (1)
Oscar has negotiated a lease for his sporting goods store in which he is required to pay $3,000 per month in rent. oscar pays his staff $12 per hour to sell sporting goods, depending on his total hours of operation.
Answers (1)
Madison company issued an interest-bearing note payable with a face amount of $31,200 and a stated interest rate of 8% to the metropolitan bank on august 1, year 1. the note carried a one-year term.
Answers (2)
Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is due on June 30, 2012. On September 30, 2011, Ireland discounted the note at Cloverdale bank.
Answers (1)
New Questions in Business
ABC Electronics wants someone to install in its two buildings a top-of-the-line burglar-alarm system, which will not only sound an alarm but also simultaneously notify authorities and the company president.
Answers (1)
According to the 2018 Value Line Investment Survey, the growth rate in dividends for Ralph Lauren for the next five years will be. 5 percent. If investors feel this growth rate will continue, what is the required return for the company's stock?
Answers (1)
John was driving his car in a careless way, failing to drive as a reasonably prudent person would under the driving conditions. Ramona was crossing the street in a careless way, failing to cross as a reasonably prudent person would.
Answers (1)
The logic of industry analysis implies that in industries with high barriers to entry, existing firms will be less profitable than those in industries with low barriers to entry because of the high cost of entering the industry. A. True B. False
Answers (1)
What is the Gross Domestic Product (GDP) ?
Answers (1)