CHARITY AND SPONSOR ADS
Shopping Cart
0 items
 

On February 1, 2011, Wolf Inc. issued 10% bonds dated February 1, 2011 with a face value of $200,000

On February 1, 2011, Wolf Inc. issued 10% bonds dated February 1, 2011 with a face value of $200,000
Click to enlarge
Price: $8.99
Availability: In Stock
Model: A
Average Rating: 5 out of 5 Stars!

INSTANT DOWNLOAD

Solution Guide / Answer Key:

ACCOUNTING
J. David Spiceland, James Sepe, and Mark Nelson (2010)
Intermediate Accounting with British Airways Annual Report, 6th Edition  McGraw-Hill
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

 

FILE: MS WORD

Write Review
Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad            Good

Enter the code in the box below:

There are no additional images for this product.