quiz A-answer - Dec 18 Treasury...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ANSWER TO QUIZ A 1-5EECAE 6-10CAEEE 11-15CCABA PROBLEM 1. 2. May 5, Cash…………………………….77500 (50*1550) Preferred stock……………………….77500 Oct 20, Cash…………………………….55000 (55*1000) Preferred stock………………………………….50000 (50*1000) Paid-in capital in excess of par value, preferred stock.5000(5*1000) Nov.1, Retained earnings………………………. .25,000 Common Dividend Payable………………………25,000 (0.50*50,000) Dec 1 Common Dividend Payable………………………25,000 (0.50*50,000) Cash ……………………………………………….25,000 Dec 8, Building………………………………….135,000 Common stock, $5par value……………………….10,000(2000*5) Paid-in capital in excess of par value, common stock…….125,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Dec 18 Treasury Stock………………………………. .8000 Cash …………………………………………………8000(8*1,000) 3. 4.a. Cash………………….3024000 Discount on bonds payable………476000 (3500,000-3024,000) Bond payable……………………. .3500,000 b. interest expense=3500,000*8%*15+476000=3500,000*8%*30/2+(3500,000-3024,0 00)=4200,000+476000=4676000 c.June 30, interest expense…………………………….155867 discount on bonds payable…………………15,867(476000/15/2) cash ………………………………140,000(3500,000*8%/2) Dec 31 interest expense…………………………….155867 discount on bonds payable…………………15,867(476000/15/2) cash ………………………………140,000(3500,000*8%/2)...
View Full Document

This note was uploaded on 11/07/2010 for the course BBA 1023 taught by Professor Luoyi during the Spring '10 term at University of Macau.

Page1 / 2

quiz A-answer - Dec 18 Treasury...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online