A firm issued bonds with a par value of $100,000 on 1/1/Xl. The bonds have a stated
interest rate of 8% payable each December 31. The bonds' maturity date is 12/31/XS.
The market interest rate at the time of issuance w
A firm issued bonds with a par value of $100,000 on 111/X1. The bonds have a stated
interest rate of 8% payable each December 31. The bonds' maturity date is 12/31 /X5.
The market interest rate at the time of issuance was 6%; the bonds were issue
Balance Sheet at the beginning of the year for Joe's Plumbing:
Less: allowance for doubtful accounts
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Provide journal entries for the following.
Amortization of a Bond Premium or Discount
Below is information about a bond that a company issued.
Rich Department Store is completing the accounting process for the year just ended, December
31 , 20B. The transactions during 20B have been journalized and posted. The following data
with respect to adjusting entries are available. Prov
Capitalize v. Expense
Expenditures at Acquisition
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New office equipment was purchased by Valley Company at a list price of$36,000. The credit
terms were 2/10, net/30. Payment was made within the discount period. The
Purchase No. 1
Sale No. 1
Purchase No. 2
Sale No. 2
Compute Cost of Goods Sold and En
Depreciation: Financial Reporting and Tax Considerations
On January 1, 20X1, Crimson Company purchased 3 used delivery trucks at a total cost
of$53,000. Before placing the trucks in service, the company spent $1200 painting
them, $1800 replacing tires and
INDIANA UNIVERSITY SOUTH BEND
School of Business & Economics
Course: A201 4074-Introduction to Accounting - 3 cr. Hrs.
Dr. Tracey A. Anderson, JD, LLM, CPA
Professor of Accounting
Office: 208F Administration Building