menu
bartleby
search
close search
Hit Return to see all results
Subscribe
Sign in

Business
AccountingCornerstones of Financial Accounting4th Edition

close solutoin list
Chapter 9, Problem 77E
BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

Solutions

Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 11DQ
Problem 12DQ
Problem 13DQ
Problem 14DQ
Problem 15DQ
Problem 16DQ
Problem 17DQ
Problem 18DQ
Problem 19DQ
Problem 20DQ
Problem 21DQ
Problem 22DQ
Problem 1MCQ
Problem 2MCQ
Problem 3MCQ
Problem 4MCQ
Problem 5MCQ
Problem 6MCQ
Problem 7MCQ
Problem 8MCQ
Problem 9MCQ
Problem 10MCQ
Problem 11MCQ
Problem 12MCQ
Problem 13MCQ
Problem 14MCQ
Problem 15MCQ
Problem 16MCQ
Problem 17MCQ
Problem 18MCQ
Problem 19MCQ
Problem 20MCQ
Problem 21MCQ
Problem 22CE
Problem 23CE
Problem 24CE
Problem 25CE
Problem 26CE
Problem 27CE
Problem 28CE
Problem 29CE
Problem 30CE
Problem 31CE
Problem 32CE
Problem 33CE
Problem 34CE
Problem 35CE
Problem 36CE
Problem 37CE
Problem 38CE
Problem 39CE
Problem 40CE
Problem 41CE
Problem 42CE
Problem 43CE
Problem 44BE
Problem 45BE
Problem 46BE
Problem 47BE
Problem 48BE
Problem 49BE
Problem 50BE
Problem 51BE
Problem 52BE
Problem 53BE
Problem 54BE
Problem 55BE
Problem 56BE
Problem 57BE
Problem 58BE
Problem 59BE
Problem 60BE
Problem 61BE
Problem 62BE
Problem 63BE
Problem 64BE
Problem 65BE
Problem 66E
Problem 67E
Problem 68E
Problem 69E
Problem 70E
Problem 71E
Problem 72E
Problem 73E
Problem 74E
Problem 75E
Problem 76E
Problem 77E
Problem 78E
Problem 79E
Problem 80E
Problem 81E
Problem 82E
Problem 83E
Problem 84E
Problem 85E
Problem 86E
Problem 87E
Problem 88E
Problem 89E
Problem 90E
Problem 91PSA
Problem 92PSA
Problem 93PSA
Problem 94PSA
Problem 95PSA
Problem 96PSA
Problem 97PSA
Problem 98PSA
Problem 99PSA
Problem 91PSB
Problem 92PSB
Problem 93PSB
Problem 94PSB
Problem 95PSB
Problem 96PSB
Problem 97PSB
Problem 98PSB
Problem 99PSB
Problem 100C
Problem 101.1C
Problem 101.2C
Problem 102.1C
Problem 102.2C
Problem 102.3C
Problem 102.4C
Problem 103.1C
Problem 103.2C
Problem 103.3C
Problem 103.4C
Problem 104.1C
Problem 104.2C
Problem 104.3C
Problem 104.4C
Problem 105.1C
Problem 105.2C
Problem 105.3C
Problem 105.4C
Problem 105.5C
Problem 105.6C
Problem 105.7C
Problem 106.1C
Problem 106.2C
Problem 106.3C
BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
1 views

Exercise Zero Coupon Bond

Johnson Company sold for $90.000 a $102,400, 2-year zero coupon bond on January 1, 2020. The bond matures on December 31, 2021.

Required:

  1. Prepare the entry to record the issuance of the bond.
  2. Prepare the adjusting entry to recognize 2020 interest expense.
  3. Prepare the entry to recognize the 2021 interest expense and the repayment of the bond on December 31, 2021.

To determine

(a)

Introduction:

A bond is long term liability wherein the issuer is entitled to pay the face value of the bond at the time of maturity and make interest payments periodically. It is a breakdown of large debt to borrow as it may be too large for an individual lender.

To record:

Journal entry for the issuance of bonds.

Explanation

Given:

$102,400zero coupon bonds were issued at $90,000 for 2 years.

The face value of bonds issued is recorded as bonds payable and any premium or discount on issue of bonds is recorded in separate “Premium on Bonds Payable” or “Discount on Bonds Payable” account whereas in case of issuance of bonds at par it is a regular journal entry where cash (asset) increased along with Bonds Payable (long term liability)...

To determine

(b)

Introduction:

A bond is long term liability wherein the issuer is entitled to pay the face value of the bond at the time of maturity and make interest payments periodically. It is a breakdown of large debt to borrow as it may be too large for an individual lender.

To record:

Adjusting Journal entry for interest expense for year 2020.

To determine

(c)

Introduction:

A bond is long term liability wherein the issuer is entitled to pay the face value of the bond at the time of maturity and make interest payments periodically. It is a breakdown of large debt to borrow as it may be too large for an individual lender.

To record:

Journal entry for interest expense for year 2021 and repayment of bond.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution
arrow_back
Chapter 9,
Problem 76E
Chapter 9,
Problem 78E
arrow_forward

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 9 Solutions

Show all chapter solutions add
Ch-9 P-1DQCh-9 P-2DQCh-9 P-3DQCh-9 P-4DQCh-9 P-5DQCh-9 P-6DQCh-9 P-7DQCh-9 P-8DQCh-9 P-9DQCh-9 P-10DQ
Ch-9 P-11DQCh-9 P-12DQCh-9 P-13DQCh-9 P-14DQCh-9 P-15DQCh-9 P-16DQCh-9 P-17DQCh-9 P-18DQCh-9 P-19DQCh-9 P-20DQCh-9 P-21DQCh-9 P-22DQCh-9 P-1MCQCh-9 P-2MCQCh-9 P-3MCQCh-9 P-4MCQCh-9 P-5MCQCh-9 P-6MCQCh-9 P-7MCQCh-9 P-8MCQCh-9 P-9MCQCh-9 P-10MCQCh-9 P-11MCQCh-9 P-12MCQCh-9 P-13MCQCh-9 P-14MCQCh-9 P-15MCQCh-9 P-16MCQCh-9 P-17MCQCh-9 P-18MCQCh-9 P-19MCQCh-9 P-20MCQCh-9 P-21MCQCh-9 P-22CECh-9 P-23CECh-9 P-24CECh-9 P-25CECh-9 P-26CECh-9 P-27CECh-9 P-28CECh-9 P-29CECh-9 P-30CECh-9 P-31CECh-9 P-32CECh-9 P-33CECh-9 P-34CECh-9 P-35CECh-9 P-36CECh-9 P-37CECh-9 P-38CECh-9 P-39CECh-9 P-40CECh-9 P-41CECh-9 P-42CECh-9 P-43CECh-9 P-44BECh-9 P-45BECh-9 P-46BECh-9 P-47BECh-9 P-48BECh-9 P-49BECh-9 P-50BECh-9 P-51BECh-9 P-52BECh-9 P-53BECh-9 P-54BECh-9 P-55BECh-9 P-56BECh-9 P-57BECh-9 P-58BECh-9 P-59BECh-9 P-60BECh-9 P-61BECh-9 P-62BECh-9 P-63BECh-9 P-64BECh-9 P-65BECh-9 P-66ECh-9 P-67ECh-9 P-68ECh-9 P-69ECh-9 P-70ECh-9 P-71ECh-9 P-72ECh-9 P-73ECh-9 P-74ECh-9 P-75ECh-9 P-76ECh-9 P-77ECh-9 P-78ECh-9 P-79ECh-9 P-80ECh-9 P-81ECh-9 P-82ECh-9 P-83ECh-9 P-84ECh-9 P-85ECh-9 P-86ECh-9 P-87ECh-9 P-88ECh-9 P-89ECh-9 P-90ECh-9 P-91PSACh-9 P-92PSACh-9 P-93PSACh-9 P-94PSACh-9 P-95PSACh-9 P-96PSACh-9 P-97PSACh-9 P-98PSACh-9 P-99PSACh-9 P-91PSBCh-9 P-92PSBCh-9 P-93PSBCh-9 P-94PSBCh-9 P-95PSBCh-9 P-96PSBCh-9 P-97PSBCh-9 P-98PSBCh-9 P-99PSBCh-9 P-100CCh-9 P-101.1CCh-9 P-101.2CCh-9 P-102.1CCh-9 P-102.2CCh-9 P-102.3CCh-9 P-102.4CCh-9 P-103.1CCh-9 P-103.2CCh-9 P-103.3CCh-9 P-103.4CCh-9 P-104.1CCh-9 P-104.2CCh-9 P-104.3CCh-9 P-104.4CCh-9 P-105.1CCh-9 P-105.2CCh-9 P-105.3CCh-9 P-105.4CCh-9 P-105.5CCh-9 P-105.6CCh-9 P-105.7CCh-9 P-106.1CCh-9 P-106.2CCh-9 P-106.3C

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Disposal of fixed asset Equipment acquired on January 6 at a cost of 375,000 has an estimated useful life of 20...

Financial & Managerial Accounting

Ratio of Liabilities to Stockholders Equity CompareAmazon.com to Best BuyObj.6 Amazon.com, Inc. (AMZN) is one o...

Corporate Financial Accounting

What SQL command(s) would you use to add the date on which an employee was hired to the EMPLOYEE table represen...

Accounting Information Systems

Depreciation by two methods; sale of fixed asset New lithographic equipment, acquired at a cost of 800,000 on M...

Accounting

A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fift...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

(Varieties of Oligopolies) Do the firms in an oligopoly act independently or interdependently? Explain your ans...

ECON: MICRO4 (New, Engaging Titles from 4LTR Press)

Give an example of a government policy that acts as an automatic stabilizer. Explain why the policy has this ef...

Principles of Macroeconomics (MindTap Course List)

CURRENT YIELD, CAPITAL GAINS YIELD, AND YIELD TO MATURITY Pelzer Printing Inc. has bonds outstanding with 9 yea...

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

If a firms ROE is low and management wants to improve it, explain how using more debt might help.

Fundamentals of Financial Management (MindTap Course List)

Would each of the following groups be happy or unhappy if the U.S. dollar appreciated? Explain. a. Dutch pensio...

Brief Principles of Macroeconomics (MindTap Course List)

Blogging: Learning From Master Bloggers. Communication Technology E-Mail Social Media Web Visit the blogs of Se...

Essentials of Business Communication (MindTap Course List)

A friend who lives in Los Angeles makes frequent consulting trips to Washington, D.C.; 50% of the time she trav...

Probability and Statistics for Engineering and the Sciences

(Consumer Surplus) If, toward the end of the day, some people become indifferent whether or not they go on anot...

ECON MICRO

Give an example of each form.

Foundations of Business (MindTap Course List)

Adam Smith's invisible hand" refers to a. the subtle and often hidden methods that businesses use to profit at ...

Principles of Microeconomics (MindTap Course List)

An economy consists of three workers: Larry, Moe, and Curly. Each works 10 hours a day and can produce two serv...

Principles of Economics (MindTap Course List)

REQUIRED RATE OF RETURN Stock R has a beta of 2.0, Stock s has a beta of 0.45, the required return on an averag...

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Adjustment for unearned revenue On June 1, 20Y2, Herbal Co. received 18,900 for the rent of land for 12 months....

Financial And Managerial Accounting

What is an assistive technology system?

Principles of Information Systems (MindTap Course List)

Should Walmart allow the suppliers to take a major role in defining and customizing the features and capabiliti...

Fundamentals of Information Systems

List the order number and order date for each order that was placed by Almondton General Store but that does no...

A Guide to SQL

____________ is a technique used during the systems investigation phase to identify the processes included with...

Fundamentals of Information Systems

What is a business rule, and what is its purpose in data modeling?

Database Systems: Design, Implementation, & Management

FIGURE P1.5 The File Structure for Problems 5-8 Identify and discuss the serious data redundancy problems exhib...

Database Systems: Design, Implementation, & Management

What is projectitis? How is it cured or its impact minimized?

Principles of Information Security (MindTap Course List)

For a soil, given: D10 = 0.08 mm D30 = 0.22 mm D60 = 0.41 mm Calculate the uniformity coefficient and the coeff...

Fundamentals of Geotechnical Engineering (MindTap Course List)

______ involves the exchange of money for goods and services over electronic networks, and it encompasses many ...

Principles of Information Systems (MindTap Course List)

Why does the rotor for a CKP have one or more missing teeth?

Automotive Technology: A Systems Approach (MindTap Course List)

List the parts of the combination set.

Precision Machining Technology (MindTap Course List)

Determine the yield moment MY, plastic moment MP, and shape factor/for a W 16 x 100 wide-flange beam if try= 36...

Mechanics of Materials (MindTap Course List)

Describe the process by which engineers evaluate alternatives.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

Explain the differences between a Gantt chart and a PERT/CPM chart

Systems Analysis and Design (Shelly Cashman Series) (MindTap Course List)

Using the Web, go to www.eff.org. What are the current top concerns of this organization?

Management Of Information Security

When the thermostat contacts close, the blower motor starts and heating element #1 turns on. After a time delay...

Electric Motor Control

The force-couple system acting at O is equivalent to the wrench acting at A. If R=600i+1400j+700klb and |C|=120...

International Edition---engineering Mechanics: Statics, 4th Edition

Describe how your community manages its organic waste.

Solid Waste Engineering

Refer to Problem 2.C.1. Results of the sieve analysis for Soils A, B, and C are given below. To obtain a more r...

Principles of Geotechnical Engineering (MindTap Course List)

What type and size of box may be used for the ceiling fan/light wall box?

EBK ELECTRICAL WIRING RESIDENTIAL

A car weighs 3000 lbm and is travelling 60 mph when it has to make an emergency stop. The car comes to a stop 5...

Fundamentals of Chemical Engineering Thermodynamics (MindTap Course List)

Design a single-angle tension member and a bolted connection for the following conditions: Dead load = 50 kips...

Steel Design (Activate Learning with these NEW titles from Engineering!)

True or False? If brake fluid is discolored, the system must be flushed and the fluid replaced.

Automotive Technology

Social Media Online social networks are a central communications tool and the primary source of news and inform...

Enhanced Discovering Computers 2017 (Shelly Cashman Series) (MindTap Course List)

For the truss of Problem 8.50, determine the maximum tensile axial force in member BE and the maximum compressi...

Structural Analysis

What are the two primary features that give proxy servers an advantage over NAT?

Network+ Guide to Networks (MindTap Course List)

bartleby
© bartleby 2019