The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

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Answer 1

Question

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

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The audited accounts of Lindsay Co. for year-end August 31, 2014 show a profit of $3,115,000 after charging the following: Depreciation 430,000 Rent 175,000 Legal fees 1,350,000 Audit fees 88,000 Donations 119,000 Bad debts 242,000 Foreign Travel 395,750 Interest payments 62,375 Other Information: Legal fees are as follows: Expenses in respect of recovery of debts, $585,000 Expenses related to the increase private share capital, $765,000 Lindsay Co. donated $65,500 to UTECH University and $53,500 to HELP, a private charity registered under the Charities Act. Bad debts are as follows: A loan of $76,130 to Derek Stan who failed to repayit. $63,017, owed by Simplicity Ltd. which was declared bankrupt. The balance is a percentage of receivables at year end which is deemed to be bad. Foreign travel expense included $268,210 for a vacation package for the marketing manager’s and his family plane tickets. The remaining amount was for a business trip to meet with potential suppliers.…

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Please provide answer the following requirements a and b on these financial accounting question

Answer 2

Question

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Expert Solution & Answer

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Answer 3

Question

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Answer 6

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Answer 7

Chapter 14, Problem 1BPSB

Requirement-1:

To determine

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Answer 8

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Answer 9

Requirement-2:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

Answer 10

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Answer 11

Requirement-3:

To determine

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 14 - Prob. 1DQ Ch. 14 - Prob. 2DQ Ch. 14 - Prob. 3DQ Ch. 14 - Prob. 4DQ Ch. 14 - Prob. 5DQ Ch. 14 - Prob. 6DQ Ch. 14 - Prob. 7DQ Ch. 14 - Prob. 8DQ Ch. 14 - Prob. 9DQ Ch. 14 - Prob. 10DQ

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Videos

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Want to see the full answer?

Chapter 14 Solutions

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

Videos

To calculate: The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

To Calculate: The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

To Calculate: The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%

Want to see the full answer?

Chapter 14 Solutions

To calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 10%

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 12%

To Calculate:

The Issue price of the bonds and journal entry at the time of issue of bonds if the market rate at the time if issuance of bonds is 14%