Introduction:
Bond: A bond is defined as a security generally used for a debt investment under which an investor finances money to an entity for a definite period of time at a fixed interest rate. Ventures that demands huge amount of funds are usually financed from bond issuance. The total amount of interest payable on bond issuance during a given period of time is known as bond interest expenses.
To calculate:
1. The amount of long term bonds and notes currently outstanding.
2. The supporting information to municipality’s financial statements and records
a. The market interest rate when the bonds and notes were issued
b. The date when bonds or notes will mature.
c. Any rating on the bonds and notes received from Moody’s investor’s service, Standard and Poor rating service, Fitch ratings and any other rating agency.

Want to see the full answer?
Check out a sample textbook solution
Chapter 14 Solutions
WORKING PAPERS F/ FUND ACCOUNTING
- Please give me answer accountingarrow_forwardWhat would be the average fixed inspectionarrow_forwardAmber Corp. bought $380,000 worth of furniture on July 15, 2014. On November 20, 2014, the company purchased $140,000 of used office equipment. If Amber Corp. Elects Section 179, what is the maximum write-off for these purchases in 2014?arrow_forward
- No AI please otherwise unhearrow_forwardWhat is the manufacturing overhead of this general accounting question?arrow_forwardQuine Inc. reported sales of $8,500,000 for the month and incurred variable expenses totaling $6,300,000 and fixed expenses totaling $1,500,000. The company has no beginning or ending inventories. A total of 90,000 units were produced and sold last month. How many units would the company have to sell to achieve a desired profit of $1,200,000? (rounding up to the nearest whole unit)arrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education





