Videos
1)
Bonds:
• Bonds are long term negotiable instruments of debt issued by corporate entities to secure funds from the public.
• These funds are used to either fund long term capital expenditure or similar long term investment opportunities.
• Bonds represent steady income for the investor in the form of periodic interest payments by the entity issuing the bond. Bonds are issued at par, at premium or at a discount.
• Journal entries are the first step in recording financial transactions and preparation of financial statements.
• These represent the impact of the financial transaction and demonstrate the effect on the accounts impacted in the form of debits and credits.
• Assets and expenses have debit balances and Liabilities and Incomes have credit balances
2):
Bonds:
• Bonds long term negotiable instruments of debt issued by corporate entities to secure funds from the public.
• These funds are used to either fund long term capital expenditure or similar long term investment opportunities.
• Bonds represent steady income for the investor in the form of periodic interest payments by the entity issuing the bond. Bonds are issued at par, at premium or at a discount.
• Journal entries are the first step in recording financial transactions and preparation of financial statements.
• These represent the impact of the financial transaction and demonstrate the effect on the accounts impacted in the form of debits and credits.
• Assets and expenses have debit balances and Liabilities and Incomes have credit balances
Journal Entry for the semiannual payment of interest on July 1, 2018
3)
Bonds:
• Bonds long term negotiable instruments of debt issued by corporate entities to secure funds from the public.
• These funds are used to either fund long term capital expenditure or similar long term investment opportunities.
• Bonds represent steady income for the investor in the form of periodic interest payments by the entity issuing the bond. Bonds are issued at par, at premium or at a discount.
• Journal entries are the first step in recording financial transactions and preparation of financial statements.
• These represent the impact of the financial transaction and demonstrate the effect on the accounts impacted in the form of debits and credits.
• Assets and expenses have debit balances and Liabilities and Incomes have credit balances
Journal Entry for the redemption of bond payable on January 1, 2028
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Chapter 14 Solutions
Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)
- Saved Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 10,200 Cash withdrawals by owner Cash Accounts receivable 15,200 Consulting revenue Office supplies 3,550 Rent expense Land 45,990 Office equipment 18,310 Accounts payable 8,740 Salaries expense Telephone expense Miscellaneous expenses Owner investments 84,310 $ 2,340 15,200 3,910 7,350 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. AC Graw Hill ERNST CONSULTING Balance Sheet December 31 $ 0 G-SYNC $ 0 S 0 Barrow_forwardAudit, Fraud, Or Forensic Accounting Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career. This course covers forensic accounting, so it's important to establish the differences between an audit, a fraud examination, and a forensic accounting engagement. Think about the fraud conviction of Elizabeth Holmes, as described in the video, "Elizabeth Holmes Found Guilty in Theranos Fraud Trial." Then respond to the following: Imagine you are assigned to the Theranos case. Write the first five questions you would ask if you were an auditor, the first five questions as a fraud examiner, and the first five as a forensic accountant. After your questions, explain why the questions and approaches are different among the three roles. Be sure to respond to at least one of your classmates' posts.arrow_forwardFinancial Account subjectarrow_forward
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