ACCOUNTING PRINCIPLES 122 5/16 >C<
17th Edition
ISBN: 9781323461471
Author: Horngren
Publisher: PEARSON C
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Chapter 15, Problem P15.20APGA
To determine
Concept Introduction:
Bond refers to a financial security which is issued by a business entity for raising funds for long-term. Bond generates return for the investors on a specified date and this return can be variable or fixed.
Requirement 1
To prepare:
Journal entries for the transactions of 2016
Main solution:
| Date | Accounts Title | Debit | Credit |
|---|---|---|---|
| Jan. 1, 2016 | Long-term Investment –Held-to-Maturity | $400000 | |
| Cash | $700000 | ||
| (For recording purchase of bond) | |||
| June.30, 2016 | Cash | $10000 | |
| Interest Revenue | $10000 | ||
| (For recording interest on bond) | |||
| Dec.31, 2016 | Cash | $10000 | |
| Interest Revenue | $10000 | ||
| (For recording interest on bond) |
To determine
Requirement 2;
To prepare:
Main solution:
| Date | Accounts Title | Debit | Credit |
|---|---|---|---|
| Dec. 31, 2020 | Cash | $400000 | |
| Long-term Investment –Held-to-Maturity | $400000 | ||
| (For recording disposal of bond at maturity) |
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Problem 20-2A (Algo) Manufacturing: Cash budget and schedule of cash payments LO P2
[The following information applies to the questions displayed below.]
Built-Tight is preparing its master budget. Budgeted sales and cash payments follow:
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August
$ 72,500
September
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Sales to customers are 20% cash and 80% on credit. Sales in June were $54,000. All credit sales are collected in the
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Chapter 15 Solutions
ACCOUNTING PRINCIPLES 122 5/16 >C<
Ch. 15 - Prob. 1QCCh. 15 - Which of the following investments is most likely...Ch. 15 - Prob. 3QCCh. 15 - A company invested $45,000 in Yale Co. stock. The...Ch. 15 - Prob. 5QCCh. 15 - Prob. 6QCCh. 15 - Prob. 7QCCh. 15 - Prob. 8QCCh. 15 - Prob. 9QCCh. 15 - Prob. 10QC
Ch. 15 - Prob. 1RQCh. 15 - Prob. 2RQCh. 15 - Prob. 3RQCh. 15 - Prob. 4RQCh. 15 - Prob. 5RQCh. 15 - Prob. 6RQCh. 15 - Prob. 7RQCh. 15 - Prob. 8RQCh. 15 - Prob. 9RQCh. 15 - Prob. 10RQCh. 15 - Prob. 11RQCh. 15 - Prob. 12RQCh. 15 - Prob. 13RQCh. 15 - Prob. 14RQCh. 15 - Prob. S15.1SECh. 15 - Prob. S15.2SECh. 15 - Prob. S15.3SECh. 15 - Prob. S15.4SECh. 15 - Prob. S15.5SECh. 15 - Prob. S15.6SECh. 15 - Prob. S15.7SECh. 15 - Prob. E15.8ECh. 15 - Prob. E15.9ECh. 15 - Prob. E15.10ECh. 15 - Prob. E15.11ECh. 15 - Prob. E15.12ECh. 15 - Prob. E15.13ECh. 15 - Prob. E15.14ECh. 15 - Prob. E15.15ECh. 15 - Prob. E15.16ECh. 15 - Prob. E15.17ECh. 15 - Prob. P15.18APGACh. 15 - Prob. P15.19APGACh. 15 - Prob. P15.20APGACh. 15 - Prob. P15.21BPGBCh. 15 - Prob. P15.22BPGBCh. 15 - Prob. 23CPCh. 15 - Prob. 15.1DCCh. 15 - Prob. 15.1EICh. 15 - Prob. 15.1FCCh. 15 - Financial Statement Case 151 Details about a...
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