Entries by Grace Wahito

Record liability-related transactions)

April 3, 2020 in /by

Record liability-related transactions) The following transactions of Smooth Sounds Music Company occurred during 2012 and 2013: 2012 Mar  3 Purchased a piano (inventory) for $50,000, signing a six-month, 8% note payable. May 31 Borrowed $85,000 on an 8% note payable that calls for annual installment payments of $17,000 principal plus interest. Record the short-term note payable in […]

 

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Account for issuance of stock; report stockholders’ equity) Hambrick Sales,

April 3, 2020 in /by

Account for issuance of stock; report stockholders’ equity) Hambrick Sales, Inc., is authorized to issue 170,000 shares of common stock and 5,000 shares of preferred stock. During its first year, the business completed the following stock issuance transactions: Aug 19 Issued 10,000 shares of $5.00 par common stock for cash of $12.00 per share. Nov […]

 

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What happens when the market value of the bond exceeds its face value?

April 3, 2020 in /by

What happens when the market value of the bond exceeds its face value? What happens when the market value is less than the face value? What happens when the market and face value is the same?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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