Entries by mary WAMBUGU

Alpha Company purchased a $1000, 5 years, 6% bond on July 1, 2015 for $960. Interest is paid annualy on june 30. The straight line method of amortization is used for both premiums & discounts.

September 13, 2019 in /by

Alpha Company purchased a $1000, 5 years, 6% bond on July 1, 2015 for $960. Interest is paid annualy on june 30. The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the General Journal entry (without explanation) for the June 30, 2016. If no entry is […]

 

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On August 1, 2017, Alpha company retired a $10000 bond at 105. On july 31, 2017 ALpha had accrued the interest payment for $250. At the date of retirement, the unamoritzed discount on the bonds was $400.

September 12, 2019 in /by

On August 1, 2017, Alpha company retired a $10000 bond at 105. On july 31, 2017 ALpha had accrued the interest payment for $250. At the date of retirement, the unamoritzed discount on the bonds was $400. Use this information to prepare the General Journal entry to record the retirement & accrued interest payment of […]

 

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On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15, the board declared a $.30 per share dividend to be paid to stockholders of record on May 4.

September 12, 2019 in /by

On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15, the board declared a $.30 per share dividend to be paid to stockholders of record on May 4. The dividend was distributed on May 15. Use this information to prepare the General Journal entries ( without explanation) for April […]

 

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Immediately following an acquisition, the Alpha Companys balance sheet included cash $50000, investment in subsidiary $200000, plant assets $475000, and liabilities $150000.

September 12, 2019 in /by

Immediately following an acquisition, the Alpha Companys balance sheet included cash $50000, investment in subsidiary $200000, plant assets $475000, and liabilities $150000. The wholly owned subsidiary (Bravo-Zulu Company) had cash $55000, plant assets $145000, and liabilities the subsidiary are also equal to their fair values. Use this information to determine the dollar value of Alpha […]

 

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