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Journal entries for Deep discount bond
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Suppose deep discount bond purchased for Rs.1000 and at maturity after 10 years we received Rs 1500. We have booked difference amount of Rs1500-Rs1000 = Rs500 as interest accrued but not due for 10 years. Now after 5 years prematured at Rs 800. So we have loss of Rs.250 in interest already...
Bond journal entries
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Fargus Corporation owned 51% of the voting common stock of Manatee, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the purchase price. On January 1, 2005, Manatee...
Bond Payments and Journal and Journal Entries
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What is the adjusting entry at Dec 31, 2007 for this problem? Problem: Logan Corporation issued 800000 of 8% bonds on October 1, 200, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. View more questions Search
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