Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. how would u do this? i dont understand. please sho

How would u do this? I dont understand. Please show all ur work and thank...

50.1K

Verified Solution

Question

Accounting

How would u do this? I dont understand. Please show all ur work and thank you!
image
10-5. TreeTop Corporation had issued $5,000,000 of 10-year bonds with a 12% stated rte and interest to be paid annually. They were issued on January 1, 2004 at 96 and have been amortized using the straight-line method through December 31, 2010. On June 30, 2011, TreeTop retired all the bonds by exercising the call feature. The call price was 101. Record the journal entry for the call of the bonds on June 30, 2011. (Remember to amortize the discount and update the boolk value of the bonds for the half-year prior to retirement). 11-1. Constance Corporation reported a $750,000 balance in its common stock account at the end of 2010. The company held 50,000 shares of treasury stock and had 700,000 shares outstanding. Calculate the par value per share of the company's common stock 11-2. DRP, Inc. sold and issued 50,000 shares of its own $50 par value preferred stock for $110 per share, and 200,000 shares of its no par common stock for $40 per share. Prepare the required journal entry

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students