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On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at
On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2030. In addition, each $1,000 bond was issued with 25 detachab…
On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at
On March 1, 2010, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2030. In addition, each $1,000 bond was issued with 25 detachab…
On March 1, 2011, Abbey and Dames formed a partnership. Abbey contributed $83,00
On March 1, 2011, Abbey and Dames formed a partnership. Abbey contributed $83,000 cash and Dames contributed land valued at $66,400 and a building valued at $96,400. The partnersh…
On March 1, 2011, Abbey and Dames formed a partnership. Abbey contributed $88,00
On March 1, 2011, Abbey and Dames formed a partnership. Abbey contributed $88,000 cash and Dames contributed land valued at $70,000 and a building valued at $100,000. The partners…
On March 1, 2011, Navy Corporation used excess cash to purchase U.S. Treasury bo
On March 1, 2011, Navy Corporation used excess cash to purchase U.S. Treasury bonds for $103,000 plus accrued interest. The appropriate interest rate is 6%. Interest on these bond…
On March 1, 2011, Professor Credit Union (PCU) issued 6%, 20 year bond payable w
On March 1, 2011, Professor Credit Union (PCU) issued 6%, 20 year bond payable with maturity value of $90,000.The bonds pay interest on February 28 and August 31. PCU amortizes bo…
On March 1, 2011, Professor Credit Union (PCU) issued 6%, 20 year bond payable w
On March 1, 2011, Professor Credit Union (PCU) issued 6%, 20 year bond payable with maturity value of $90,000.The bonds pay interest on February 28 and August 31. PCU amortizes bo…
On March 1, 2012, Bob\'s Allen-wrench Company issues $2,000,000 of 9%, 10-year b
On March 1, 2012, Bob's Allen-wrench Company issues $2,000,000 of 9%, 10-year bonds, with interest payments made each Sept. 1 and March 1. The bonds are issued at 103. Bob's Allen…
On March 1, 2012, Chance Company entered into a contract to build an apartment b
On March 1, 2012, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost 2,000,000 and will take 3 years to complete. T…
On March 1, 2012, Freeze Company hires a new employee who will start to work on
On March 1, 2012, Freeze Company hires a new employee who will start to work on March 6. The employee will be paid on the last day of each month. Should a journal entry be made on…
On March 1, 2012, Mechanics Credit Union (MCU) issued 7%, 20-year bonds payable
On March 1, 2012, Mechanics Credit Union (MCU) issued 7%, 20-year bonds payable with maturity value of $300,000. The bonds pay interest on February 28 and August 31. MCU amortizes…
On March 1, 2013, Beldon Corporation purchased land as a factory site for $54000
On March 1, 2013, Beldon Corporation purchased land as a factory site for $54000. An old building on the property was demolished, and construction began on a new building that was…
On March 1, 2013, Eckert and Kelley formed a partnership. Eckert contributed $99
On March 1, 2013, Eckert and Kelley formed a partnership. Eckert contributed $99,000 cash and Kelley contributed land valued at $79,200 and a building valued at $109,200. The part…
On March 1, 2013, Stratford Lighting issued 14% bonds, dated March 1, with a fac
On March 1, 2013, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of $300,000. The bonds sold for $294,000 and mature on February 28, 2033 (20 years). Inter…
On March 1, 2014 Messier Inc. issued $2,000,000 of 4% term corporate bonds, due
On March 1, 2014 Messier Inc. issued $2,000,000 of 4% term corporate bonds, due on March 1, 2024, with interest payable each March 1 and September 1. At the time the bonds were is…
On March 1, 2014, Anniston Company purchased an oil well at a cost of $1,086,000
On March 1, 2014, Anniston Company purchased an oil well at a cost of $1,086,000. It is estimated that 160,000 barrels of oil can be produced over the remaining life of the well a…
On March 1, 2014, Anniston Company purchased an oil well at a cost of $1,950,000
On March 1, 2014, Anniston Company purchased an oil well at a cost of $1,950,000. It is estimated that 250,000 barrels of oil can be produced over the remaining life of the well a…
On March 1, 2014, Anniston Company purchased an oil well at a cost of $2,024,000
On March 1, 2014, Anniston Company purchased an oil well at a cost of $2,024,000. It is estimated that 340,000 barrels of oil can be produced over the remaining life of the well a…
On March 1, 2014, Anniston Company purchased an oil well at a cost of $2,050,000
On March 1, 2014, Anniston Company purchased an oil well at a cost of $2,050,000. It is estimated that 350,000 barrels of oil can be produced over the remaining life of the well a…
On March 1, 2014, Chance Company entered into a contract to build an apartment b
On March 1, 2014, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost $2,092,000 and will take 3 years to complete. …
On March 1, 2014, Kissell Corporation began operations with a charter from the s
On March 1, 2014, Kissell Corporation began operations with a charter from the state that authorized 100,000 shares of $4 par value common stock. Over the next quarter, the compan…
On March 1, 2014, Parnevik Company sold goods to Goosen Inc. for $632,000 in exc
On March 1, 2014, Parnevik Company sold goods to Goosen Inc. for $632,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,065,000. The goods have an …
On March 1, 2014, Pechstein Construction Company contracted to construct a facto
On March 1, 2014, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,091,000. The building wa…
On March 1, 2014, Pechstein Construction Company contracted to construct a facto
On March 1, 2014, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,091,000. The building wa…
On March 1, 2014, Pechstein Construction Company contracted to construct a facto
On March 1, 2014, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,400,000. The building wa…
On March 1, 2014, Raymond Company purchased a Cessna Citation M2 at a cost of $5
On March 1, 2014, Raymond Company purchased a Cessna Citation M2 at a cost of $5,800,000. Raymond incurred an additional cost of $200,000 to prepare the aircraft for it's use as a…
On March 1, 2014, Ruiz Corporation issued $1,500,000 of 8% nonconvertible bonds
On March 1, 2014, Ruiz Corporation issued $1,500,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2034. In addition, each $1,000 bond was issued with 25 detach…
On March 1, 2014, Zobrist Company acquired real estate, on which it planned to c
On March 1, 2014, Zobrist Company acquired real estate, on which it planned to construct a small office building, by paying $87,850 in cash. An old warehouse on the property was d…
On March 1, 2014, Zobrist Company acquired real estate, on which it planned to c
On March 1, 2014, Zobrist Company acquired real estate, on which it planned to construct a small office building, by paying $90,610 in cash. An old warehouse on the property was d…
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 7 pe
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 7 percent interest rate and was due on September 1, 2014. Aliceville provides a 90-day warranty on the …
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 pe
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 percent interest rate and was due on September 1, 2014. Aliceville provides a 90-day warranty on the …
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 pe
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 percent interest rate and was due on September 1, 2014. Aliceville provides a 90-day warranty on the …
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 pe
On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 8 percent interest rate and was due on September 1, 2014. Aliceville provides a 90-day warranty on the …
On March 1, 2015 you created a new travel agency, Jont Travel Agency. The follow
On March 1, 2015 you created a new travel agency, Jont Travel Agency. The following transactions occurred during the company’s first month. March 1: You invested $20,000 cash and …
On March 1, 2015 you created a new travel agency, Jont Travel Agency. The follow
On March 1, 2015 you created a new travel agency, Jont Travel Agency. The following transactions occurred during the company’s first month. March 1: You invested $20,000 cash and …
On March 1, 2016, Baker Services issued a 5% long-term notes payable for $21,000
On March 1, 2016, Baker Services issued a 5% long-term notes payable for $21,000. It is payable over a 3-year term in $7,000 annual principal payments on March 1 of each year plus…
On March 1, 2016, Baker Services issued a 9% long-term notes payable for $18,000
On March 1, 2016, Baker Services issued a 9% long-term notes payable for $18,000. It is payable over a 3-year term in $6,000 annual principal payments on March 1 of each year plus…
On March 1, 2016, Beldon Corporation purchased land as a factory site for $60,00
On March 1, 2016, Beldon Corporation purchased land as a factory site for $60,000. An old building on the property was demolished, and construction began on a new building that wa…
On March 1, 2016, E Corp. issued $1,100,000 of 10% nonconvertible bonds at 107,
On March 1, 2016, E Corp. issued $1,100,000 of 10% nonconvertible bonds at 107, due on February 28, 2026. Each $1,000 bond was issued with 35 detachable stock warrants, each of wh…
On March 1, 2016, Eric Keene and Abigail McKee form a partnership. Keene agrees
On March 1, 2016, Eric Keene and Abigail McKee form a partnership. Keene agrees to invest $20,900 in cash and merchandise inventory valued at $55,950. McKee invests certain busine…
On March 1, 2016, Eric Keene and Abigail McKee form a partnership. Keene agrees
On March 1, 2016, Eric Keene and Abigail McKee form a partnership. Keene agrees to invest $21,100 in cash and merchandise inventory valued at $55,900. McKee invests certain busine…
On March 1, 2016, Gold Examiner receives $162,000 from a local bank and promises
On March 1, 2016, Gold Examiner receives $162,000 from a local bank and promises to deliver 96 units of certified 1-oz. gold bars on a future date. The contract states that owners…
On March 1, 2016, Gold Examiner receives $162,000 from a local bank and promises
On March 1, 2016, Gold Examiner receives $162,000 from a local bank and promises to deliver 96 units of certified 1-oz. gold bars on a future date. The contract states that owners…
On March 1, 2016, Kimpo Inc. issues $228,000 of bonds from its January 1, 2016 i
On March 1, 2016, Kimpo Inc. issues $228,000 of bonds from its January 1, 2016 issue. The bonds mature in 10 years on December 31, 2025 and are issued at par. The stated rate on t…
On March 1, 2016, Lakers Company issued 8% bonds dated March 1, 2016, with a fac
On March 1, 2016, Lakers Company issued 8% bonds dated March 1, 2016, with a face amount of $500,000. The bonds mature on September 1 2019 (3.5 years). For bonds of similar risk a…
On March 1, 2016, Reeves Company issued five-year, 10%, $800,000 face value bond
On March 1, 2016, Reeves Company issued five-year, 10%, $800,000 face value bonds at par plus accrued interest. The bonds were dated January 1, 2016, and pay interest semiannually…
On March 1, 2016, S Company acquired real estate, on which it planned to constru
On March 1, 2016, S Company acquired real estate, on which it planned to construct a small office building, by paying $90,000 in cash. An old warehouse on the property was demolis…
On March 1, 2016, Stratford Lighting issued 14% bonds, dated March 1, with a fac
On March 1, 2016, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of $840,000. The bonds sold for $819,000 and mature on February 28, 2036 (20 years). Inter…
On March 1, 2016, the annual payment of $20,000 on the Note Payable (A/C 2500) w
On March 1, 2016, the annual payment of $20,000 on the Note Payable (A/C 2500) will be paid, with annual interest of 3.75%. The mortgage bonds are not due until 2018. Prepare th…
On March 1, 2017, Blossom Construction Company contracted to construct a factory
On March 1, 2017, Blossom Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,350,000. The building was …