question archive 1) How do I amortize this without a salvage rate?   On February 1, 2004, the Foose Corporation issued $300,000 worth of bonds; the bonds were dated February 1, 2004, and they sold for $303,600

1) How do I amortize this without a salvage rate?   On February 1, 2004, the Foose Corporation issued $300,000 worth of bonds; the bonds were dated February 1, 2004, and they sold for $303,600

Subject:AccountingPrice: Bought3

1) How do I amortize this without a salvage rate?

 

On February 1, 2004, the Foose Corporation issued $300,000

worth of bonds; the bonds were dated February 1, 2004, and

they sold for $303,600. Maturity date for this issue is February 1,

2024. Interest is to be paid semiannually, on July 31 and

January 31. The interest rate is 6% and interest coupons are to

be used.

.

2) Presented below is information related to Waterway Industries:

 

Common Stock, $1 par$3460000

Paid-in Capital in Excess of Par?Common Stock551000

Preferred 8 1/2% Stock, $50 par1810000

Paid-in Capital in Excess of Par?Preferred Stock388000

Retained Earnings 1500000

Treasury Common Stock (at cost)150000

 

The total stockholders' equity of Waterway Industries is

 

$6059000.

$7709000.

$6209000.

$7559000

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