On January 1, 2021, Peach Corporation issues $600,000, 5-year, 7% bonds at par. Interest is paid semiannually on January 1 and July 1. Peach Corporation uses the straight-line method of amortization. The company's fiscal year ends on December 31. Which of the following statements about the journal entry for these bonds on July 1, 2021 is TRUE?
a. The entry decreases assets and increases stockholder's equity
b. The entry increases expenses and increases assets.
c. The entry decreases net income and increases liabilities
d. The entry decreases assets and stockholder's equity
Solved
Show answers
More tips
- L Leisure and Entertainment What Movies You Should Watch: A Guideline to Make the Right Decision...
- F Family and Home How to Choose a Baby Stroller: Tips from Experienced Parents...
- H Health and Medicine 5 Simple Steps to Quit Smoking for Good...
- C Computers and Internet How to Download Videos from YouTube? Simple Steps to Download Any Content...
- H Health and Medicine What is the Normal Blood Sugar Level in a Healthy Person?...
- S Style and Beauty How to Get Rid of Acne: Scientifically Proven Methods...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- C Computers and Internet How to Delete Your Account on Odnoklassniki...
- H Health and Medicine 10 Simple and Effective Tips on How to Lose Weight in a Week...
- F Food and Cooking What s the Best Rice for Cooking Plov?...
Answers on questions: Business
- B Business Anyone wanna chat and just chill...
- B Business What is sociology? Types sociology...
- B Business B. if lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each would lucinda buy if she were rational?...
- H History What were thaddeus stevens’s plans for reintroducing southern states during reconstruction? a) he wanted to admit states when 10% of citizens had taken oaths of loyalty....
- M Mathematics Ralph deposited $3,000 into a bank account that earn simple interest each year after 3.5years he had earn $226.50 and interest if no money was deposited into or withdrawn...
- E English Apopular burger joint has greatly reduced the size of its servings. many customers take to social media to complain. which action is most likely to discourage customers...
- H Health 1. what is the function of the circulatory system? a. control the flow of oxygen in your body b. control the flow of nutrients in you body c. control the flow of blood...
- B Biology Five geographical areas each have a total of 150 organisms distributed among for species: a, b, c, d. which area exhibits the highest evenness in the sample size?...
- M Mathematics 1. △def≅△xyz . which other congruence statements are true? there is more than one answer. a. △fde≅△zxy b. △dfe≅△xzy c. △efd≅△yxz d. △fed≅△zxy 2. identify the transformations...
- E English Elijah works for a retailer seeking new ways to advertise its products. how can he best use the power of social media to ? text everyone he knows asking for ideas crowdsource...
Ответ:
because sometimes they help us to get some medicine which can be used to cure a particular disease