Purchase Solution

Witten Co.

Not what you're looking for?

Ask Custom Question

Multiple Choice
35. On August 1, 2007, Witten Co. acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2007, and mature on April 30, 2013, with interest paid each October 31 and April 30. The bonds will be added to Witten's available-for-sale portfolio. The preferred entry to record the purchase of the bonds on August 1, 2007 is
a. Available-for-Sale Securities 198,500
Cash 198,500
b. Available-for-Sale Securities 194,000
Interest Receivable 4,500
Cash 198,500
c. Available-for-Sale Securities 194,000
Interest Revenue 4,500
Cash 198,500
d. Available-for-Sale Securities 200,000
Interest Revenue 4,500
Discount on Debt Securities 6,000
Cash 198,500

Purchase this Solution
Solution Summary

This solution is comprised of a detailed explanation to prepare preferred entry to record the purchase of the bonds on August 1, 2007.

Solution Preview

Multiple Choice
35. On August 1, 2007, Witten Co. acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2007, and mature on April 30, 2013, with interest paid ...

Purchase this Solution
Free BrainMass Quizzes
Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

View More Free Quizzes
Related BrainMass Solutions

  • Accounting Questions

    On August 1, 2007, Witten Co. acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2007, and mature on April 30, 2013, with interest paid each October 31 and April 30.

  • Factoring trinomials

    (4a-b)(4a+b) is the answer Section 7.1 Questions 86/88 Rational expressions, simplify the expression 86. 5x2 + 3x -2 ( Witten in the form of a fraction).

  • Lossless Text Data Compression

    [Bell, Witten & Cleary, 1989] Figure 3.

  • The Turing Test

    Bell, Witten & Fellows (1998) interviewed and tested for reason and intelligence in machines by comparing responses to that of children.

  • Aspects of Organizational Cultures - Target Corporation

    contentId=PRD03-001086 Wuthnow, R., and Witten, M. 1988. New directions in the study of culture.

  • Pre-Algebra: Write Expressions with only Positive Exponents

    4.1 X10 TO THE POWER OF 10) 3- (2.4 X 10 TO THE POWER OF 2)X(1.5 X10 TO THE POWER OF 4) 4- (3.4 X 10 TO THE POWER OF 3) X(5.6 X 10 TO THE POWER OF 7) Expressions are witten

  • Information Systems In Global Business Today

    Witten, Ian H., et al. Data Mining: Practical machine learning tools and techniques. Morgan Kaufmann, 2016 The response provides you a structured explanation of information systems in business today . It also gives you the relevant references.

  • Exchange of Assets

    Bakken Co.'s Books: Farley Co.'s Books: 2. Bakken Co. and Farley Co. traded the above equipment. They are similar productive assets. Bakken Co.'s Books: Farley Co.'

  • Co-leadership Therapy

    403620 Co-Leadership What is a co-leadership? Is it ethically beneficial to have a co-leader in a group? As a co-leader, how would you best utilize your co-leader to deal with a client that has become upset or a client that is unwilling to open up?

View More Related Solutions