![subject](/tpl/images/cats/ekonomika.png)
Business, 21.03.2020 08:36 abhibhambhani
Plug Corporation purchased $100,000 par value bonds of its subsidiary, Spark Company, on December 31, 20X5, from Lemon Corporation for $102,800. The 10-year bonds bear a 9 percent coupon rate, and Spark originally sold them on January 1, 20X3, to Lemon at 95. Interest is paid annually on December 31. Plug owns 85 percent of the stock of Spark.
In preparing the consolidation worksheet at December 31, 20X6, Plug’s controller made the following entry to eliminate the effects of the intercorporate bond ownership:
Bonds Payable 100,000
Interest Income 8,600
Retained Earnings, January 1 5,355
Noncontrolling Interest 945
Investment in Spark Company Bonds 102,400
Discount on Bonds Payable 3,000
Interest Expense 9,500
Required:
(a) What amount did Plug pay when it purchased Spark’s bonds?
(b) Prepare the journal entry made by Spark in 20X6 to record its interest expense for the year.
(c) Prepare the journal entry made by Plug in 20X6 to record its interest income on the Broadway bonds that it holds.
(d) Prepare the eliminating entry to remove the effects of the intercorporate bond ownership in completing a three-part consolidation worksheet at December 31, 20X5.
![ansver](/tpl/images/cats/User.png)
Answers: 2
Another question on Business
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 11:00
Alocal barnes and noble bookstore ordered 80 marketing books but received 60 books. what percent of the order was missing?
Answers: 1
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 13:30
Presented below is information for annie company for the month of march 2018. cost of goods sold $245,000 rent expense $ 36,000 freight-out 7,000 sales discounts 8,000 insurance expense 5,000 sales returns and allowances 11,000 salaries and wages expense 63,000 sales revenue 410,000 instructions prepare the income statement.
Answers: 2
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 16:30
Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income
Answers: 1
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 18:30
What historical context does wiesel convey using the allusion of a fiery sky? he compares the sky to hell. the fires from air raids during world war ii the cremation of jews in the concentration camps the outbreak of forest fires from bombs in world war ii
Answers: 1
You know the right answer?
Plug Corporation purchased $100,000 par value bonds of its subsidiary, Spark Company, on December 31...
Questions
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/es.png)
Spanish, 23.05.2021 19:20
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/istoriya.png)
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/himiya.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/himiya.png)
Chemistry, 23.05.2021 19:20
![question](/tpl/images/cats/User.png)
SAT, 23.05.2021 19:20
![question](/tpl/images/cats/obshestvoznanie.png)
Social Studies, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/himiya.png)
Chemistry, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/en.png)
English, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20
![question](/tpl/images/cats/mat.png)
Mathematics, 23.05.2021 19:20