The writer is very fast, professional and responded to the review request fast also. Thank you.
On January 2, Year 1 the Lyndhurst Company,Inc. a privately-held company, issued $1,000,000, five –year , 10.00% bonds, dated January 2, Year 1. The bonds provided for semi-annual interest payments to be made on June 30 and December 31 each year. Terms of the bond indenture allowed the company to call the bonds at 102 after one year. The bonds were issued when the market interest rate was 8.00%.
Lyndhurst uses the effective interest method for amortizing bond discounts and premium
The bonds are term bonds that mature on December 31, Year 5.
Lyndhurst’s fiscal year for financial reporting purposes is December 31.
The company called the bonds at 102 on June 30, Year 2
Lyndhurst called its 10.00%, $1,000,000 bonds on June 30, Year 2, paying bondholders the 102 call price. On that date, the bonds had a carrying value of $1,060,016.
Compute the gain or loss to Lyndhurst Company on reacquisition of bonds on June 30, Year 2 and record the appropriate journal entry
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more