Q1– Khaled’s company issued and sold $500,000 bond payable on January 1, 2019, with an interest rate of 6%, 5-year and received $465,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. Prepare the journal entries to record these transactions on January 1st, at the first interest payment and at the maturity date?
Q2– Prepare the Accounts receivable journal entries to record these transactions:
At the beginning of the year Mohammed, Inc. issued an amount of shares of 5 par value stock for 30 per share. (Provide an amount of the stock issued)?
On December 1st, Mohammed’s, Inc. declared a 5 per share cash dividend, for an amount of common shares outstanding (Provide an amount of the common shares). The dividend will be paid on December 31 to stockholders of record on December 15?
Q3- Here is the following information for Abdullah’s Company, please calculate the net cash provided by operating activities using the indirect method: by providing an amount of each information below:
Net income:
Depreciation expense:
- Accounts receivable decreased:
- Gain on sale of land:
Merchandise inventory increased:
Proceeds from sale of land:
Prepaid expenses decreased:
Accounts payable increased:
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