On March 1, 2021, Brown-Ferring Corporation issued $100 million of 12% bonds, dated January 1, 2021, for $99 million (plus accrued interest). The bonds mature on December 31, 2040, and pay interest semiannually on June 30 and December 31. Brown-Ferring’s fiscal period is the calendar year. Required: 1. Determine the amount of accrued interest that was included in the proceeds received from the bond sale. 2. Prepare the journal entry for the issuance of the bonds by Brown-Ferring.

Answer and Explanation:

1. The amount of the accrued interest rate is

= Principal × rate of interest × time period

= $100,000,000 × 12% × 2 months ÷ 12 months

= $2,000,000

The 2 months are considered from December 31 to March 31

2. And, the journal entry is

Cash Dr $101,000,000 ($99,000,000 + $2,000,000)

Discount on bond payable $1,000,000

       To Bond payable $100,000,000

        To Interest payable $2,000,000

(being the issuance of the bond is recorded)

Here it debited the cash as it increased the assets and credited the bond payable and interest payable as it also increased the liabilities

it should be

among other factors, composers started writing dynamic markings in their scores because "new instruments allowed for more dynamic ranges and contrast."

dynamics allude to the loudness or softness of music. dynamics offer an approach to demonstrate articulation in sheet music. they to drive the enthusiastic substance of music through volume and force. maybe you could alter both the volume and the shading profundity on your screen at the same time. we can likewise think about the force side of elements as the quality of a note. a few notes are intended to be played delicately and gently, while others are intended to be played all the more firmly.  

some dynamics markings have a letter 'm,' which remains for mezzo, signifying 'medium.' so a mezzo piano unique stamping resembles this (mp) and intends to play medium calm, while a mezzo specialty dynamic resembles this (mf) and intends to play medium loud.