Date | Accounts title | Debit | Credit |
01-May | Cash | $870,000 | |
Bonds Payable | $870,000 | ||
(to record issuance) | |||
01-Nov | Interest Expense [$870000 x 11% x 6/12] | $47,850 | |
Cash | $47,850 | ||
(to record semi annual interest payment) | |||
31-Dec | Interest Expense [$870000 x 11% x 2/12] | $15,950 | |
Interest Payable | $15,950 | ||
(to record accrual of 2 month interest) |
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $870,000 of 10-year, 11% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $780,000 of 25-year, 12% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $180,000 of 25-year, 11% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of 10-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of 10-year, 10% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Issued the bonds for cash at their face amount. May 1 Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record...
Entries for Issuing Bonds Abloye Co. produces and distributes semiconductors for use by computer manufacturers. Abloye Co. issued $700,000 of 10-year, 9% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1. Paid the interest on the bonds. Dec. 31. Recorded accrued interest for two months. Journalize...
eBook 3 Show Me How Calculator Print Item Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co.Issued $990,000 of 25-year, 10% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31...
15 1) Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $1,200,000 of 10-year, 12% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions for the current year. Refer to the Chart of Accounts for exact wording of account titles. May 1 Issued the bonds for...
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Bond Price United States Steel Corporation's 7.5% bonds due in 2022 were reported as selling for 104.5. Were the bonds selling at a premium or at a discount? Why is United States Steel able to sell its bonds at this price? The bonds were selling at a discount because the market rate of interest for similar quality bonds was lower than 7.5% Entries for Issuing Bonds bonds on May 1 of the current...
es EX 11-1 Bond price Obj. 1 United States Steel Corporation's 7.5% bonds due in 2022 were reported as selling for 104.5. Were the bonds selling at a premium or at a discount? Why is United States Steel able to sell its bonds at this price? WORLD EX 11-2 Entries for issuing bonds Obj. 2 Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $900,000 of 10-year, 7% bonds on May 1 of the current year...