Presented below is a partial amortization schedule for a business.
(1) |
(2) |
(3) |
(4) |
(5) |
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Period |
Cash Paid |
Interest |
Increase in |
Carrying |
|||||||||||||
Issue date |
$ |
64,097 |
|||||||||||||||
1 |
$ |
2,070 |
$ |
2,243 |
$ |
173 |
64,270 |
||||||||||
2 |
2,070 |
2,249 |
179 |
64,449 |
|||||||||||||
Record the bond issue and first interest payment assuming the face amount of bonds payable is $69,000. 1 Cash Discount on Bonds Payable Bonds Payable 69,000 2 Interest Expense Discount on Bonds Payable Cash |
Debit | Credit | ||
1 | Cash | 64097 | |
Discount on Bonds Payable | 4903 | ||
Bonds Payable | 69000 | ||
2 | Interest Expense | 2243 | |
Discount on Bonds Payable | 173 | ||
Cash | 2070 |
Presented below is a partial amortization schedule for a business. (1) (2) (3) (4) (5) Period...
Presented below is a partial amortization schedule for Discount Pizza. (1) (2) (3) (4) (5) Cash Increase Paid in Carrying Carrying Value for Interest Period Value Interest Expense Issue date $64,097 64,270 $2,070 $2,243 $173 2 2,070 2,249 179 64,449 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $69,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)...
Presented below is a partial amortization schedule for Discount Pizza. (3) (5) (2) Cash Paid for Interest (4) Increase in Carrying Value Period Issue date Interest Expense $2,070 2,070 $2,243 2,249 Carrying Value $64,097 64,270 6 4,449 $173 179 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $69.000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View...
Presented below is a partial amortization schedule for Discount Pizza. (1) (3) (5) (2) Cash Paid for Interest Interest Expense Increase in Carrying Value Period Issue date Carrying Value $63,948 64,056 64,168 - $2,450 2,450 $2,558 2,562 $ 108 112 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $70,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.)
Presented below is a partial amortization schedule for Premium Pizza. (1) (2) - (3) (4) (5) Cash Paid for Interest Decrease in Carrying Value Interest Expense Period Issue date Carrying Value $62,521 62,344 62,163 $1,740 1,740 $1,563 1,559 $ 177 181 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $58,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account...
Presented below is a partial amortization schedule for Premium Foods: Interest Increase in Carrying Period Cash Paid Expense Carrying Value Value Issue Date $ 85,900 1 $ 4,000 $ 3,436 $ 564 85,336 2 4,000 3,413 587 84,749 Record the bond issue assuming the face value of bonds payable is $80,000 and first interest payment.
Presented below is a partial amortization schedule for Discount Pizza. (1) (3) (5) (2) Cash Paid for Interest (4) Increase in Carrying Value Interest Expense Period Issue date Carrying Value $51,092 51,230 51,373 $1,650 1,650 $1,788 1,793 $138 143 2 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $55,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)...
Presented below is a partial amortization schedule for Discount Foods: Period Issue Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value $74,900 75,696 76,524 $2,200 2,200 $2,996 3,028 $796 828 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $90,000 and first interest payment. (If for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the bond issue. < Prev...
Brief Exercise 9-14 Interpret a bond amortization schedule (LO9-5) Presented below is a partial amortization schedule for Discount Pizza (5) Cash Paid for Interest Increase in Carrying Value Interest Expense Period Issue date Carrying Value $61,207 61,310 61,417 52,345 2,345 52,448 2,452 5103 107 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $67,000. (If no entry it required for a particular transaction/event, select "No Journal Entry Required in...
Check my work Presented below is a partial amortization schedule for Discount Pizza. (1) (5) (2) Cash Paid for Interest (4) Increase in Carrying Value Interest Expense Period Issue date carrying Value $54,834 54,929 55,027 $95 $1,550 1,550 $1,645 1,648 98 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $62,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account...
Presented below is a partial amortization schedule for Premium Foods: Help Save & Exit Submit Period Issue Date Cash Paid Interest Expense Increase in Carrying Value Carrying $4,109 4,100 $3,436 3,409 $664 691 Value $85,980 85,236 84,545 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $75,000 and first interest payment. (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list...