Homework Answers
| General Journal | Debit | Credit |
| Interest expense | $46,410 | |
| Discount on Bonds Payable | $5,460 | |
| Cash | $40,950 |
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On the first day of the fiscal year, a company issues an $910,000, 9%, five-year bond...
On the first day of the fiscal year, a company issues an $315,000, 9%, five-year bond...
On the first day of the fiscal year, a company issues an $315,000, 9%, five-year bond that pays semiannual interest of $14,175 ($315,000 x 9% x 1/2), receiving cash of $296, 100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues a $910,000, 10%, five-year bond...
On the first day of the fiscal year, a company issues a $910,000, 10%, five-year bond that pays semiannual interest of $45,500 ($910,000 x 10% x 1/2), receiving cash of $884,171. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues an $911,000,6%, five-year bond that...
On the first day of the fiscal year, a company issues an $911,000,6%, five-year bond that pays semiannual interest of $27,330 (5911.000 x 65 x 1/2), receiving Cash of $856,300. Journalize the entry to record the first interest payment and the amortization of the related and discount using the straight-ire method If an amount box does not require an entry leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pa...
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pays semiannual interest of $156,000 ($2,600,000 x 12% x % ) , receiving cash of $2,221,467. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a...
On the first day of the fiscal year, a company issues an $931,000, 8%, five-year bond...
On the first day of the fiscal year, a company issues an $931,000, 8%, five-year bond that pays semiannual interest of $37,240 ($931,000 x 8% x 1/2), receiving cash of $875,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank. A $520,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for...
On the first day of the fiscal year, a company issues an $386,000, 7%, five-year bond...
On the first day of the fiscal year, a company issues an $386,000, 7%, five-year bond that pays semiannual interest of $13,510 ($386,000 x 7% x 1/2), receiving cash of $362,800. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues an $914,000, 8%, five-year bond...
On the first day of the fiscal year, a company issues an $914,000, 8%, five-year bond that pays semiannual interest of $36,560 ($914,000 x 8% x 1/2), receiving cash of $859,200. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues an $652,000, 796, five-year bond...
On the first day of the fiscal year, a company issues an $652,000, 796, five-year bond that pays semiannual interest of $22,820 $652,000 x 7% x 1/2), receiving cash of $612,900. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues a $822,000, 9%, 5-year bond...
On the first day of the fiscal year, a company issues a $822,000, 9%, 5-year bond that pays semiannual interest of $36,990 ($822,000 x 9% x 1/2), receiving cash of $772,700. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
1)On the first day of the fiscal year, a company issues a $7,600,000, 10%, 9-year bond...
1)On the first day of the fiscal year, a company issues a $7,600,000, 10%, 9-year bond that pays semiannual interest of $380,000 ($7,600,000 × 10% × ½), receiving cash of $6,410,700. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 2)On the first day of the fiscal year, a company issues a $7,700,000, 7%, 9-year bond that pays semiannual interest of $269,500 ($7,700,000 × 7% × ½), receiving cash of $7,212,620. Journalize the...
On the first day of the fiscal year, a company issues an $315,000, 9%, five-year bond that pays semiannual interest of $14,175 ($315,000 x 9% x 1/2), receiving cash of $296, 100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues a $910,000, 10%, five-year bond that pays semiannual interest of $45,500 ($910,000 x 10% x 1/2), receiving cash of $884,171. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues an $911,000,6%, five-year bond that pays semiannual interest of $27,330 (5911.000 x 65 x 1/2), receiving Cash of $856,300. Journalize the entry to record the first interest payment and the amortization of the related and discount using the straight-ire method If an amount box does not require an entry leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pays semiannual interest of $156,000 ($2,600,000 x 12% x % ) , receiving cash of $2,221,467. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a...
On the first day of the fiscal year, a company issues an $931,000, 8%, five-year bond that pays semiannual interest of $37,240 ($931,000 x 8% x 1/2), receiving cash of $875,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank. A $520,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for...
On the first day of the fiscal year, a company issues an $652,000, 796, five-year bond that pays semiannual interest of $22,820 $652,000 x 7% x 1/2), receiving cash of $612,900. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
On the first day of the fiscal year, a company issues a $822,000, 9%, 5-year bond that pays semiannual interest of $36,990 ($822,000 x 9% x 1/2), receiving cash of $772,700. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.
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