Homework Answers
Journal entry
| Date | account and explanation | Debit | Credit |
| Jan 1 | Cash | 3300000 | |
| Bonds payable | 3300000 | ||
| (To record bond issue) | |||
| June 30 | Interest expense (3300000*10%*6/12) | 165000 | |
| Cash | 165000 | ||
| (To record interest paid) | |||
| Dec 31 | Interest expense | 165000 | |
| Cash | 165000 | ||
| (To record interest paid) | |||
| Dec 31 | Bonds payable | 3300000 | |
| Cash | 3300000 | ||
| (To record bond redemption) | |||
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Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,300,000 par value,...
Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,700,000 par value,...
Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,700,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...
Connect Assignment: Chapter 10 6 Brussels Enterprises issues bonds at par dated January 1, 2019, that...
Connect Assignment: Chapter 10 6 Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,800,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. points 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31,...
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20...
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1: (b) the first interest payment on June 30; and (c) the second interest payment on December 31....
Exercise 10-2 Recording bond issuance at par, interest payments, and bond maturity LO P1 Brussels Enterprises...
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On January 1, Boston Enterprises issues bonds that have a $1,600,000 par value, mature in 20...
On January 1, Boston Enterprises issues bonds that have a
$1,600,000 par value, mature in 20 years, and pay 8% interest
semiannually on June 30 and December 31. The bonds are sold at
par.
1. How much interest will Boston pay (in cash) to
the bondholders every six months?
2. Prepare journal entries to record (a) the
issuance of bonds on January 1, (b) the first interest payment on
June 30, and (c) the second interest payment on December 31....
1. 2. Check my Brussels Enterprises issues bonds at par dated January 1, 2019, that have...
1.
2.
Check my Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2 Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume...
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,913 6,049 5,185 Carrying Value $102,087 102,951 103,815 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The...
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $7,951 7,156 6,361 Carrying Value $99,951 99, 156 98,361 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c)...
Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $102,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8,151 7,336 6,521 Carrying Value $110,151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The...
Paulson Company issues 9%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 9%, four-year bonds, on January 1 of this year, with a par value of $101,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,753 5,909 5,065 Carrying Value $94, 247 95,091 95,935 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c)...
Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,700,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already...
Connect Assignment: Chapter 10 6 Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,800,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. points 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31,...
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1: (b) the first interest payment on June 30; and (c) the second interest payment on December 31....
Exercise 10-2 Recording bond issuance at par, interest payments, and bond maturity LO P1 Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,200,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for...
On January 1, Boston Enterprises issues bonds that have a
$1,600,000 par value, mature in 20 years, and pay 8% interest
semiannually on June 30 and December 31. The bonds are sold at
par.
1. How much interest will Boston pay (in cash) to
the bondholders every six months?
2. Prepare journal entries to record (a) the
issuance of bonds on January 1, (b) the first interest payment on
June 30, and (c) the second interest payment on December 31....
1.
2.
Check my Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2 Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume...
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,913 6,049 5,185 Carrying Value $102,087 102,951 103,815 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The...
Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $7,951 7,156 6,361 Carrying Value $99,951 99, 156 98,361 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c)...
Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $102,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8,151 7,336 6,521 Carrying Value $110,151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The...
Paulson Company issues 9%, four-year bonds, on January 1 of this year, with a par value of $101,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,753 5,909 5,065 Carrying Value $94, 247 95,091 95,935 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c)...
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