On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with...
On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $547,940. Exercise 9-12A Part 2 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.)
Homework Answers
| Date | Accounts | Debit | Credit |
| January 1, 202 | Cash | $547,940 | |
| Premium on Bonds Payable | $37,940 | ||
| Bonds Payable | $510,000 | ||
| June 30, 2021 | Interest expense (547940*6%*6/12) | 16438 | |
| Premium on Bonds Payable | 1412 | ||
| cash (510000*7%*6/12) | 17850 | ||
| December 31, 2021 | Interest expense (547940*6%*6/12) | 16438 | |
| Premium on Bonds Payable | 1412 | ||
| cash (510000*7%*6/12) | 17850 |
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On January 1, 2021, White Water issues $510,000 of 7% bonds, due
in 10 years, with...
On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with...
On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $547,940. Exercise 9-12A Part 1 Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.)
E9-11 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years,...
E9-11 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559,229. 1. Complete the first three rows of an amortization schedule. 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021.
E9-12 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years,...
E9-12 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Record at a pr relate intere Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $644,632. 1. Complete the first three rows of an amortization schedule. 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June...
[The following information applies to the questions displayed below] On January 1, 2021, White Water issues...
[The following information applies to the questions displayed below] On January 1, 2021, White Water issues $460,000 of 5 % bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year Assuming the market interest rate on the issue date is 6 %, the bonds willl issue at $414,920. Exercise 9-11A Part 2 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and...
On January 1, 2021, White Water issues $560,000 of 6% bonds, due in 20 years, with...
On January 1, 2021, White Water issues $560,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $560,000. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the...
On January 1, 2021, White Water issues $480,000 of 6% bonds, due in 20 years, with...
On January 1, 2021, White Water issues $480,000 of 6% bonds, due
in 20 years, with interest payable annually on December 31 each
year.
Assuming the market interest rate on the issue date is 5%, the
bonds will issue at $539,819.
Required information Exercise 9-14A Record bonds issued at a discount and related annual interest (LO9-5) (The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $410,000 of 7% bonds, due in 10 years,...
Check my work On January 1, 2021, White Water issues $490,000 of 5 % bonds, due...
Check my work On January 1, 2021, White Water issues $490,000 of 5 % bonds, due in 15 years, with interest payable annually on December 31 each year Required: Assuming the market interest rate on the issue date is 5 % , the bonds will issue at $490,000. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select...
On January 1, 2021, Splash City Issues $500,000 of 9% bonds, due in 20 years, with...
On January 1, 2021, Splash City Issues $500,000 of 9% bonds, due in 20 years, with Interest payable semiannually on June 30 and December 31 each year. 1.66 points Required: Assuming the market Interest rate on the issue date is 9%, the bonds will issue at $500,000. Record the bond issue on January 1, 2021, and the first two semiannual Interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select...
On January 1, 2021, Splash City issues $450,000 of 7% bonds, due in 10 years, with...
On January 1, 2021, Splash City issues $450,000 of 7% bonds, due
in 10 years, with interest payable semiannually on June 30 and
December 31 each year.
Assuming the market interest rate on the issue date is 8%, the
bonds will issue at $419,423.
Required: 1. Complete the first three rows of an amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 1/1/21 6/30/21 12/31/21...
Exercise 9-10A Record bonds issued at face amount and related semiannual interest (LO9-5) On January 1,...
Exercise 9-10A Record bonds issued at face amount and related semiannual interest (LO9-5) On January 1, 2021, White Water issues $490,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 5%, the bonds will issue at $490,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31,...
E9-11 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559,229. 1. Complete the first three rows of an amortization schedule. 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021.
E9-12 On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Record at a pr relate intere Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $644,632. 1. Complete the first three rows of an amortization schedule. 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June...
[The following information applies to the questions displayed below] On January 1, 2021, White Water issues $460,000 of 5 % bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year Assuming the market interest rate on the issue date is 6 %, the bonds willl issue at $414,920. Exercise 9-11A Part 2 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and...
On January 1, 2021, White Water issues $560,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $560,000. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the...
On January 1, 2021, White Water issues $480,000 of 6% bonds, due
in 20 years, with interest payable annually on December 31 each
year.
Assuming the market interest rate on the issue date is 5%, the
bonds will issue at $539,819.
Required information Exercise 9-14A Record bonds issued at a discount and related annual interest (LO9-5) (The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $410,000 of 7% bonds, due in 10 years,...
Check my work On January 1, 2021, White Water issues $490,000 of 5 % bonds, due in 15 years, with interest payable annually on December 31 each year Required: Assuming the market interest rate on the issue date is 5 % , the bonds will issue at $490,000. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select...
On January 1, 2021, Splash City Issues $500,000 of 9% bonds, due in 20 years, with Interest payable semiannually on June 30 and December 31 each year. 1.66 points Required: Assuming the market Interest rate on the issue date is 9%, the bonds will issue at $500,000. Record the bond issue on January 1, 2021, and the first two semiannual Interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select...
On January 1, 2021, Splash City issues $450,000 of 7% bonds, due
in 10 years, with interest payable semiannually on June 30 and
December 31 each year.
Assuming the market interest rate on the issue date is 8%, the
bonds will issue at $419,423.
Required: 1. Complete the first three rows of an amortization table. (Round your intermediate and final answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 1/1/21 6/30/21 12/31/21...
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