on January 1, 2019, booth sales issued $10,000 in bonds for $10,900. these are 5-year bonds...
on January 1, 2019, booth sales issued $10,000 in bonds for $10,900. these are 5-year bonds with a stated rate of 4%, and pay semiannual interest. booth sales uses the straight-line method to amortize bond premium.
A) prepare the journal entry for the issuance of the bonds on January 1, 2019
B) prepare the journal entry for the first interest payment on June 30, 2019.
Homework Answers
01/01/2019.
Cash 10,900
To bond payable. 10000
To premium on issue of bonds. 900
Being bond issued at premium
30/06/2019
Interest in bond A/c (10000*4%)/2 200
To cash 200
Being interest on bond paid in cash
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on January 1, 2019, booth sales issued $10,000 in bonds for
$10,900. these are 5-year bonds...
3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year...
3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year...
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium. 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $10,900. They were 5-year bonds with...
On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond premium. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense? Journalize all required transactions on Jan 2 214, June 30 2014 and Dec 31 2014. Show calculations.
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year...
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond discount. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense? A) $200 B) $260 C) $60 D) $400
On January 1, 2017, Citywide Sales issued $23,000 in bonds for $30,800. These are eight-year bonds...
On January 1, 2017, Citywide Sales issued $23,000 in bonds for $30,800. These are eight-year bonds with a stated rate of 13% and pay semiannual interest. Citywide Sales uses the straight-line method to amortize the bond premium. On June 30, 2017, when Citywide makes the first payment to bondholders, what is the amount that will be reported as Interest Expense? (Round your intermediate answers to the nearest dollar.)
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds...
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds with a stated interest rate of 9% that pay semiannual interest. Westside Sales uses the straight – line method to amortize the bond premium. After the first interest payment on June 30, 2018, what is the bond carrying amount? (Round your intermediate answers to the nearest dollar.) O A. $19,113 O B. $20,800 O C. $20,687 OD. $19,000
On January 1, 2015, Carter Sales issued $15,000 in bonds for $15,800. They were 8-year bonds...
On January 1, 2015, Carter Sales issued $15,000 in bonds for
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semiannual interest. Carter Sales uses the straight-line method to
amortize the Bond Premium. Immediately after the issue of the
bonds, the ledger balances appeared as follows:
After the first interest payment on June 30, 2015, what will be the
balance in the Premium Account?
debit of $900
credit of $625
credit of $750
debit of $50
please provide the journa entries with the credited and debited section. 5. On January 1, 2014,...
please provide the journa entries with the credited and
debited section.
5. On January 1, 2014, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at a premium, for a total of $20,750, Please provide the journal entry to issue the bonds. (3 points) 6. On January 2, 2014. Mahoney Sales issued $10,000 in bonds for S10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales...
On January 1, 2019, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest. (a) Prepare the general journal entry to record the issuance of the bonds on January 1,2019 the co...
On January 1, 2019, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest. (a) Prepare the general journal entry to record the issuance of the bonds on January 1,2019 the company uses the effective interest method of amortization of any discount or premium on bonds. Prepare the June 30, 2019 and the second interest payment on December 31, 2019. general journal entry to record the first semiannual interest payment on Credit Debit Date
On January 1, 2019,...
Hillside issues $2,900,000 of 9%, 15 year bonds dated January 1, 2019, that pay interest semiannually...
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3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium. 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond discount. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense? A) $200 B) $260 C) $60 D) $400
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds with a stated interest rate of 9% that pay semiannual interest. Westside Sales uses the straight – line method to amortize the bond premium. After the first interest payment on June 30, 2018, what is the bond carrying amount? (Round your intermediate answers to the nearest dollar.) O A. $19,113 O B. $20,800 O C. $20,687 OD. $19,000
On January 1, 2015, Carter Sales issued $15,000 in bonds for
$15,800. They were 8-year bonds with a stated rate of 9%, and pay
semiannual interest. Carter Sales uses the straight-line method to
amortize the Bond Premium. Immediately after the issue of the
bonds, the ledger balances appeared as follows:
After the first interest payment on June 30, 2015, what will be the
balance in the Premium Account?
debit of $900
credit of $625
credit of $750
debit of $50
please provide the journa entries with the credited and
debited section.
5. On January 1, 2014, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at a premium, for a total of $20,750, Please provide the journal entry to issue the bonds. (3 points) 6. On January 2, 2014. Mahoney Sales issued $10,000 in bonds for S10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales...
On January 1, 2019, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest. (a) Prepare the general journal entry to record the issuance of the bonds on January 1,2019 the company uses the effective interest method of amortization of any discount or premium on bonds. Prepare the June 30, 2019 and the second interest payment on December 31, 2019. general journal entry to record the first semiannual interest payment on Credit Debit Date
On January 1, 2019,...
Hillside issues $2,900,000 of 9%, 15 year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $3,549,590 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2a) For each semiannual period, complete the table below to calculate the cash payment 2/b) For each semiannual period, complete the table below to calculate the straight-line premium amortization 21c) For each semiannual period, complete the...
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