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On January 1, 2013, Davie Services issued $20,000 of 8% bonds that mature in five years....
please answer the following questions. (journal entries) 1. On July 1, 2013. Avery Services issued a...
please answer the following questions.
(journal entries)
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2. Paris Company buys...
please write the joirnal entries with the debit and credit. 1. On July 1, 2013. Avery Services issued a 4% long-term...
please write the joirnal entries with the debit and
credit.
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2....
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...
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest...
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "S" sign in your response.) Date General Journal Debit Credit...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. Th...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $288.413. The journal entry to record the first interest payment using the effective interest method of amortization is: Multiple Choice Debit interest Payable $13.500 cred Cash $13,500 O Debit interest Expense...
Please write dollar amounts without any comma, point, or $ On January 1, 2013, Davie Services...
Please write dollar amounts without any comma, point, or $ On January 1, 2013, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On June 30, 2013, the total interest payments made to bondholders is $
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize...
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 110. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 112. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
On January 31, 018, Driftwood Logistics, Inc., issued five-year, 2% bonds payable with a face value...
On January 31, 018, Driftwood Logistics, Inc., issued five-year, 2% bonds payable with a face value of $11,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31. Driftwood Logistics amortizes bond discounts using the straight-line method.Read the requirement a. Record the issuance of the bond payable on January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Jan 31 Cash Discount on Bonds...
please answer the following questions.
(journal entries)
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2. Paris Company buys...
please write the joirnal entries with the debit and
credit.
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2....
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...
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "S" sign in your response.) Date General Journal Debit Credit...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $288.413. The journal entry to record the first interest payment using the effective interest method of amortization is: Multiple Choice Debit interest Payable $13.500 cred Cash $13,500 O Debit interest Expense...
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 110. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 112. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
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