Homework Answers
| Date | Accounts | Debit | Credit |
| Dec. 31, 2020 | Interest expense (750000*10%*6/12) | 37500 | |
| Discount on Bonds Payable | 15000 | ||
| Cash (750000*6%*6/12) | 22500 | ||
| Dec. 31, 2021 | Interest expense (750000*10%*6/12) | 37500 | |
| Discount on Bonds Payable | 15000 | ||
| Cash | 22500 |
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Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense 26,250 X Discount on Bonds Payable 3,750 X Cash 22,500 Interest Expense...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense 26,250 X Discount on Bonds Payable 3,750 X Cash 22,500 Interest Expense...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense Discount on Bonds Payable Cash 111 111 Dec. 31, 2021 Interest Expense...
Cornerstone Exercise 9-31 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $1,450,000 in...
Cornerstone Exercise 9-31 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $1,450,000 in 10% bonds (payable on December 31, 2029) on January 1, 2020, for $1,290,500. Interest is paid on June 30 and December 31. The market rate of interest is 12%. Required: Prepare the amortization table through December 31, 2021, using the effective interest rate method. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0"....
please explain how to find cash,bond payable, and interst expense Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued...
please explain how to find cash,bond payable, and interst
expense
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $650,000 in 8% bonds (payable on December 31, 2029) on January 1, 2020, for $617,500: Interest is paid on June 30 and December 31. The market rate of interest is 99% Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar Dec 31, 2020 Interest Expen Discount on...
eBook Calculator Cornerstone Exercise 9-34 Issued Bonds at a Discount (Effective Interest) Crafty Corporation issued $475,000...
eBook Calculator Cornerstone Exercise 9-34 Issued Bonds at a Discount (Effective Interest) Crafty Corporation issued $475,000 of 5%, 7-year bonds on January 1, 2020, for $448,484. Interest is paid annually on December 31. The market rate of interest is 6%. Required: Basic Prepare the journal entry for December 31, 2020 and 2021. If required, round your answers to the nearest whole dollar Dec 31, 2020 Interest Expense Cash Discount on Bonds Payable Dec 31, 2021 Interest Expense Cash Discount om...
Cornerstone Exercise 9-38 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 11%,...
Cornerstone Exercise 9-38 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 11%, 7-year bonds on January 1, 2020, for $220,132. Interest is paid annually on December 31. The market rate of interest is 9%. Required: Prepare the journal entries for December 31, 2021 and 2022. If required, round your answers to the nearest whole dollar. 19,812 x Dec 31, 2021 2004 Interest Expense Premium on Bonds Payable Cash 22,000 Dec 31, 2022 Interest Expense 19,615 x...
Cornerstone Exercise 9-38 Bonds issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 115, 7-...
Cornerstone Exercise 9-38 Bonds issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 115, 7-year bonds on January 1, 2020, for $220,132. Interest is paid Required: Prepare the journal entries for December 31, 2021 and 2022. required, round your answers to the nearest whole della on December 31. The market rate of interestis Dec 31, 2021 < Dec 31, 2022 Cudy Work 1 ore Check My Work uses remaining
Kiwi Corporation issued at par $350,000, 9% bonds on January 1, 2020. Interest is paid annually...
Kiwi Corporation issued at par $350,000, 9% bonds on January 1, 2020. Interest is paid annually on December 31. The principal and the final interest payment are due on December 31, 2021. Required: 1. Prepare the entry to recognize the issuance of the bonds. 2020 Jan. 1 Cash Bonds Payable Cash Discount on Bonds Payable Interest Expense Premium on Bonds Payable Bonds Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Premium on Bonds Payable Record issuance of bonds...
i am adding then subtract then devide still not getting the right numbers BB Week 8...
i am adding then subtract then devide still not
getting the right numbers
BB Week 8 Overview - ACCT1210: F X Cengage m/ilrn/takeAssignment/takeAssignment Main do?invoker=&takeAssignmentSessionLocator=&inprogress=false X CengageNOWv2 Online teachinx + aper ... Log Into JWU 18 Grammar Checker Johnson & Wales P Shared album - Dor p There's racial biasi. eBook More Than Half of Calculator Cornerstone Exercise 9-31 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $350,000 in 8% bonds (payable on December 31, 2029) on...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense 26,250 X Discount on Bonds Payable 3,750 X Cash 22,500 Interest Expense...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense 26,250 X Discount on Bonds Payable 3,750 X Cash 22,500 Interest Expense...
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $750,000 in 6% bonds (payable on December 31, 2029) on January 1, 2020, for $675,000. Interest is paid on June 30 and December 31. The market rate of interest is 10%. Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar. Dec. 31, 2020 Interest Expense Discount on Bonds Payable Cash 111 111 Dec. 31, 2021 Interest Expense...
please explain how to find cash,bond payable, and interst
expense
Cornerstone Exercise 9-32 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $650,000 in 8% bonds (payable on December 31, 2029) on January 1, 2020, for $617,500: Interest is paid on June 30 and December 31. The market rate of interest is 99% Required: Prepare the journal entries for December 31, 2020 and 2021. Round amounts to the nearest whole dollar Dec 31, 2020 Interest Expen Discount on...
eBook Calculator Cornerstone Exercise 9-34 Issued Bonds at a Discount (Effective Interest) Crafty Corporation issued $475,000 of 5%, 7-year bonds on January 1, 2020, for $448,484. Interest is paid annually on December 31. The market rate of interest is 6%. Required: Basic Prepare the journal entry for December 31, 2020 and 2021. If required, round your answers to the nearest whole dollar Dec 31, 2020 Interest Expense Cash Discount on Bonds Payable Dec 31, 2021 Interest Expense Cash Discount om...
Cornerstone Exercise 9-38 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 11%, 7-year bonds on January 1, 2020, for $220,132. Interest is paid annually on December 31. The market rate of interest is 9%. Required: Prepare the journal entries for December 31, 2021 and 2022. If required, round your answers to the nearest whole dollar. 19,812 x Dec 31, 2021 2004 Interest Expense Premium on Bonds Payable Cash 22,000 Dec 31, 2022 Interest Expense 19,615 x...
Cornerstone Exercise 9-38 Bonds issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 115, 7-year bonds on January 1, 2020, for $220,132. Interest is paid Required: Prepare the journal entries for December 31, 2021 and 2022. required, round your answers to the nearest whole della on December 31. The market rate of interestis Dec 31, 2021 < Dec 31, 2022 Cudy Work 1 ore Check My Work uses remaining
i am adding then subtract then devide still not
getting the right numbers
BB Week 8 Overview - ACCT1210: F X Cengage m/ilrn/takeAssignment/takeAssignment Main do?invoker=&takeAssignmentSessionLocator=&inprogress=false X CengageNOWv2 Online teachinx + aper ... Log Into JWU 18 Grammar Checker Johnson & Wales P Shared album - Dor p There's racial biasi. eBook More Than Half of Calculator Cornerstone Exercise 9-31 (Algorithmic) Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $350,000 in 8% bonds (payable on December 31, 2029) on...
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