Homework Answers
Solution:
| Journal Entries | |||
| Date | Particulars | Debit | Credit |
| 01-Jan | Cash | $10,000 | |
| Bonds payable | $10,000 | ||
| 30-Jun | Interest Expense Dr ($10000*6%*6/12) | $300 | |
| To Cash | $300 | ||
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Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $48,000 of 6.5%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $48,000 of 6.5%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list points Journal entry worksheet ( 8 02:18:20 Record the issuance of the bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal
Dunphy Company issued $12,000 of 6.5%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $12,000 of 6.5%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet 1 2 Record the issuance of the bonds. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Prey 2 of 9 FE Next > in $ N Search
Check my wor Dunphy Company issued $46,000 of 6.0%, 10 year bonds at par value on...
Check my wor Dunphy Company issued $46,000 of 6.0%, 10 year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits General Journal Credit Date Jan 01 Debit 45.000 Cash < Prev 20 of 27 !!! Next...
Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value...
Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $105,000 and semiannual interest payments. (0) (1) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Un amortized Premium $8,211 7,390 6,569 Carrying Value $113,211 112,390 111,569 (2) 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...
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....
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)...
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...
On January 1, 2021, Madison Products issued $41.7 million of 6%, 10-year convertible bonds at a...
On January 1, 2021, Madison Products issued $41.7 million of 6%, 10-year convertible bonds at a net price of $42.67 million. Madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight line method On June 1 2023. Madison notified bondholders of its intent to call...
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)...
Dunphy Company issued $48,000 of 6.5%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list points Journal entry worksheet ( 8 02:18:20 Record the issuance of the bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal
Dunphy Company issued $12,000 of 6.5%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet 1 2 Record the issuance of the bonds. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Prey 2 of 9 FE Next > in $ N Search
Check my wor Dunphy Company issued $46,000 of 6.0%, 10 year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30. View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits General Journal Credit Date Jan 01 Debit 45.000 Cash < Prev 20 of 27 !!! Next...
Wookie Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $105,000 and semiannual interest payments. (0) (1) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Un amortized Premium $8,211 7,390 6,569 Carrying Value $113,211 112,390 111,569 (2) 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...
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....
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)...
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...
On January 1, 2021, Madison Products issued $41.7 million of 6%, 10-year convertible bonds at a net price of $42.67 million. Madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 30 shares of Madison's no par common stock. Madison records interest by the straight line method On June 1 2023. Madison notified bondholders of its intent to call...
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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