eBook HintPrintReferences Check my work Check My Work button is now enabled2Item 2Item 2 33.33 points QS 14-8 Recording bond issuance and discount amortization LO P2 Snap Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $160,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance $ 8,300 $ 151,700 (1) June 30, first payment 7,470 152,530 (2) December 31, second payment 6,640 153,360 Use the above bond amortization table and 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.
1. Record the issuance of the bonds
2. Record the interest payment and amortization on June 30
3. Record the interest payment and amortization on December 31.
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Item1 eBook Check my work Check My Work button is now disabledItem 1 Item 1 On January 1, 2017, Boston Enterprises issues bonds that have a $1,600,000 par value, mature in 20 years, and pay 8% 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, 2017;...
Check my work Check my work Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. 071 Carrying Value Semiannual Period-End January 1, 1ssuance June 30, first paynent December 31, second payment (1) (2) points Unamortized Premium $7.951 7.156 6,361 99,156 98,361 eBook 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...
Snap Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $80,000 and semiannual interest payments Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Carrying Value $72,100 Unamortized Discount $ 7,900 (0) (1) (2) 7,110 72,890 6,320 73,680 Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the...
Snap Company issues 12%, five year bonds, on January 1 of this year, with a par value of $110,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Unamortized Discount Carrying Value $7,300 $102,700 6,570 103,430 5,840 104,160 Use the above bond amortization table and prepare journal entries to record (c) the issuance of bonds on January 1, (b) the first interest payment on June 30, and the second...
Paulson Company issues 8%, four-year bonds, on January 1 of this year, with a par value of $92,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance $ 6,573 $ 85,427 (1) June 30, first payment 5,751 86,249 (2) December 31, second payment 4,929 87,071 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....
Brussels Enterprises issues bond at...... Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate Exercise 10-2 Recording bond issuance at par, interest payments, and bond maturity LO P1 Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,400,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December 31. 1. Record the entry for the...
Help Save & Exit Submit Check my work Paulson Company issues 6%, four-year bonds, on December 31, 2017, with a par value of $200,000 and semiannual interest payments Semiannual Period unamortized carrying Value End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Discount $13, 466 11,782 10, 098 $186, 534 188, 218 189, 902 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2017 (b) The first interest payment...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Use the following bond amortization table and 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. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance ............. (1) June 30, first payment........... (2) December 31, second payment...
Exercise Help Save Submit Check my work Wookie Company issues 7%, five year bonds, on January 1 of this year with a par value of $101.000 and semiannual interest payments Unte Catal O) (1) (2) Selamat Period End January 1, issuance June 30, first payment December 31, second payment 7,318 5.505 103.31 101.505 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...
1. 2. Check my Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2 Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume...