Homework Answers
| Date | General Journal | Debit | Credit |
| Jan 01 | Cash | 48000 | |
| Bonds payable | 48000 | ||
| June 30 | Interest expense (48000*6.5%*6/12) | 1560 | |
| Cash | 1560 |
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Dunphy Company issued $48,000 of 6.5%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is...
Dunphy Company issued $10,000 of 6%, 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 Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 1 of 17 !!!...
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...
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....
Check my work On January 1, Renewable Energy issues bonds that have a $30,000 par value,...
Check my work On January 1, Renewable Energy issues bonds that have a $30,000 par value, mature in six years, and pay 14% interest semiannually on June 30 and December 31 1. Prepare the journal entry for issuance assuming the bonds are issued at (0)99 and ( 1032 2. How much interest does the company pay (in cash) to its bondholders every six months if the bonds are sold at par? Complete this question by entering your answers in the...
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 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)...
Hillside issues $1,800,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on...
Hillside issues $1,800,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,555,401. Required: 1. Prepare the January 1, 2015, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,800,000 cash on January 1, 2015 at an issue price of $1,555,401. Note: Enter debits before credits. Date General Journal...
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, Boston Enterprises issues bonds that have a $1,600,000 par value, mature in 20...
On January 1, 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, (b) the first interest payment on
June 30, and (c) the second interest payment on December 31....
Dunphy Company issued $10,000 of 6%, 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 Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal < Prev 1 of 17 !!!...
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...
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....
Check my work On January 1, Renewable Energy issues bonds that have a $30,000 par value, mature in six years, and pay 14% interest semiannually on June 30 and December 31 1. Prepare the journal entry for issuance assuming the bonds are issued at (0)99 and ( 1032 2. How much interest does the company pay (in cash) to its bondholders every six months if the bonds are sold at par? Complete this question by entering your answers in the...
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 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)...
Hillside issues $1,800,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,555,401. Required: 1. Prepare the January 1, 2015, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,800,000 cash on January 1, 2015 at an issue price of $1,555,401. Note: Enter debits before credits. Date General Journal...
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, 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, (b) the first interest payment on
June 30, and (c) the second interest payment on December 31....
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