how to determine what the bond interest expense and disciunt on bonds payable is.
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Bond Discount, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Discount On July 1,...
Bond Discount, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Discount On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $32,000,000 of 20-year, 11% bonds at a market (effective) interest rate of 14%, receiving cash of $25,601,920. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries: For a compound transaction, if an amount box does...
Help on interest expense and premium on bonds payable Instructions Campbell, Inc. produces and sells outdoor...
Help on interest expense and premium on bonds payable
Instructions Campbell, Inc. produces and sells outdoor equipment. On July 1, 20Y1. Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $31,951,110. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the...
A13-8 Interest Expense: Hambelton Ltd. issued $4,000,000 of 5% bonds payable on 1 September 20X9 to...
A13-8 Interest Expense: Hambelton Ltd. issued $4,000,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20x8, and had an original term of five years. The accounting period ends on 31 December. The effective-interest method is used. Required: 1. Determine the price at which the bonds were issued. 2. Prepare a bond amortization table for the...
I don't understand how they got the bond interest expense, premium on bond payable, and discount...
I don't understand how they got the bond interest expense,
premium on bond payable, and discount on bond payable. Please
explain the computations involved. Thanks
Assumptions: a) interest and amortization are done by the straight-line method; b) interest is paid semiannually on June 30 and December 31. Journalize the following transactions. Post #1 only to the appropriate T accounts. 1 Dominic Company issues $5 million, 5-year, 9% bonds at 103. 1 / 1 از ددد, 155 Cash issued bonds س...
Trying to figure out interest expense and premium on bonds payable :) Instructions Campbell Inc. produces...
Trying to figure out interest expense and premium on bonds
payable :)
Instructions Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $11,300,000 of 10-year, 11% bonds at a market (effective) interest rate of 9%, receiving cash of $12,769,867. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the...
How does a company account for the difference between interest expense and the cash payment of interest when bond...
How does a company account for the difference between interest expense and the cash payment of interest when bonds are issued at less than their face value? O A. The difference is accounted for using Bonds Payable OB. The difference is accounted for using Amortization of Bond Discount OC. The difference is accounted for using Amortization of Bond Premium. O D. In this situation the cash payment of interest will exceed interest expense The carrying amount of bonds issued at...
Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount Journal Instructions Chart...
Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount Journal Instructions Chart of Accounts Final Question Instructions On July 1, 20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market (effective) interest rate of 8%, receiving cash of $37,282,062. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash...
Bond premium, entries for bonds payable transactions, interest method of amortizing bond premium Instructions Chart of...
Bond premium, entries for bonds payable transactions, interest method of amortizing bond premium Instructions Chart of Accounts ! Journal ! Final Question Instructions Campbell, Inc. produces and sells outdoor equipment. On July 1, 20Y1. Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $31,951,110. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the...
Bond Discount, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Discount On July 1,...
Bond Discount, Entries for Bonds Payable Transactions, Interest Method of Amortizing Bond Discount On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $63,000,000 of 20-year, 11% bonds at a market (effective) interest rate of 14%, receiving cash of $50,403,780. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave...
please solve this for me, thanks PR 14-5A Bond discount, entries for bonds payable transactions, interest...
please solve this for me, thanks
PR 14-5A Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount On July 1, 2016, Merideth Industries Inc. issued $28,500,000 of 10-year, 8% bonds at a market (effective) interest rate of 9%, receiving cash of $26,646,292. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Joumalize the entry to record the amount of cash...
Help on interest expense and premium on bonds payable
Instructions Campbell, Inc. produces and sells outdoor equipment. On July 1, 20Y1. Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $31,951,110. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the...
A13-8 Interest Expense: Hambelton Ltd. issued $4,000,000 of 5% bonds payable on 1 September 20X9 to yield 4%. Interest on the bonds is paid semi-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20x8, and had an original term of five years. The accounting period ends on 31 December. The effective-interest method is used. Required: 1. Determine the price at which the bonds were issued. 2. Prepare a bond amortization table for the...
I don't understand how they got the bond interest expense,
premium on bond payable, and discount on bond payable. Please
explain the computations involved. Thanks
Assumptions: a) interest and amortization are done by the straight-line method; b) interest is paid semiannually on June 30 and December 31. Journalize the following transactions. Post #1 only to the appropriate T accounts. 1 Dominic Company issues $5 million, 5-year, 9% bonds at 103. 1 / 1 از ددد, 155 Cash issued bonds س...
Trying to figure out interest expense and premium on bonds
payable :)
Instructions Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $11,300,000 of 10-year, 11% bonds at a market (effective) interest rate of 9%, receiving cash of $12,769,867. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the...
How does a company account for the difference between interest expense and the cash payment of interest when bonds are issued at less than their face value? O A. The difference is accounted for using Bonds Payable OB. The difference is accounted for using Amortization of Bond Discount OC. The difference is accounted for using Amortization of Bond Premium. O D. In this situation the cash payment of interest will exceed interest expense The carrying amount of bonds issued at...
Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount Journal Instructions Chart of Accounts Final Question Instructions On July 1, 20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market (effective) interest rate of 8%, receiving cash of $37,282,062. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash...
Bond premium, entries for bonds payable transactions, interest method of amortizing bond premium Instructions Chart of Accounts ! Journal ! Final Question Instructions Campbell, Inc. produces and sells outdoor equipment. On July 1, 20Y1. Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $31,951,110. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the...
please solve this for me, thanks
PR 14-5A Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount On July 1, 2016, Merideth Industries Inc. issued $28,500,000 of 10-year, 8% bonds at a market (effective) interest rate of 9%, receiving cash of $26,646,292. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Joumalize the entry to record the amount of cash...
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