Journal entry
date | account and explanation | Debit | Credit |
Dec 31 | Interest expense (1375221*3%) | 41257 | |
Premium on bonds payable | 3543 | ||
Interest payable (1280000*7%*6/12) | 44800 |
On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a...
On July 1, 2017, Global Satellites Corporation issued $1,290,000 of 10-year, 6 % bonds to vield a market interest rate of 5%. The bonds pay semi-annual interest on July 1 and January 1, Global has a December 31 year end. When the bonds were issued, Global recelved $1,390,548 Click here to view.the factor table. Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.) GLOBAL SATELLITES...
Question 4 On July 1, 2017, Global Satellites Corporation issued $1,550,000 of 10-year, 6% bonds to yield a market interest rate of 5%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,670,815 Click here to view the factor table. Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.)...
Question 4 On July 1, 2017, Global Satellites Corporation issued $1,800,000 of 10-year, 8% bonds to yield a market interest rate of 7%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,927,919 Click here to view the factor table. Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.)...
On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,375,221 Click here to view the factor table. (a) Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.)...
PRINTER VERSION BACK NEXT Question 4 On July 1, 2017, Global Satellites Corporation issued $1,390,000 of 10-year 8% bonds to yield a market interest rate of 7%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,488,781 Click here to view the factor table. Your answer is partially correct. Try again. Prepare an amortization table through January 1, 2019 (three interest periods) for this...
On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,375,221 Your answer is incorrect. Prove the issue proceeds of the bonds on July 1, 2017, by calculating the present value of the bonds at that time. (For calculation purposes, use 5 decimal places...
Question 4 On July 1, 2017, Global Satellites Corporation issued $1,510,000 of 10-year, 6% bonds to yield a market interest rate of 5%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,627,697 Click here to view the factor table. Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.)...
Brief Exercise 10-17 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $640,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually. Your answer is partially correct. Try again. Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%....
Exercise 10-14 Tarawa Limited issued $1,340,000 of 10-year, 5% bonds on January 1, 2018, when the market interest rate was 6%. Tarawa received $1,240,326 when the bonds were issued. Interest is payable semi- annually on July 1 and January 1. Tarawa has a December 31 year end. Your answer is partially correct. Try again. Record the issue of the bonds on January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account...
Exercise 10-14 Tarawa Limited issued $1,250,000 of 10-year, 5% bonds on January 1, 2018, when the market interest rate was 6%. Tarawa received $1,157,021 when the bonds were issued. Interest is payable semi-annually on July 1 and January 1. Tarawa has a December 31 year end. Record the issue of the bonds on January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 SHOW...