Homework Answers
Par value of bonds = $113,000
Cash to be paid on maturity = $113,000
The following journal entry will be made at Dec 31, 2022 for the maturity of bonds
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| Dec 31, 2022 | Bonds payable | 113,000 | |
| Cash | 113,000 | ||
| (To record payment of bonds) |
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[The following information applies to the questions
displayed below.]
Duval Co. issues four-year bonds with a $106,000 par value on
January 1, 2019, at a price of $100,944. The annual contract rate
is 8%, and interest is paid semiannually on June 30 and December
31.
Prepare journal entries to record the first
two interest payments. (Round your answers to the nearest
dollar amount.)
2) Record the interest
payment and discount amortization on December 31, 2019.
Options for the General Journal...
Required information (The following information applies to the questions displayed below.) Duval Co. issues four-year bonds with a $109,000 par value on January 1, 2019, at a price of $104,910. The annual contract rate is 5%, and interest is paid semiannually on June 30 and December 31. 1. Prepare a straight-line amortization table for these bonds. (Round your answers to the nearest dollar amount.) Unamortized Discount Carrying Value Semiannual Period-End 1/01/2019 6/30/2019 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 6/30/2022 12/31/2022
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