Can you answer the following? Please show work. I am so confused and need to see the work.
1/1/21 - Record the bond issue.
6/30/21 - Record the first semiannual interest payment.
12/31/21 - Record the second semiannual interest payment.
Journal entries:
Date | Account title | Debit | Credit |
---|---|---|---|
1/1/21 |
Cash Premium on bonds payable Bonds payable |
$644257 . . |
. $54257 $590000 |
6/30/21 |
Interest expense ($644257 x 7% x (6/12) premium on bonds payable Cash ($590000 x 8% x (6/12) |
$22549 $1051 . |
. . $23600 |
12/31/21 |
Interest expense ($644257 - $1051) x 7% x (6/12) premium on bonds payable Cash ($590000 x 8% x (6/12) |
$22512 $1088 . |
. . $23600 |
Can you answer the following? Please show work. I am so confused and need to see...
Can anyone help me? I can't figure this out or the next
problem. Please show work :)
On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $590,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 9%, the bonds will issue at $541,948. Record the bond issue on January 1, 2021, and the first two semiannual...
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Required information The following information applies to the questions displayed below.] On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $470,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 8%, the bonds will issue at $470,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on...
thank you
Required information (The following information applies to the questions displayed below.) On January 1, 2021. Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $470,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. interest rate is 7%, the bonds will issue at $513,221. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December...
thank you
Required information (The following information applies to the questions displayed below) On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $470,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 9%, the bonds will issue at $431,721. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June...
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Required information The following information applies to the questions displayed below.) On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, Issues $560,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 7%, the bonds will issue at $560,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30,...
Required information [The following information applies to the questions displayed below) On January 1, 2021 Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $560,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 8%, the bonds will issue at $511.582. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021,...
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What would be the journal entries along with debits/credits
for
-bond issue on January 01, 2021
-the first semiannual interest payment on June 30, 2021
-the second semiannual interest payment on December 31, 2021
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $480,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $570,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 8%, the bonds will issue at $570,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30,...