The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included...
The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 14% bonds having a face amount of $40 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 16%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 101 ($40.4 million) before their scheduled maturity. Required:...
The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 10% bonds having a face amount of $25 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 12%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 102 ($25.5 million) before their scheduled maturity. Required:...
The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 10% bonds having a face amount of $45 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 12%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 104 ($46.8 million) before their scheduled maturity. Required:...
Check my work The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 12% bonds having a face amount of $50 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 102 ($51.0 million) before their...
The long-term liability section of Twin Digital Corporation’s balance sheet as of December 31, 2017, included 12% bonds having a face amount of $30 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 102 ($30.6 million) before their scheduled maturity. Required:...
The long-term liability section of Twin Digital Corporation’s balance sheet as of December 31, 2017, included 12% bonds having a face amount of $25 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 104 ($26.0 million) before their scheduled maturity. Required:...
Problem 14-15 Early extinguishment; effective interest [LO14-5 The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2017, included 12% bonds having a face amount of $35 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 104...
Problem 14-15 Early extinguishment; effective interest [LO14-5] The long-term liability section of Twin Digital Corporation’s balance sheet as of December 31, 2017, included 14% bonds having a face amount of $35 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 16%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 102...
The long-term liability section of Eastern Post Corporation's balance sheet as of December 31, 2020, included 11% bonds having a face amount of $40.4 million and a remaining premium of $6.1 million. On January 1, 2021, Eastern Post retired some of the bonds before their scheduled maturity. Required: Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances below: 1. Eastern Post called half the bonds at the call price...
2 Problem 14-15 Early extinguishment; effective interest [L014-5] 2.5 of Twin Digital Corporation's balance sheet as of December 31, 2017, included 10% bonds million and a remaining discount of $1 milion. Disclosure notes indicate the bonds were issued to Interest expense Is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 103 ($51.5 million) before their scheduled maturity. Print Required: References 1.&2.Prepare...