Journal entries During two consecutive years, Antlers Company, Inc., completed the following transactions: Year 1 June...
How are interest payments calculated on a $750k 20 year bond at 12% paying semiannually? Straight line amortization. 20yr = 40 semi-annual punts During two consecutive years, Antlers Company, Inc., completed the following transactions: 750,000 Year 1 June 1 Issued $750,000 face value, 20-year, 12 percent bonds, dated June 1 of this year, at 103. Interest is payable semiannually on December 1 and June 1 V Dec. 1 Paid semiannual interest on the bonds. 31 Recorded an adjusting entry for...
Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 20Y1 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 20Y1, at a market (effective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is combined with the semiannual interest payment. 20Y2...
Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $6,600,000 of five-year, 5% callable bonds dated July 1, Year 1, at a market (effective) rate of 7%, receiving cash of $6,325,552. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of s27,445 is combined with the semiannual interest...
The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $2,470,000 of five-year, 6% callable bonds dated July 1, Year 1, at a market (effective) rate of 8%, receiving cash of $2,269,661. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $20,034 is combined with the semiannual interest payment. Dec. 31. Closed the interest expense...
................. Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 20Y1 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 20Y1, at a market (effective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is combined with the semiannual interest payment....
Entries for Bonds Payable and Installment Note Transactions The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $6,770,000 of five-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 12%, receiving cash of $6,520,861. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $310,000 by issuing a 10-year, 7% installment note to Intexicon Bank. The note requires annual payments of...
Entries for Bonds Payable and Installment Note Transactions The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $1,330,000 of five-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 12%, receiving cash of $1,281,055. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $380,000 by issuing a 10-year, 8% installment note to Intexicon Bank. The note requires annual payments of...
Entries for Bonds Payable and Installment Note Transactions The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $5,340,000 of five-year, 7% callable bonds dated July 1, Year 1, at a market (effective) rate of 8%, receiving cash of $5,123,440. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $430,000 by issuing a 10-year, 6% installment note to Intexicon Bank. The note requires annual payments of...
Entries for Bonds Payable and Installment Note Transactions The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $5,820,000 of five-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 12%, receiving cash of $5,605,822. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $430,000 by issuing a 10-year, 6% installment note to Intexicon Bank. The note requires annual payments of...
Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $2,790,000 of five-year, 9% callable bonds dated July 1, Year 1, at a market (effective) rate of 11%, receiving cash of $2,579,701. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $21,030 is combined with the semiannual Interest...