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The Waterway Company issued $360,000 of 7% bonds on January 1, 2020. The bonds are due...
at 97. The Windsor Company issued $360,000 of 11% bonds on January 1, 2017, The bonds...
at 97. The Windsor Company issued $360,000 of 11% bonds on January 1, 2017, The bonds are due January 1, 2022, with interest payable each July 1 and January 1, The bonds were issued Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Windsor Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. 2. On June 1, 2020, Waterway Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the...
Your answer is partially correct. Try again. The Blue Company issued $250,000 of 11% bonds on...
Your answer is partially correct. Try again. The Blue Company issued $250,000 of 11% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds were issued at 96. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Blue Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter for the...
The Sheridan Company issued $420,000 of 9% bonds on January 1, 2020. The bonds are due...
The Sheridan Company issued $420,000 of 9% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Sheridan's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically...
On January 1, 2020, Pronghorn Corporation issued $610,000 of 9% bonds, due in 10 years. The...
On January 1, 2020, Pronghorn Corporation issued $610,000 of 9% bonds, due in 10 years. The bonds were issued for $651,453, and pay interest each July 1 and January 1. The effective-interest rate is 8%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Pronghorn uses the effective-interest method. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to O decimal places,...
Question 2 Grouper Limited issued $393,000 of 8% bonds on January 1, 2020. The bonds are...
Question 2 Grouper Limited issued $393,000 of 8% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 98. Grouper Limited follows ASPE and records the amortization using the straight-line method. v (a) V Your answer is correct. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Question 3 Ayayai Limited issued $300,000 of 7% bonds on January 1, 2020. The bonds are...
Question 3 Ayayai Limited issued $300,000 of 7% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 101. Ayayai Limited follows ASPE and records the amortization using the straight-line method. (a) Your answer is correct. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If...
On January 1, 2020, Bonita Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The...
On January 1, 2020, Bonita Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025. Bonita Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Bonita Company sold the bonds for $333,764 after receiving interest to meet its liquidity needs. Prepare the journal entry to record the purchase of bonds...
Sarasota Limited issued $380,000 of 9% bonds on January 1, 2020. The bonds are due on...
Sarasota Limited issued $380,000 of 9% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 97. Sarasota Limited follows ASPE and records the amortization using the straight-line method. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
The Novak Company issued $320,000 of 10% bonds on January 1, 2020. The bonds are due...
The Novak Company issued $320,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Novak’s journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically...
at 97. The Windsor Company issued $360,000 of 11% bonds on January 1, 2017, The bonds are due January 1, 2022, with interest payable each July 1 and January 1, The bonds were issued Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Windsor Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. 2. On June 1, 2020, Waterway Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the...
Your answer is partially correct. Try again. The Blue Company issued $250,000 of 11% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds were issued at 96. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Blue Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter for the...
The Sheridan Company issued $420,000 of 9% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Sheridan's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically...
On January 1, 2020, Pronghorn Corporation issued $610,000 of 9% bonds, due in 10 years. The bonds were issued for $651,453, and pay interest each July 1 and January 1. The effective-interest rate is 8%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Pronghorn uses the effective-interest method. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to O decimal places,...
Question 2 Grouper Limited issued $393,000 of 8% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 98. Grouper Limited follows ASPE and records the amortization using the straight-line method. v (a) V Your answer is correct. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Question 3 Ayayai Limited issued $300,000 of 7% bonds on January 1, 2020. The bonds are due on January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at 101. Ayayai Limited follows ASPE and records the amortization using the straight-line method. (a) Your answer is correct. Prepare the journal entry related to the bonds for January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If...
On January 1, 2020, Bonita Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025. Bonita Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Bonita Company sold the bonds for $333,764 after receiving interest to meet its liquidity needs. Prepare the journal entry to record the purchase of bonds...
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