Question

Prepare anamon schedule that GODNO s h e 72/2354 r-0.036 Por n=81 Stml Periods A semiannual interest Pred-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 22- 06/30/2023 12/31/2023 06/30/2024 12/31/2024 SCD20278 TODO20359 16 DOO 20uu 2, 35620 STODO 22,527 06417 16000 2016 A542- COD020 70 12707 Salt 140DD20) bol 2 361 54190, 1 18000 20900 2 200 000 Iyy,000 164627 Total 4. Prepare the joumal entry to record interest on June 30, 2021. 11 Jun 30, 21 5 & 6. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 2021? What is the amount related to the bonds that Patey will report in its income statement for the year ended December 31, 2021? (Ignore income taxes.) 5. December 31, 2021 book value 6. Interest expense for 2021 7. Prepare the appropriate journal entries at maturity on December 31, 2024.

Answer 1

4.

Date	Particulars	Debit	Credit
30/6/21	Bond interest expense A/c	20,278
	To Cash A/c		18,000
	To Profit and loss A/c		2,278

5. Book value - 584000 (I am not able to read it properly but the amount in the range of 584k is the answer.

6. Interest expense for 2021 = 20278+20359 = 40637

7.

Date	Particulars	Debit	Credit
31/12/24	Bond interest expense A/c	20,900
	To Cash A/c		18,000
	To Profit and loss A/c		2,900
31/12/24	Bond A/c	600,000
	To Cash A/c		600,000