Homework Answers
Straight line method :
| Year | Cash paid | Interest expense | Discount amortization | Carrying amount of bonds |
| Jan 1,2017 | 2229651 | |||
| Jan 1,2018 | 2500000*9% = 225000 | (225000+54070) = 279070 | (2500000-2229651/5) = 54070 | 2283721 |
| Jan 1,2019 | 225000 | 279070 | 54070 | 2337791 |
| Jan 1,2020 | 225000 | 279070 | 54070 | 2391861 |
| Jan 1,2021 | 225000 | 279070 | 54070 | 2445931 |
| Jan 1,2020 | 225000 | 279070 | 54070 | 2500001 |
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Your answer is partially correct. Try again Pharoah Company sells 9% bonds having a maturity value...
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Riverbed Company sells 10% bonds having a maturity value of
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mature January 1, 2022. Interest is payable annually on January
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decimal places, e.g. 38,548.)
Schedule of Discount Amortization
Straight-Line Method
Year
Cash
Paid
Interest
Expense
Discount
Amortized
Carrying
Amount of Bonds
Jan. 1, 2017
$
$
$
$
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Please explain detail
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Marin Company sells 10% bonds having a maturity value of $2,200,000 for $2,118,688. The bonds are...
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mature January 1, 2022. Interest is payable annually on January
1.
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mature January 1, 2022. Interest is payable annually on January
1.
Set up a schedule of interest expense and discount amortization
under the straight-line method. (Round answers to 0
decimal places, e.g. 38,548.)
Schedule of Discount Amortization
Straight-Line Method
Year
Cash
Paid
Interest
Expense
Discount
Amortized
Carrying
Amount of Bonds
Jan. 1, 2017
$
$
$
$
Jan. 1,...
Novak Company sells 10% bonds having a maturity value of $2,100.000 for $1.948.607. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is pay able annually on January 1 Set up a schedule of interest expense and discount amortization under the straight line method. (Round answers to decimal places a 38.548.) Schedule of Discount Amortization Straight-Line Method Interest Discount Amortized Year Paid Carrying Amount of Bonds Jan 1, 2017 Jan. 1. 2018 Jan 1, 2019 Jan....
Please explain detail
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Marin Company sells 10% bonds having a maturity value of
$2,200,000 for $2,118,688. The bonds are dated January 1, 2017, and
mature January 1, 2022. Interest is payable annually on January
1.
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