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6. On January 1, 2015, Stapler & Stamps issued $700,000, 5%. 10-year bonds payable at face...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 112. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Lincoln Company issued $50,000 of 10-year, 8% bonds payable on January 1, 2018. Lincoln Company pays...
Lincoln Company issued $50,000 of 10-year, 8% bonds payable on January 1, 2018. Lincoln Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Lincoln Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exc i Requirements...
Rabbit Corp. issued 7.5 percent, 6-year bonds payable with a maturity value of $44,000 on January...
Rabbit Corp. issued 7.5 percent, 6-year bonds payable with a maturity value of $44,000 on January 1, 2018. Journalize the following transactions and include an explanation for each entry. The market rate of interest equaled the stated rate at the date of issuance. a. Issuance of the bond payable at par on January 1, 2018 b. Payment of semiannual interest on July 1, 2018 c. Payment of the bonds payable at maturity (give the date) a. Journalize the issuance of...
Columbus Company issued $90,000 of 10-year, 9% bonds payable on January 1, 2018. Columbus Company pays...
Columbus Company issued $90,000 of 10-year, 9% bonds payable on January 1, 2018. Columbus Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize...
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 110. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Lincoln Company issued $40,000 of 10-year, 6% bonds payable on January 1, 2018. Lincoln Company pays interest each Janu...
Lincoln Company issued $40,000 of 10-year, 6% bonds payable on January 1, 2018. Lincoln Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements Requirement 1. Journalize Lincoln Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Adam Company issued $40,000 of 10-year, 9% bonds payable on January 1, 2018. Adam Company pays...
Adam Company issued $40,000 of 10-year, 9% bonds payable on January 1, 2018. Adam Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Adam Company's issuance of the bonds and first semiannual Interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Obert Company issued a $140,000, 6%, 10 year bond payable at 88 on January 1, 2018....
Obert Company issued a $140,000, 6%, 10 year bond payable at 88 on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Read the requirements Requirement 1. Journalize the issuance of the bond payable on January 1, 2018. (Record debits first, then credits Select explanations on the last line of the journal entry) Date Accounts and Explanation Debit Credit 2018 Jan. 1 Requirement 2. Journalize the payment of semiannual interest and amortization of the bond discount...
On January 31, 2018, DurkinDurkin Logistics, Inc., issued five-year, 5% bonds payable with a face value of $5,000,00...
On January 31, 2018, DurkinDurkin Logistics, Inc., issued five-year, 5% bonds payable with a face value of $5,000,000. The bonds were issued at 96 and pay interest on January 31 and July 31. DurkinDurkin Logistics amortizes bond discounts using the straight-line method.Read the requirement a. Record the issuance of the bond payable on January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Jan 31 b. Record the payment...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Bryant Company issued $80,000, 2%, 10-year bonds payable at 90 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 112. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Lincoln Company issued $50,000 of 10-year, 8% bonds payable on January 1, 2018. Lincoln Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Lincoln Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exc i Requirements...
Rabbit Corp. issued 7.5 percent, 6-year bonds payable with a maturity value of $44,000 on January 1, 2018. Journalize the following transactions and include an explanation for each entry. The market rate of interest equaled the stated rate at the date of issuance. a. Issuance of the bond payable at par on January 1, 2018 b. Payment of semiannual interest on July 1, 2018 c. Payment of the bonds payable at maturity (give the date) a. Journalize the issuance of...
Columbus Company issued $90,000 of 10-year, 9% bonds payable on January 1, 2018. Columbus Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Alexander Company issued $160,000, 12%, 10-year bonds payable at 96 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018. 8. Assume the bonds payable was instead issued at 110. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Lincoln Company issued $40,000 of 10-year, 6% bonds payable on January 1, 2018. Lincoln Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements Requirement 1. Journalize Lincoln Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Adam Company issued $40,000 of 10-year, 9% bonds payable on January 1, 2018. Adam Company pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. Read the requirements. Requirement 1. Journalize Adam Company's issuance of the bonds and first semiannual Interest payment assuming the bonds were issued at face value. Explanations are not required. (Record debits first, then credits. Exclude explanations from...
Obert Company issued a $140,000, 6%, 10 year bond payable at 88 on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Read the requirements Requirement 1. Journalize the issuance of the bond payable on January 1, 2018. (Record debits first, then credits Select explanations on the last line of the journal entry) Date Accounts and Explanation Debit Credit 2018 Jan. 1 Requirement 2. Journalize the payment of semiannual interest and amortization of the bond discount...
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