Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of 10-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.
| May 1 | Issued the bonds for cash at their face amount. |
| Nov. 1 | Paid the interest on the bonds. |
| Dec. 31 | Recorded accrued interest for two months. |
Journalize the entries to record the above selected transactions for the current year. Round your answers to whole number.
| May 1 | |||
| Nov. 1 | |||
| Dec. 31 | |||
Homework Answers
| Cash | 450,000 | |
| Bonds payable | 450,000 | |
| Interest expense | 18,000 | |
| Cash | 18,000 | |
| (450,000*8%*6/12) | ||
| Interest expense | 6000 | |
| Interest payable | 6000 | |
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Thomson Co. produces and distributes semiconductors for use by
computer manufacturers. Thomson Co. issued $450,000 of...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of 10-year, 10% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Issued the bonds for cash at their face amount. May 1 Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $780,000 of 25-year, 12% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomso...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $870,000 of 10-year, 11% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $870,000 of 10-year, 11% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $180,000 of 25-year, 11% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the...
Entries for Issuing Bonds Abloye Co. produces and distributes semiconductors for use by computer manufacturers. Abloye...
Entries for Issuing Bonds Abloye Co. produces and distributes semiconductors for use by computer manufacturers. Abloye Co. issued $700,000 of 10-year, 9% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1. Paid the interest on the bonds. Dec. 31. Recorded accrued interest for two months. Journalize...
15 1) Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $1,200,000...
15 1) Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $1,200,000 of 10-year, 12% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions for the current year. Refer to the Chart of Accounts for exact wording of account titles. May 1 Issued the bonds for...
eBook 3 Show Me How Calculator Print Item Entries for Issuing Bonds Thomson Co. produces and...
eBook 3 Show Me How Calculator Print Item Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co.Issued $990,000 of 25-year, 10% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31...
is this correct? answer all this blank Bond Price United States Steel Corporation's 7.5% bonds due...
is this correct?
answer
all this blank
Bond Price United States Steel Corporation's 7.5% bonds due in 2022 were reported as selling for 104.5. Were the bonds selling at a premium or at a discount? Why is United States Steel able to sell its bonds at this price? The bonds were selling at a discount because the market rate of interest for similar quality bonds was lower than 7.5% Entries for Issuing Bonds bonds on May 1 of the current...
CHART OF ACCOUNTS Thomson Co. General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $450,000 of 10-year, 10% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Issued the bonds for cash at their face amount. May 1 Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $870,000 of 10-year, 11% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $870,000 of 10-year, 11% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize...
Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $180,000 of 25-year, 11% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the...
Entries for Issuing Bonds Abloye Co. produces and distributes semiconductors for use by computer manufacturers. Abloye Co. issued $700,000 of 10-year, 9% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount Nov. 1. Paid the interest on the bonds. Dec. 31. Recorded accrued interest for two months. Journalize...
eBook 3 Show Me How Calculator Print Item Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co.Issued $990,000 of 25-year, 10% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31...
is this correct?
answer
all this blank
Bond Price United States Steel Corporation's 7.5% bonds due in 2022 were reported as selling for 104.5. Were the bonds selling at a premium or at a discount? Why is United States Steel able to sell its bonds at this price? The bonds were selling at a discount because the market rate of interest for similar quality bonds was lower than 7.5% Entries for Issuing Bonds bonds on May 1 of the current...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
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