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Carla Vista Inc. issues $752,000...
Blossom Lake Corp. issues a $660,000, 4-year, 3% note payable on March 31, 2021. The terms...
Blossom Lake Corp. issues a $660,000, 4-year, 3% note payable on March 31, 2021. The terms provide for fixed principal payments annually of $165,000. Prepare the journal entries to record the note on March 31, 2021, and the first payment on March 31, 2022. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Concord Corporation issued 2,700 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid...
in part A just need the correct answers in red boxes were I made mistakes. Thanks!...
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
Type or paste question here On January 1, 2020, Carla Vista Company issued $395,500, 9%, 5-year...
Type or paste question here
On January 1, 2020, Carla Vista Company issued $395,500, 9%,
5-year bonds at face value. Interest is payable annually on January
1.
Prepare the journal entry to record the issuance of the bonds.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2020
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entry to record the accrual of interest on...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022,...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1,2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 4-year useful life. Prepare the journal entry to record the purchase of the equipment on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for...
On May 1, 2020, Carla Vista Corp. issued $630,000, 10 %6, 5-year bonds at face value....
On May 1, 2020, Carla Vista Corp. issued $630,000, 10 %6, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented whe amount is entered. Do not indent manually.) Account Titles and Explanation Date Debit Credit May 1, 2020 SHOW LIST OF ACCOUNTS LNK то TEXT...
Blossom Lake Corp. issues a $660,000, 4-year, 3% note payable on March 31, 2021. The terms provide for fixed principal payments annually of $165,000. Prepare the journal entries to record the note on March 31, 2021, and the first payment on March 31, 2022. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Concord Corporation issued 2,700 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid...
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
Type or paste question here
On January 1, 2020, Carla Vista Company issued $395,500, 9%,
5-year bonds at face value. Interest is payable annually on January
1.
Prepare the journal entry to record the issuance of the bonds.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2020
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entry to record the accrual of interest on...
Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022,...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1,2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 4-year useful life. Prepare the journal entry to record the purchase of the equipment on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for...
On May 1, 2020, Carla Vista Corp. issued $630,000, 10 %6, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented whe amount is entered. Do not indent manually.) Account Titles and Explanation Date Debit Credit May 1, 2020 SHOW LIST OF ACCOUNTS LNK то TEXT...
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