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please do calculate bond amortization cost as well, as its not
fully showing in last pic....
just need to correct my answers in the red box. Thanks! Carla Vista Inc. issues $752,000...
just need to correct my answers in the red box. Thanks!
Carla Vista Inc. issues $752,000 of 5-year, 10% bonds on January 1, 2021. The bonds pay interest annually. Prepare the journal entries to record the first three interest payments. Ignore any year-end accruals of interest. (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 for the amounts.) Debit Credit...
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...
help on second pic please. Question UI 8 2.5/10 Ivanhoe Inc. issues $752,000 of 5-year, 6%...
help on second pic please.
Question UI 8 2.5/10 Ivanhoe Inc. issues $752,000 of 5-year, 6% bonds on January 1, 2021. The bonds pay interest annually. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) Your answer is correct. Calculate the issue price of the bonds using a market rate of 5%. (For calculation purposes, use 5 decimal places as displayed in the...
Carla Vista Electric sold $3,250,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated...
Carla Vista Electric sold $3,250,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Carla Vista Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 10-07A The following information is taken from Wildhorse Corp's...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 10-07A The following information is taken from Wildhorse Corp's balance sheet at December 31, 2021. $ 94,800 Current liabilities Interest payable Long-term liabilities Bonds payable (4%, due January 1, 2032) Less: Discount on bonds payable $2,370,000 23,700 2,346,300 Interest is payable annually on January 1. The bonds are callable on any annual Interest date. Wildhorse uses straight line amortization for any bond premium or discount From December 31, 2021. the bonds will be...
please help me solve this question Blossom Cars Co. issued $2.16 million of 5%, 5-year bonds...
please help me solve this question
Blossom Cars Co. issued $2.16 million of 5%, 5-year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. The bonds are secured with real estate holdings. The market interest rate was 4% for these bonds. Blossom has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the...
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...
Prepare the journal entries to record the following: (a) The issuance of the bonds. (b) The...
Prepare the journal entries to record the following:
(a)
The issuance of the bonds.
(b)
The accrual of interest and the premium amortization on
December 31, 2020.
(c)
The payment of interest on January 1, 2021.
(d)
The redemption of the bonds at maturity, assuming interest for
the last interest period has been paid and recorded.
Exercise 15-15 a-d (Part Level Submission) Carla Vista Company issued $590,000, 6%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually...
During 2021, Carla Vista Co, borrowed cash from Wildhorse Co. by issuing notes payable as follows....
During 2021, Carla Vista Co, borrowed cash from Wildhorse Co. by issuing notes payable as follows. 1. July 1, 2021, issued an eight-month.5% note for $71.400. Interest and principal are payable at maturity. 2. November 1, 2021, issued a three-month, 5% note for $52.800 Interest is payable monthly on the first day of the month Principal is payable at maturity Carla Vista has a December 31 fiscal year end and prepares adjusting entries on an annual basis. Prepare all necessary...
Your answer is partially correct. Try again. The following information is taken from Ivanhoe Corp.'s balance...
Your answer is partially correct. Try again. The following information is taken from Ivanhoe Corp.'s balance sheet at December 31, 2021. $ 92,000 Current liabilities Interest payable Long-term liabilities Bonds payable (4%, due January 1, 2032) Less: Discount on bonds payable $2,300,000 23,000 2,277,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Ivanhoe uses straight-line amortization for any bond premium or discount. From December 31, 2021, the bonds will be outstanding for...
just need to correct my answers in the red box. Thanks!
Carla Vista Inc. issues $752,000 of 5-year, 10% bonds on January 1, 2021. The bonds pay interest annually. Prepare the journal entries to record the first three interest payments. Ignore any year-end accruals of interest. (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 for the amounts.) Debit Credit...
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...
help on second pic please.
Question UI 8 2.5/10 Ivanhoe Inc. issues $752,000 of 5-year, 6% bonds on January 1, 2021. The bonds pay interest annually. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) Your answer is correct. Calculate the issue price of the bonds using a market rate of 5%. (For calculation purposes, use 5 decimal places as displayed in the...
Carla Vista Electric sold $3,250,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Carla Vista Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 10-07A The following information is taken from Wildhorse Corp's balance sheet at December 31, 2021. $ 94,800 Current liabilities Interest payable Long-term liabilities Bonds payable (4%, due January 1, 2032) Less: Discount on bonds payable $2,370,000 23,700 2,346,300 Interest is payable annually on January 1. The bonds are callable on any annual Interest date. Wildhorse uses straight line amortization for any bond premium or discount From December 31, 2021. the bonds will be...
please help me solve this question
Blossom Cars Co. issued $2.16 million of 5%, 5-year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. The bonds are secured with real estate holdings. The market interest rate was 4% for these bonds. Blossom has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the...
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...
Prepare the journal entries to record the following:
(a)
The issuance of the bonds.
(b)
The accrual of interest and the premium amortization on
December 31, 2020.
(c)
The payment of interest on January 1, 2021.
(d)
The redemption of the bonds at maturity, assuming interest for
the last interest period has been paid and recorded.
Exercise 15-15 a-d (Part Level Submission) Carla Vista Company issued $590,000, 6%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually...
During 2021, Carla Vista Co, borrowed cash from Wildhorse Co. by issuing notes payable as follows. 1. July 1, 2021, issued an eight-month.5% note for $71.400. Interest and principal are payable at maturity. 2. November 1, 2021, issued a three-month, 5% note for $52.800 Interest is payable monthly on the first day of the month Principal is payable at maturity Carla Vista has a December 31 fiscal year end and prepares adjusting entries on an annual basis. Prepare all necessary...
Your answer is partially correct. Try again. The following information is taken from Ivanhoe Corp.'s balance sheet at December 31, 2021. $ 92,000 Current liabilities Interest payable Long-term liabilities Bonds payable (4%, due January 1, 2032) Less: Discount on bonds payable $2,300,000 23,000 2,277,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Ivanhoe uses straight-line amortization for any bond premium or discount. From December 31, 2021, the bonds will be outstanding for...
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