On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $10,900. They were 5-year bonds with...
On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond premium. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense?
Journalize all required transactions on Jan 2 214, June 30 2014 and Dec 31 2014. Show calculations.
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On January 2, 2014, Mahoney Sales issued $10,000 in bonds for
$10,900. They were 5-year bonds with...
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year...
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond discount. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense? A) $200 B) $260 C) $60 D) $400
on January 1, 2019, booth sales issued $10,000 in bonds for $10,900. these are 5-year bonds...
on January 1, 2019, booth sales issued $10,000 in bonds for $10,900. these are 5-year bonds with a stated rate of 4%, and pay semiannual interest. booth sales uses the straight-line method to amortize bond premium. A) prepare the journal entry for the issuance of the bonds on January 1, 2019 B) prepare the journal entry for the first interest payment on June 30, 2019.
please provide the journa entries with the credited and debited section. 5. On January 1, 2014,...
please provide the journa entries with the credited and
debited section.
5. On January 1, 2014, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at a premium, for a total of $20,750, Please provide the journal entry to issue the bonds. (3 points) 6. On January 2, 2014. Mahoney Sales issued $10,000 in bonds for S10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales...
On January 1, 2017, Citywide Sales issued $23,000 in bonds for $30,800. These are eight-year bonds...
On January 1, 2017, Citywide Sales issued $23,000 in bonds for $30,800. These are eight-year bonds with a stated rate of 13% and pay semiannual interest. Citywide Sales uses the straight-line method to amortize the bond premium. On June 30, 2017, when Citywide makes the first payment to bondholders, what is the amount that will be reported as Interest Expense? (Round your intermediate answers to the nearest dollar.)
On January 1, 2015, Carter Sales issued $15,000 in bonds for $15,800. They were 8-year bonds...
On January 1, 2015, Carter Sales issued $15,000 in bonds for
$15,800. They were 8-year bonds with a stated rate of 9%, and pay
semiannual interest. Carter Sales uses the straight-line method to
amortize the Bond Premium. Immediately after the issue of the
bonds, the ledger balances appeared as follows:
After the first interest payment on June 30, 2015, what will be the
balance in the Premium Account?
debit of $900
credit of $625
credit of $750
debit of $50
3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year...
3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds...
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds with a stated interest rate of 9% that pay semiannual interest. Westside Sales uses the straight – line method to amortize the bond premium. After the first interest payment on June 30, 2018, what is the bond carrying amount? (Round your intermediate answers to the nearest dollar.) O A. $19,113 O B. $20,800 O C. $20,687 OD. $19,000
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year...
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium. 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
please answer the following questions. (journal entries) 1. On July 1, 2013. Avery Services issued a...
please answer the following questions.
(journal entries)
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2. Paris Company buys...
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...
14. On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9.400. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond discount. On June 30, 2014, when Mahoney makes the first payment to bondholders, how much will they report as interest expense? A) $200 B) $260 C) $60 D) $400
please provide the journa entries with the credited and
debited section.
5. On January 1, 2014, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at a premium, for a total of $20,750, Please provide the journal entry to issue the bonds. (3 points) 6. On January 2, 2014. Mahoney Sales issued $10,000 in bonds for S10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales...
On January 1, 2015, Carter Sales issued $15,000 in bonds for
$15,800. They were 8-year bonds with a stated rate of 9%, and pay
semiannual interest. Carter Sales uses the straight-line method to
amortize the Bond Premium. Immediately after the issue of the
bonds, the ledger balances appeared as follows:
After the first interest payment on June 30, 2015, what will be the
balance in the Premium Account?
debit of $900
credit of $625
credit of $750
debit of $50
3) On January 1, 2019, Booth Sales issues $10,000 in bonds for $10.900. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
On January 1, 2018, Westside Sales issued $19,000 in bonds for $20,800. These are eight-year bonds with a stated interest rate of 9% that pay semiannual interest. Westside Sales uses the straight – line method to amortize the bond premium. After the first interest payment on June 30, 2018, what is the bond carrying amount? (Round your intermediate answers to the nearest dollar.) O A. $19,113 O B. $20,800 O C. $20,687 OD. $19,000
3) On January 1, 2019, Booth Sales issues $30,000 in bonds for $32,000. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Booth Sales uses the straight-line method to amortize bond premium. 10 points A) Prepare the journal entry for the issuance of the bonds on January 1, 2019 B) Prepare the journal entry for the first interest payment on June 30, 2019.
please answer the following questions.
(journal entries)
1. On July 1, 2013. Avery Services issued a 4% long-term note payable for S10,000. It is payable over a 5-year term in $2,000 principal installments on July 1 of each year. Each yearly installment will include both principal repayment of $2,000 and interest payment for the preceding one-year period. Please provide the journal entry needed on July 1, 2014 when the first installment payment is made. (4 points) 2. Paris Company buys...
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...
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