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on January 1, 2017, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The...
On January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,231, and pay interest each July 1 and January 1. JWS uses the effective-interest method.Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%.(Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g....
On January 1, 2017, Headland Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were issued for $537,196, and pay interest each July 1 and January 1. The effective-interest rate is 6%. Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Headland uses the effective-interest method. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places,...
On January 1, 2017, Skysong Corporation issued $650,000 of 9% bonds, due in 10 years. The bonds were issued for $694,171, and pay interest each July 1 and January 1 The effective interest rate is 8%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment and (c) the December 31 adjusting entry. Skysong uses the effective-interest method. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answer to 0 decimal...
The Nash Company issued $370,000 of 7% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 101. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Nash Company records straight-line amortization semiannually. (If no entry is required, select '"No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically...
On January 1, 2017, Coronado Corporation issued $650,000 of 9% bonds, due in 10 years. The bonds were issued for $609,499, and pay interest each July 1 and January 1. Coronado uses the effective-interest method. Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 10%. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal...
On January 1, 2017, Kingbird Corporation issued $680,000 of 9% bonds, due in 8 years. The bonds were issued for $643,151, and pay interest each July 1 and January 1. Kingbird uses the effective-interest method Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective interest rate of 10%. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
The Bridgeport Company issued $340,000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 97. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Bridgeport Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically...
Brief Exercise 14-7 On January 1, 2017, Oriole Corporation issued $660,000 of 9% bonds, due in 8 years. The bonds were issued for $698,454, and pay interest each July 1 and January 1. The effective-interest rate is 8%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Oriole uses the effective interest method. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer...
Brief Exercise 14-6 On January 1, 2017, Sunland Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were issued for $447,385, and pay interest each July 1 and January 1. Sunland uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer...
Brief Exercise 14-6 On January 1, 2017, Ivanhoe Corporation issued $610,000 of 9% bonds, due in 10 years. The bonds were issued for $571,991, and pay interest each July 1 and January 1. Ivanhoe uses the effective-interest method. Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 10%. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer...