Homework Answers
| Date | General Journal | Debit | Credit | ||
| a | December 31,2017 | Cash | 93267 | ||
| Discount on Bonds payable | 6733 | ||||
| Bonds payable | 100000 | ||||
| b | June 30,2018 | Interest expense | 3842 | ||
| Discount on Bonds payable | 842 | =6733-5891 | |||
| Cash | 3000 | =100000*6%*6/12 | |||
| c | December 31,2018 | Interest expense | 3842 | ||
| Discount on Bonds payable | 842 | =5891-5049 | |||
| Cash | 3000 | =100000*6%*6/12 |
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14-4 On 12/31/2017 Paulson issues 6% four year bonds with a par value of $100,000 and...
Paulson Company issues 10%, four-year bonds, on December 31, 2017, with a par value of $107,000...
Paulson Company issues 10%, four-year bonds, on December 31, 2017, with a par value of $107,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2017 $ 6,873 $ 100,127 (1) 6/30/2018 6,014 100,986 (2) 12/31/2018 5,155 101,845 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2017. (b) The first interest payment on June 30, 2018. (c) The second interest payment on December...
Paulson Company issues 7%, four-year bonds, on December 31, 2017, with a par value of $91,000...
Paulson Company issues 7%, four-year bonds, on December 31, 2017, with a par value of $91,000 and semiannual interest payments Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Discount 56,553 5,734 4,915 Carrying Value $84,447 85, 266 86.085 points Skipped Use the above straight-line bond amortization table and prepare journal entries for the following. eBock (a) The issuance of bonds on December 31, 2017 (b) The first interest payment on June 30, 2018. (c) The second interest payment on...
Paulson Company issues 8%, four-year bonds, on December 31, 2018, with a par value of $108,000...
Paulson Company issues 8%, four-year bonds, on December 31,
2018, with a par value of $108,000 and semiannual interest
payments.
Semiannual Period-End
Unamortized Discount
Carrying Value
(0)
12/31/2018
$
6,893
$
101,107
(1)
6/30/2019
6,031
101,969
(2)
12/31/2019
5,169
102,831
Use the above straight-line bond amortization table and prepare
journal entries for the following.
(a) The issuance of bonds on December 31, 2018.
(b) The first interest payment on June 30, 2019.
(c) The second interest payment on December...
Paulson Company issues 10%, four-year bonds, on December 31, 2017, with a par value of $102,000...
Paulson Company issues 10%, four-year bonds, on December 31,
2017, with a par value of $102,000 and semiannual interest
payments. Semiannual Period-End Unamortized Discount Carrying Value
(0) 12/31/2017 $ 6,773 $ 95,227 (1) 6/30/2018 5,926 96,074 (2)
12/31/2018 5,079 96,921 Use the above straight-line bond
amortization table and prepare journal entries for the following.
(a) The issuance of bonds on December 31, 2017. (b) The first
interest payment on June 30, 2018. (c) The second interest payment
on December 31,...
Paulson Company issues 6%, four-year bonds, on December 31, 2015, with a par value of $200,000...
Paulson Company issues 6%, four-year bonds, on December 31, 2015, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2015 $ 13,466 $ 186,534 (1) 6/30/2016 11,782 188,218 (2) 12/31/2016 10,098 189,902 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2015. (b) The first interest payment on June 30, 2016. (c) The second interest payment on December 31,...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Use the following bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance ............. (1) June 30, first payment........... (2) December 31, second payment...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest payments. Semiannual Period-EndUnamortized DiscountCarrying Value(0)January 1, issuance$6,533$83,467(1)June 30, first payment5,71684, 284 (2)December 31, second payment4,89985, 101Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31.
Paulson Company issues 10%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 10%, four-year bonds, on January 1 of this year, with a par value of $93,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance $ 6,593 $ 86,407 (1) June 30, first payment 5,769 87,231 (2) December 31, second payment 4,945 88,055 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30....
Paulson Company issues 10%, four-year bonds, on January 1 of this year, with a par value...
Paulson Company issues 10%, four-year bonds, on January 1 of this year, with a par value of $93,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance $ 6,593 $ 86,407 (1) June 30, the first payment 5,769 87,231 (2) December 31, second payment 4,945 88,055 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June...
Paulson Company issues 9%, four-year bonds, on December 31, 2018, with a par value of $99,000...
Paulson Company issues 9%, four-year bonds, on December 31, 2018, with a par value of $99,000 and semiannual interest payments. Semiannual Period-End (0) 12/31/2018 (1) 6/30/2019 (2) 12/31/2019 Unamortized Discount $6,713 5,874 5,035 Carrying Value $ 92,287 93,126 93,965 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2018 (b) The first interest payment on June 30, 2019. (c) The second interest payment on December 31, 2019....
Paulson Company issues 7%, four-year bonds, on December 31, 2017, with a par value of $91,000 and semiannual interest payments Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Discount 56,553 5,734 4,915 Carrying Value $84,447 85, 266 86.085 points Skipped Use the above straight-line bond amortization table and prepare journal entries for the following. eBock (a) The issuance of bonds on December 31, 2017 (b) The first interest payment on June 30, 2018. (c) The second interest payment on...
Paulson Company issues 8%, four-year bonds, on December 31,
2018, with a par value of $108,000 and semiannual interest
payments.
Semiannual Period-End
Unamortized Discount
Carrying Value
(0)
12/31/2018
$
6,893
$
101,107
(1)
6/30/2019
6,031
101,969
(2)
12/31/2019
5,169
102,831
Use the above straight-line bond amortization table and prepare
journal entries for the following.
(a) The issuance of bonds on December 31, 2018.
(b) The first interest payment on June 30, 2019.
(c) The second interest payment on December...
Paulson Company issues 10%, four-year bonds, on December 31,
2017, with a par value of $102,000 and semiannual interest
payments. Semiannual Period-End Unamortized Discount Carrying Value
(0) 12/31/2017 $ 6,773 $ 95,227 (1) 6/30/2018 5,926 96,074 (2)
12/31/2018 5,079 96,921 Use the above straight-line bond
amortization table and prepare journal entries for the following.
(a) The issuance of bonds on December 31, 2017. (b) The first
interest payment on June 30, 2018. (c) The second interest payment
on December 31,...
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Use the following bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance ............. (1) June 30, first payment........... (2) December 31, second payment...
Paulson Company issues 9%, four-year bonds, on December 31, 2018, with a par value of $99,000 and semiannual interest payments. Semiannual Period-End (0) 12/31/2018 (1) 6/30/2019 (2) 12/31/2019 Unamortized Discount $6,713 5,874 5,035 Carrying Value $ 92,287 93,126 93,965 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2018 (b) The first interest payment on June 30, 2019. (c) The second interest payment on December 31, 2019....
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