Homework Answers
Carrying amount at December 31, 2018
| Long term liabilities | ||
| Bonds payable | 900000 | |
| Less: Discount on bonds payable | -119700 | 780300 |
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just need req 2
A company issued 8%, 10-year bonds that mature on June 30, 2028....
Wyoming Air Company has 10 year bonds payable that mature on June 30, 2028 The bonds...
Wyoming Air Company has 10 year bonds payable that mature on June 30, 2028 The bonds are issued on June 30, 2018 and Wyoming Air pays Interest each June 30 and December 31 Read the times Requirement 1. W e bonds be d attace value at a premium or a discount the market interest rate on the date of issuance is the mainterest rate is 8%? the market interest rate is If the market interest rates the bonds will be...
Virginia Vista Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds...
Virginia Vista Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued on June 30, 2018, and Virginia Vista pays interest each June 30 and December 31 Read the requirements Requirement 1. Wil the bonds be issued at face value, at a premium, or at a discount if the market interest rate on the date of issuance is 10%? If the market interest rate is 13%? If the market interest rate is 10%, the...
Miss Water Company has 8% 1 year bonds payable that are on June 30, 2028 The...
Miss Water Company has 8% 1 year bonds payable that are on June 30, 2028 The brands are Read the rem onts done 2018 and Miss Water pus interesah mend December 31 Requirement 1. W the bonds beatae v ata premamaladh a r a on the theater the market is the bed whebu Requirement 2. Misi Waterhud 5400 000 of the bonds a. Record ance of the bends on June 30, 2018 Record debits for Rounda tion to the rest...
The Gorman Group issued $870,000 of 11% bonds on June 30, 2018, for $944,646. The bonds...
The Gorman Group issued $870,000 of 11% bonds on June 30, 2018, for $944,646. The bonds were dated on June 30 and mature on. June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 10%. Interest is paid semiannually on December 31 and June 30. Required Complete the below table to recotd the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman Group on June 30,...
The Gorman Group issued $890,000 of 9% bonds on June 30, 2018, for $978,079. The bonds...
The Gorman Group issued $890,000 of 9% bonds on June 30, 2018, for $978,079. The bonds were dated on June 30 and mature June 30, 2038 (20 years). The market yiel and June 30 ld for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 Required: Complete the below table to recotd the company's journal entry 1. to 3. Prepare the journal entry to record their issuance by The Gorman Group on June 30,...
Awarna Marsh Company has 10%. 1 year bonds payable at m e on une 30, 2008....
Awarna Marsh Company has 10%. 1 year bonds payable at m e on une 30, 2008. The bonde donne 30, 2018 and A na Marsh a laches and December 31 Requiremen1. Will the bonds b ed faceva la premium, Mascount them to the face the materiale 117 the materestre 11 e bonds will b e Requirement . Alam Marched $200.000 of the bonds 00 Round l otions to the r ole Recordance of the bondson June 10, 2018 Recordis fest,...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
help please The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459....
help please
The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459. The bonds were dated on June 30 and mature on June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. points Skipped Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman...
On June 30, 2017, Bramble Company issued $5,300,000 face value of 13%, 20-year bonds at $5,698,716,...
On June 30, 2017, Bramble Company issued $5,300,000 face value of 13%, 20-year bonds at $5,698,716, a yield of 12%. Bramble uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31 Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles...
On January 1, 2018, Engineers Credit Union (ECU) issued 8%, 20-year bonds payable with face value...
On January 1, 2018, Engineers Credit Union (ECU) issued 8%, 20-year bonds payable with face value of $900,000. The bonds pay interest on June 30 and December 31 Read the requirements Requirement 1 . If the market interest rate is 7% when ECU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain The 8% bonds issued when the market interest rate is 7% will be priced at la premium ....
Wyoming Air Company has 10 year bonds payable that mature on June 30, 2028 The bonds are issued on June 30, 2018 and Wyoming Air pays Interest each June 30 and December 31 Read the times Requirement 1. W e bonds be d attace value at a premium or a discount the market interest rate on the date of issuance is the mainterest rate is 8%? the market interest rate is If the market interest rates the bonds will be...
Virginia Vista Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued on June 30, 2018, and Virginia Vista pays interest each June 30 and December 31 Read the requirements Requirement 1. Wil the bonds be issued at face value, at a premium, or at a discount if the market interest rate on the date of issuance is 10%? If the market interest rate is 13%? If the market interest rate is 10%, the...
Miss Water Company has 8% 1 year bonds payable that are on June 30, 2028 The brands are Read the rem onts done 2018 and Miss Water pus interesah mend December 31 Requirement 1. W the bonds beatae v ata premamaladh a r a on the theater the market is the bed whebu Requirement 2. Misi Waterhud 5400 000 of the bonds a. Record ance of the bends on June 30, 2018 Record debits for Rounda tion to the rest...
The Gorman Group issued $870,000 of 11% bonds on June 30, 2018, for $944,646. The bonds were dated on June 30 and mature on. June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 10%. Interest is paid semiannually on December 31 and June 30. Required Complete the below table to recotd the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman Group on June 30,...
The Gorman Group issued $890,000 of 9% bonds on June 30, 2018, for $978,079. The bonds were dated on June 30 and mature June 30, 2038 (20 years). The market yiel and June 30 ld for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 Required: Complete the below table to recotd the company's journal entry 1. to 3. Prepare the journal entry to record their issuance by The Gorman Group on June 30,...
Awarna Marsh Company has 10%. 1 year bonds payable at m e on une 30, 2008. The bonde donne 30, 2018 and A na Marsh a laches and December 31 Requiremen1. Will the bonds b ed faceva la premium, Mascount them to the face the materiale 117 the materestre 11 e bonds will b e Requirement . Alam Marched $200.000 of the bonds 00 Round l otions to the r ole Recordance of the bondson June 10, 2018 Recordis fest,...
The Gorman Group issued $940,000 of 13% bonds on June 30, 2021, for $1,010,716. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30,...
help please
The Gorman Group issued $910,000 of 13% bonds on June 30, 2018, for $978.459. The bonds were dated on June 30 and mature on June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid semiannually on December 31 and June 30. points Skipped Required: Complete the below table to record the company's journal entry. 1. to 3. Prepare the journal entry to record their issuance by The Gorman...
On June 30, 2017, Bramble Company issued $5,300,000 face value of 13%, 20-year bonds at $5,698,716, a yield of 12%. Bramble uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31 Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles...
On January 1, 2018, Engineers Credit Union (ECU) issued 8%, 20-year bonds payable with face value of $900,000. The bonds pay interest on June 30 and December 31 Read the requirements Requirement 1 . If the market interest rate is 7% when ECU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain The 8% bonds issued when the market interest rate is 7% will be priced at la premium ....
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