Homework Answers
| Accounts | Debit | Credit |
| Interest expense | 55549 | |
| Premium on Bonds payable (2315412-2100000) /12 | 17951 | |
| Cash | 73500 |
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Premium Amortization On the first day of the fiscal year, a company issues a $2,100,000, 7%, 6-year bond that pays semi...
1) Premium Amortization On the first day of the fiscal year, a company issues a $7,800,000,...
1) Premium Amortization On the first day of the fiscal year, a company issues a $7,800,000, 11%, 5-year bond that pays semiannual interest of $429,000 ($7,800,000 × 11% × ½), receiving cash of $8,417,190. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable 2) Discount Amortization On the first day of the...
A Premium Amortization On the first day of the fiscal year, a company issues a $8,000,000,...
A
Premium Amortization On the first day of the fiscal year, a company issues a $8,000,000, 11%, 7-year bond that pays semiannual interest of $440,000 ($8,000,000 x 11% x 2), receiving cash of $8,395,947. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash
Premium Amortization On the first day of the fiscal year, a company issues a $3,700,000, 7%,...
Premium Amortization On the first day of the fiscal year, a company issues a $3,700,000, 7%, 4-year bond that pays semiannual interest of $129,500 ($3,700,000 x 7% x 12), receiving cash of $4,106,564. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,78...
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,781. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
Premium Amortization on the...
Premium Amortization On the first day of the fiscal year, a company issues a $6,400,000, 6%,...
Premium Amortization On the first day of the fiscal year, a company issues a $6,400,000, 6%, 6-year bond that pays semiannual interest of $192,000 ($6,400,000 × 6% × ½), receiving cash of $7,076,822. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable Feedback
Premium Amortization On the first day of the fiscal year, a company issues a $4,400,000, 6%,...
Premium Amortization On the first day of the fiscal year, a company issues a $4,400,000, 6%, 4-year bond that pays semiannual interest of $132,000 (54,400,000 x 6%*), receiving cash of $4,894,071 Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization On the first day of the fiscal year, a company issues a $2,900,000, 6%,...
Premium Amortization On the first day of the fiscal year, a company issues a $2,900,000, 6%, 10-year bond that pays semiannual interest of $87,000 ($2,900,000 x 6% x 2), receiving cash of $3,374,194 Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,800,000, 8%, 6-year bond that pays semiannual interest of $112,000 ($2,800,000 x 8% x V), receiving cash of $3,230,825. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Premium Amortization On the first day of the fiscal year, a company issues a $3,000,000, 12%, 4-year bond that pays semiannual interest of $180,000 ($3,000,000 x 12% V),...
Premium Amortization On the first day of the fiscal year, a company issues a $5,700,000, 9%,...
Premium Amortization On the first day of the fiscal year, a company issues a $5,700,000, 9%, 9-year bond that pays semiannual interest of $256,500 ($5,700,000 x 9% x V2), receiving cash of $6,875,926. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash 256,500
Premium Amortization On the first day of the fiscal year, a company issues a $7,500,000, 7%, 4-ye...
Premium Amortization On the first day of the fiscal year, a company issues a $7,500,000, 7%, 4-year bond that pays semiannual interest of $262,500 ($7,500,000 × 7% × ½), receiving cash of $7,763,239. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
A
Premium Amortization On the first day of the fiscal year, a company issues a $8,000,000, 11%, 7-year bond that pays semiannual interest of $440,000 ($8,000,000 x 11% x 2), receiving cash of $8,395,947. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash
Premium Amortization On the first day of the fiscal year, a company issues a $3,700,000, 7%, 4-year bond that pays semiannual interest of $129,500 ($3,700,000 x 7% x 12), receiving cash of $4,106,564. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,781. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
Premium Amortization on the...
Premium Amortization On the first day of the fiscal year, a company issues a $4,400,000, 6%, 4-year bond that pays semiannual interest of $132,000 (54,400,000 x 6%*), receiving cash of $4,894,071 Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization On the first day of the fiscal year, a company issues a $2,900,000, 6%, 10-year bond that pays semiannual interest of $87,000 ($2,900,000 x 6% x 2), receiving cash of $3,374,194 Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,800,000, 8%, 6-year bond that pays semiannual interest of $112,000 ($2,800,000 x 8% x V), receiving cash of $3,230,825. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Premium Amortization On the first day of the fiscal year, a company issues a $3,000,000, 12%, 4-year bond that pays semiannual interest of $180,000 ($3,000,000 x 12% V),...
Premium Amortization On the first day of the fiscal year, a company issues a $5,700,000, 9%, 9-year bond that pays semiannual interest of $256,500 ($5,700,000 x 9% x V2), receiving cash of $6,875,926. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash 256,500
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