Homework Answers
| Jan 1 | Cash | 1560000 | =1300*1200 | |
| Bonds payable | 1560000 | |||
| July 1 | Cash | 782800 | =760000*1.03 | |
| Premium on Bonds payable | 22800 | |||
| Bonds payable | 760000 | |||
| Sept. 1 | Cash | 264600 | =270000*0.98 | |
| Discount on Bonds payable | 5400 | |||
| Bonds payable | 270000 |
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en Assignment PRINTER VERSION BACK NEXT OURCES Brief Exercise 15-5 Frankum Company has issued three different bonds...
CALCULATOR FULL SCREEN PRINTER VERSION E NEE Question 4 Sheridan Company has issued three different bonds...
CALCULATOR FULL SCREEN PRINTER VERSION E NEE Question 4 Sheridan Company has issued three different bonds during 2020. Interest is payable annually on each of these bonds 1. On January 1, 2020, 1,200,7%, 5-year, $1,000 bhds dated January 1, 2020, were issued at face value 2. On July 1, $885,000, 89, 5-year bonds dated July 1, 2020, were issued at 102. 3. On September 1, $375,000, 6%, 5-year bonds dated September 1, 2020, were issued at 97. Prepare the journal...
Login Pa CALCULATON FULL SCREEN PRINTER Brief Exercise 10-12 Cullumber Company has issued three different bonds...
Login Pa CALCULATON FULL SCREEN PRINTER Brief Exercise 10-12 Cullumber Company has issued three different bonds during 2019. Interest is payable annually on each of these bonds. 1. On January 1, 2019, 1,000, 6%, 5-year, $1,000 bonds dated January 1, 2019, were issued at face value. 2. On July 1, $700,000, 7%, 5-year bonds dated July 1, 2019, were issued at 101. 3. On September 1, $200,000, 5%, 5-year bonds dated September 1, 2019, were issued at 97. Prepare the...
Brief Exercise 10-10 Frankum Company has issued three different bonds during 2015. Interest is payable semiannually...
Brief Exercise 10-10
Frankum Company has issued three different bonds during 2015.
Interest is payable semiannually on each of these bonds.
1.
On January 1, 2015, 1,390, 9%,
5-year, $1,200 bonds dated January 1, 2015, were issued at face
value.
2.
On July 1, $739,200, 10%, 5-year
bonds dated July 1, 2015, were issued at 102.
3.
On September 1, $320,400, 8%,
5-year bonds dated September 1, 2015, were issued at 99.
Prepare the journal entries to record each bond...
OURCES CALCULATOR PULLSCREEN PRINTER V ON BACK The Blue Company issued $330.000 of 7 bonds on...
OURCES CALCULATOR PULLSCREEN PRINTER V ON BACK The Blue Company issued $330.000 of 7 bonds on January 1, 2017. The bonds are anuary 1 2022 w interest payable each and January 1. The bonds were sted at 101 Prepare the journal entries for (a) January 1 (1) July 1, and ) December 31. Assume The Company records straight ne amortization manually. If no antry is required select "No Entry" for the account titles and enter for the amounts Credit account...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-10 Wildhorse Co. issued 4,000, 8%, 5-year, $1,000 bonds dated January 1, 2019, at 100. Interest is paid each January 1. 10-6 Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. De not inden manually.) Date Account this and tuplanation Debit Credit 10-14 its by SHOW...
Brief Exercise 14-5 Teal Corporation issued $504,000 of 5% bonds on May 1, 2017. The bonds...
Brief Exercise 14-5 Teal Corporation issued $504,000 of 5% bonds on May 1, 2017. The bonds were dated January 1, 2017, and mature January 1, 2020, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Teal's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 14-5 Ayayal Company issued $552,000 of 10%, 20-year...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 14-5 Ayayal Company issued $552,000 of 10%, 20-year bonds on January 1, 2017, at 102, Interest is payable semiannually on Assume an effective yield of 9.7705%. July 1 and January 1. Ayayai Company uses the effective-interest method of amortization for bond premium or discount. Prepare the journal entries to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548. If no...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. 2. On June 1, 2020, Waterway Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the...
ULLULATUR PRINTER VERSION BACK Exercise 10-21 Blossom Company issued $450,000, 7%, 15-year bonds on December 31,...
ULLULATUR PRINTER VERSION BACK Exercise 10-21 Blossom Company issued $450,000, 7%, 15-year bonds on December 31, 2016, for $432,000. Interest is payable annually on December 31, Blossom uses straight-line method to amortize bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) (b) (c) The issuance of the bonds. The payment of interest and the discount amortization on December 31, 2017 The...
Brief Exercise 10-17 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value...
Brief Exercise 10-17 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $640,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually. Your answer is partially correct. Try again. Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%....
CALCULATOR FULL SCREEN PRINTER VERSION E NEE Question 4 Sheridan Company has issued three different bonds during 2020. Interest is payable annually on each of these bonds 1. On January 1, 2020, 1,200,7%, 5-year, $1,000 bhds dated January 1, 2020, were issued at face value 2. On July 1, $885,000, 89, 5-year bonds dated July 1, 2020, were issued at 102. 3. On September 1, $375,000, 6%, 5-year bonds dated September 1, 2020, were issued at 97. Prepare the journal...
Login Pa CALCULATON FULL SCREEN PRINTER Brief Exercise 10-12 Cullumber Company has issued three different bonds during 2019. Interest is payable annually on each of these bonds. 1. On January 1, 2019, 1,000, 6%, 5-year, $1,000 bonds dated January 1, 2019, were issued at face value. 2. On July 1, $700,000, 7%, 5-year bonds dated July 1, 2019, were issued at 101. 3. On September 1, $200,000, 5%, 5-year bonds dated September 1, 2019, were issued at 97. Prepare the...
Brief Exercise 10-10
Frankum Company has issued three different bonds during 2015.
Interest is payable semiannually on each of these bonds.
1.
On January 1, 2015, 1,390, 9%,
5-year, $1,200 bonds dated January 1, 2015, were issued at face
value.
2.
On July 1, $739,200, 10%, 5-year
bonds dated July 1, 2015, were issued at 102.
3.
On September 1, $320,400, 8%,
5-year bonds dated September 1, 2015, were issued at 99.
Prepare the journal entries to record each bond...
OURCES CALCULATOR PULLSCREEN PRINTER V ON BACK The Blue Company issued $330.000 of 7 bonds on January 1, 2017. The bonds are anuary 1 2022 w interest payable each and January 1. The bonds were sted at 101 Prepare the journal entries for (a) January 1 (1) July 1, and ) December 31. Assume The Company records straight ne amortization manually. If no antry is required select "No Entry" for the account titles and enter for the amounts Credit account...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-10 Wildhorse Co. issued 4,000, 8%, 5-year, $1,000 bonds dated January 1, 2019, at 100. Interest is paid each January 1. 10-6 Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. De not inden manually.) Date Account this and tuplanation Debit Credit 10-14 its by SHOW...
Brief Exercise 14-5 Teal Corporation issued $504,000 of 5% bonds on May 1, 2017. The bonds were dated January 1, 2017, and mature January 1, 2020, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Teal's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 14-5 Ayayal Company issued $552,000 of 10%, 20-year bonds on January 1, 2017, at 102, Interest is payable semiannually on Assume an effective yield of 9.7705%. July 1 and January 1. Ayayai Company uses the effective-interest method of amortization for bond premium or discount. Prepare the journal entries to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548. If no...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NE 1. On January 1, 2020, Oriole Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. 2. On June 1, 2020, Waterway Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the...
ULLULATUR PRINTER VERSION BACK Exercise 10-21 Blossom Company issued $450,000, 7%, 15-year bonds on December 31, 2016, for $432,000. Interest is payable annually on December 31, Blossom uses straight-line method to amortize bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) (b) (c) The issuance of the bonds. The payment of interest and the discount amortization on December 31, 2017 The...
Brief Exercise 10-17 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $640,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually. Your answer is partially correct. Try again. Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%....
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