Discount Amortization
On the first day of the fiscal year, a company issues a $7,500,000, 12%, 9-year bond that pays semiannual interest of $450,000 ($7,500,000 × 12% × ½), receiving cash of $6,408,074.
Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Interest Expense | |||
Premium on Bonds Payable | |||
Cash |
Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Interest Expense | 389337 | ||
Premium on Bonds Payable (1091926/18) | 60663 | ||
Cash | 450000 |
Discount Amortization On the first day of the fiscal year, a company issues a $7,500,000, 12%,...
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...
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.
Discount Amortization On the first day of the fiscal year, a company issues a $3,000,000, 11%, 9-year bond that pays semiannual interest of $165,000 ($3,000,000 × 11% × ½), receiving cash of $2,547,343. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense 210265 (incorrect) Discount on Bonds Payable 45265 (incorrect) Cash 165000 (correct) I tried rounding One...
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pays semiannual interest of $156,000 ($2,600,000 x 12% x % ) , receiving cash of $2,221,467. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank Discount Amortization On the first day of the fiscal year, a company issues a...
Discount Amortization On the first day of the fiscal year, a company issues a $3,800,000, 12%, 7-year bond that pays semiannual interest of $228,000 ($3,800,000 x 12% * Va), receiving cash of $3,467,673. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Help me with Answer A and B Please :) A. B. Discount Amortization On the first day of the fiscal year, a company issues a $2,200,000, 6%, 10-year bond that pays semiannual interest of $66,000 ($2,200,000 x 6% x V2), receiving cash of $1,770,739. Journalize the first interest payment and the amortization of the related bond discount Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable...
Discount Amortization On the first day of the fiscal year, a company issues a $3,500,000, 7%, 7-year bond that pays semiannual interest of $122,500 ($3,500,000 × 7% × ½), receiving cash of $2,980,321. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash
Discount Amortization On the first day of the fiscal year, a company issues a $9,000,000, 6%, 5-year bond that pays semiannual interest of $270,000 ($9,000,000 x 6% x 12), receiving cash of $8,625,753. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense 307,425 Discount on Bonds Payable 37,425 Cash 270,000
Discount Amortization On the first day of the fiscal year, a company issues a $5,800,000, 8%, 4-year bond that pays semiannual interest of $232,000 ($5,800,000 x 8% x V), receiving cash of $5,425,133. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash
Premium Amortization On the first day of the fiscal year, a company issues a $8,900,000, 12%, 9-year bond that pays semiannual interest of $534,000 $8,900,000 x 12% x 1/2), receiving cash of $10,523,359. 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 443,813 Premium on Bonds Payable 90,187 Cash 534,000