Homework Answers
| Date | Account titles and explanation | Debit | Credit |
| Jan.1 | Cash ( 470000 * 96 / 100 ) | 451200 | |
| Discount of bonds payable | 18800 | ||
| Bonds payable | 470000 | ||
| [ To record the issue of 8%, 15-year bond at discount |
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 10-15 a-b (Part Level Submission) Sunland Company issued...
FULL SCREEN PRINTER VERSION CALCULATOR BACK DURCES Question 2 Sheridan Company issued 2,200, 6 % ,...
FULL SCREEN PRINTER VERSION CALCULATOR BACK DURCES Question 2 Sheridan Company issued 2,200, 6 % , 5-year , $1,000 bonds dated January 1, 2019, at 100. Interest is pald each January 1 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 not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 I Study Prepare the adjusting journal entry on December 31, 2019,...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on January 1, 2020 Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indente when the amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium...
ment CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 12 Cullumber Inc. issues $300,000, 10-year, 9% bonds...
ment CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 12 Cullumber Inc. issues $300,000, 10-year, 9% bonds at 96. Prepare the journal entry to record the sale of these bonds on March 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 1 Click if you would like to Show Work for this questioni Open Show Work By accessing this Question Assistance, you will learn while you...
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CALCULATOR PRINTER VERSION Exercise 15-05 a-c Sheridan Company issued $2,020,000 of bonds on January 1, 2020....
CALCULATOR PRINTER VERSION Exercise 15-05 a-c Sheridan Company issued $2,020,000 of bonds on January 1, 2020. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 99, and (3) 104. (Credit account titles are automatically indented when amot not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity,...
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
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CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-25 (Part Level Submission) On December 31, 2020, Concord Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12, issued at par, $2,100,000 note receivable by the following modifications: 1. Reducing the principal obligation from $2,100,000 to $1,370,000 2. Extending the maturity date from December 31, 2020, to January 1, 2024 3. Reducing the interest rate...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-11 Oriole Company traded a used truck...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-11 Oriole Company traded a used truck for a new truck. The used truck cost $45,600 and has accumulated depreciation of $41,040. The new truck is worth $56,240. Oriole also made a cash payment of $54,720 Prepare Oriole's entry to record the exchange. The exchange lacks commercial substance) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for...
FULL SCREEN PRINTER VERSION CALCULATOR BACK DURCES Question 2 Sheridan Company issued 2,200, 6 % , 5-year , $1,000 bonds dated January 1, 2019, at 100. Interest is pald each January 1 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 not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 I Study Prepare the adjusting journal entry on December 31, 2019,...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on January 1, 2020 Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indente when the amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium...
ment CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 12 Cullumber Inc. issues $300,000, 10-year, 9% bonds at 96. Prepare the journal entry to record the sale of these bonds on March 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 1 Click if you would like to Show Work for this questioni Open Show Work By accessing this Question Assistance, you will learn while you...
CALCULATOR HESSAGEMYINSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 13-2 Coronado Company borrowed $43,200 on November 1, 2017, by signing a $43,200, 9%, 3-month note. Prepare Coronado's November 1, 2017, entry: the December 31, 2017, annual adjusting entry; and the February 1, 2018, entry. (f no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually,) Date Account Titles...
CALCULATOR PRINTER VERSION Exercise 15-05 a-c Sheridan Company issued $2,020,000 of bonds on January 1, 2020. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 99, and (3) 104. (Credit account titles are automatically indented when amot not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity,...
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
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