Journal Entries | |||
Date | Account Title and explanation | Debit | Credit |
Dec 31, 2016 | Cash Account | $ 1,02,700 | |
Discount on Bonds Payable | $ 7,300 | ||
Bonds Payable | $ 1,10,000 | ||
(Issue the bonds at Discount | |||
June 30, 2017 | Interest Expenses | $ 7,330 | |
Cash | $ 6,600 | ||
Discount on issuance of bonds | $ 730 | ||
June 30, 2017 | Interest Expenses | $ 7,330 | |
Cash | $ 6,600 | ||
Discount on issuance of bonds | $ 730 | ||
Sylvestor Company issues 12%, five-year bonds, on December 31, 2016, with a par value of $110,000...
Snap Company issues 12%, five year bonds, on January 1 of this year, with a par value of $110,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Unamortized Discount Carrying Value $7,300 $102,700 6,570 103,430 5,840 104,160 Use the above bond amortization table and prepare journal entries to record (c) the issuance of bonds on January 1, (b) the first interest payment on June 30, and the second...
Woodwick Company issues 8%, five-year bonds, on December 31, 2016, with a par value of $108,000 and semiannual interest payments. Semiannual Period-End (0) 12/31/2016 (1) 6/30/2017 (2) 12/31/2017 Unamortized Premium $8,271 7,444 6,617 Carrying Value $116, 271 115,444 114,617 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2016. (b) The first interest payment on June 30, 2017 (c) The second interest payment on December 31, 2017...
Woodwick Company issues 6%, five-year bonds, on December 31, 2016, with a par value of $102,000 and semiannual interest payments. Semiannual Period-End (@) 12/31/2016 (1) 6/30/2017 (2) 12/31/2017 Unamortized Premium 58, 151 7,336 6,521 Carrying Value $110, 151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following (a) The issuance of bonds on December 31, 2016 (b) The first interest payment on June 30, 2017 (c) The second interest payment on December 31,...
Woodwick Company issues 10%, five-year bonds, on December 31, 2016, with a par value of $110,000 and semiannual intere payments points Semiannual Period-End (0) 12/31/2016 (1) 6/30/2017 (2) 12/31/2017 nortired Presi $8,311 7,480 Carrying Value $118.311 117,480 116,549 eBook Hint Use the above straight line bond amortization table and prepare journal entries for the following (a) The issuance of bonds on December 31, 2016 (b) The first interest payment on June 30, 2017 (The second Interest payment on December 31,...
Woodwick Company issues 10%, five-year bonds, on December 31, 2016, with a par value of $95,000 and semiannual interest payments. Semiannual Period-End Unamortized Premium Carrying Value (0) 12/31/2016 $ 8,011 $ 103,011 (1) 6/30/2017 7,210 102,210 (2) 12/31/2017 6,409 101,409 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2016. (b) The first interest payment on June 30, 2017. (c) The second interest payment on December 31,...
Woodwick Company issues 6%, five-year bonds, on December 31, 2016, with a par value of $107,000 and semiannual interest payments. Semiannual Period-End Unamortized Premium Carrying Value (0) 12/31/2016 $ 8,251 $ 115,251 (1) 6/30/2017 7,426 114,426 (2) 12/31/2017 6,601 113,601 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2016. (b) The first interest payment on June 30, 2017. (c) The second interest payment on December 31,...
Woodwick Company issues 10%, five-year bonds, on December 31, 2017, with a par value of $95,000 and semiannual interest payments Carrying Value $103,011 Semiannual Period-End Unamortized Premium 12/31/2017 6/30/2018 12/31/2018 $8,011 (0) (1) (2) 7,210 6,409 102,210 101,409 Use the above straight-line bond amortization table and prepare journal entries for the following (a) The issuance of bonds on December 31, 2017. (b) The first interest payment on June 30, 2018. (c) The second interest payment on December 31, 2018 View...
Woodwick Company issues 6%, five-year bonds, on December 31, 2017, with a par value of $102,000 and semia payments. Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Premium $8,151 7,336 6,521 Carrying Value $110,151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2017, (b) The first interest payment on June 30, 2018. (c) The second interest payment on December 31, 2018. View transaction...
Paulson Company issues 7%, four-year bonds, on December 31, 2017, with a par value of $91,000 and semiannual interest payments Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Discount 56,553 5,734 4,915 Carrying Value $84,447 85, 266 86.085 points Skipped Use the above straight-line bond amortization table and prepare journal entries for the following. eBock (a) The issuance of bonds on December 31, 2017 (b) The first interest payment on June 30, 2018. (c) The second interest payment on...
Paulson Company issues 8%, four-year bonds, on December 31, 2018, with a par value of $108,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2018 $ 6,893 $ 101,107 (1) 6/30/2019 6,031 101,969 (2) 12/31/2019 5,169 102,831 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2018. (b) The first interest payment on June 30, 2019. (c) The second interest payment on December...