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Mellilo Corporation issued 55,700,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98 Interest...
Mellilo Corporation issued $4,800,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest...
Mellilo Corporation issued $4,800,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2033. Mellilo's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at July 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) Debit Credit Date July 1,...
Mellilo Corporation issued $6,000,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest...
Mellilo Corporation issued $6,000,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2033. Mellilo's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at July 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) Date General Journal...
Swanson Corporation issued $7,100,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest...
Swanson Corporation issued $7,100,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) General Journal Debit Credit Date...
Swanson Corporation issued $7,700,000 of 20 year, 8 percent bonds on April 1, 2013, at 102....
Swanson Corporation issued $7,700,000 of 20 year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the S sign in your response.) Debit Credit Date Apr....
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest...
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "S" sign in your response.) Date General Journal Debit Credit...
Need answers Mellilo Corporation issued $5 million of 20-year, 9.5 percent bonds on July 1,2011, at...
Need answers
Mellilo Corporation issued $5 million of 20-year, 9.5 percent bonds on July 1,2011, at 98. Interest 30, 2031. Mellilo's fiscal year ends on December 31. Prepare the following journal entries: a. July 1, 2011, to record the issuance of the bonds b. December 31, 2011, to pay interest and amortize the bond discount. c. June 30, 2031, to pay interest, amortize the bond discount, and retire the bonds at maturity s is due on June 30 and December...
On July 1, 2015, Flanagin Corporation issued $1,751,400, 10%, 10-year bonds at $1,989,427. This p...
On July 1, 2015, Flanagin Corporation issued $1,751,400, 10%, 10-year bonds at $1,989,427. This price resulted in an effective-interest rate of 8% on the bonds. Flanagin uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1. Prepare the journal entry to record the issuance of the bonds on July 1, 2015. Prepare an amortization table through December 31, 2016 (3 interest periods), for this bond issue. Prepare the journal entry...
On January 1, 2013, Loop de Loop Raceway issued 700 bonds, each with a face value...
On January 1, 2013, Loop de Loop Raceway issued 700 bonds, each with a face value of $1,000, a stated interest rate of 6 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 7 percent, so the total proceeds from the bond issue were $681,631. Loop de Loop uses the straight-line bond amortization method. Required: 1. Prepare a bond amortization schedule. Changes During the Period Period...
On January 1, 2013, Loop de Loop Raceway issued 550 bonds, each with a face value...
On January 1, 2013, Loop de Loop Raceway issued 550 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $535,288. Loop de Loop uses the straight-line bond amortization method Required: 1. Prepare a bond amortization schedule. Changes During the Period Period...
On January 1, 2013, Surreal Manufacturing issued 780 bonds, each with a face value of $1,000,...
On January 1, 2013, Surreal Manufacturing issued 780 bonds, each with a face value of $1,000, a stated interest rate of 3.75 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 4.00 percent, so the total proceeds from the bond issue were $774,591. Surreal uses the effective-interest bond amortization method. Required: 1. Prepare a bond amortization schedule. (Round your final answers to the nearest whole dollar.)...
Mellilo Corporation issued $4,800,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2033. Mellilo's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at July 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) Debit Credit Date July 1,...
Swanson Corporation issued $7,100,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) General Journal Debit Credit Date...
Swanson Corporation issued $7,700,000 of 20 year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the S sign in your response.) Debit Credit Date Apr....
Swanson Corporation issued $7,400,000 of 20-year, 8 percent bonds on April 1, 2013, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2033. Swanson's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at April 1, 2013, to record the issuance of the bonds. (Omit the "S" sign in your response.) Date General Journal Debit Credit...
Need answers
Mellilo Corporation issued $5 million of 20-year, 9.5 percent bonds on July 1,2011, at 98. Interest 30, 2031. Mellilo's fiscal year ends on December 31. Prepare the following journal entries: a. July 1, 2011, to record the issuance of the bonds b. December 31, 2011, to pay interest and amortize the bond discount. c. June 30, 2031, to pay interest, amortize the bond discount, and retire the bonds at maturity s is due on June 30 and December...
On January 1, 2013, Loop de Loop Raceway issued 700 bonds, each with a face value of $1,000, a stated interest rate of 6 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 7 percent, so the total proceeds from the bond issue were $681,631. Loop de Loop uses the straight-line bond amortization method. Required: 1. Prepare a bond amortization schedule. Changes During the Period Period...
On January 1, 2013, Loop de Loop Raceway issued 550 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $535,288. Loop de Loop uses the straight-line bond amortization method Required: 1. Prepare a bond amortization schedule. Changes During the Period Period...
On January 1, 2013, Surreal Manufacturing issued 780 bonds, each with a face value of $1,000, a stated interest rate of 3.75 percent paid annually on December 31, and a maturity date of December 31, 2015. On the issue date, the market interest rate was 4.00 percent, so the total proceeds from the bond issue were $774,591. Surreal uses the effective-interest bond amortization method. Required: 1. Prepare a bond amortization schedule. (Round your final answers to the nearest whole dollar.)...
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