Journal Instructions Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Year 1, Shunda Corporation...
Amortize discount by interest method Instructions Chart of Accounts Journal Additional Question Final Question Instructions On January 1, the first day of its fiscal year, Ebert Company issued $12,500,000 of 10-year, 9% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Ebert Company receiving cash of $11,006,214. The company uses the interest method Journal A. Journalize the entries to record the transactions. Refer to the Chart...
Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smileysued $18.400,000 of five year, 12% bonds at a market offective interest rate of 10%, receiving cash of $19,820,734. Interest is payable semiannually on April 1 and October 1 Required: a. Joumalize the entries to record the following. Refer to the Chart of Accounts for exact wording of accounts 1. Issuance of bonds on April 1, Yoar 1. 2. First interest payment on October 1, Year 1,...
Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $1,100,000 of 4-year, 12% bonds at a market (effective) interest rate of 9%, receiving cash of $1,208,833. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable...
Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smiley Corporation issued $18,400,000 of five-year, 8% bonds at a market (effective) interest rate of 7%, receiving cash of $19,165,153. Interest is payable semiannually on April 1 and October 1. Required: A. Journalize the entries to record the following. Refer to the Chart of Accounts for exact wording of account titles. 1. Issuance of bonds on April 1. 2. First interest payment on October 1 and amortization...
Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $1,600,000 of 6-year, 7% bonds at a market (effective) interest rate of 4%, receiving cash of $1,853,807. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first...
On the first day of its fiscal year, Ebert Company issued $12,000,000 of 5-year, 11% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 12%, resulting in Ebert receiving cash of $11,558,459. The company uses the interest method. Amortize Premium by Interest Method Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda issued $30,000,000 of five-year, 10% bonds at a market (effective) interest rate of 8%, receiving...
Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $4,600,000 of 5-year, 10% bonds at a market (effective) interest rate of 9%, receiving cash of $4,781,993. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave...
Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $4,600,000 of 4-year, 10% bonds at a market (effective) interest rate of 7%, receiving cash of $5,074,303. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave...
On January 1, the first day of the fiscal year, a company issues a $2,750,000, 8%, five-year bond that pays semiannual interest of $110,000 ($2,750,000 x 8% x ½), receiving cash of $2,938,110. Journal Shaded cells have feedback. X Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? PAGE 10 JOURNAL Score: 29/37 ACCOUNTING EQUATION...
15 1) Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $1,200,000 of 10-year, 12% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions for the current year. Refer to the Chart of Accounts for exact wording of account titles. May 1 Issued the bonds for...