Homework Answers
| Date | General Journal | Debit | Credit | |
| Jan 1,2020 | Cash | 10000000 | ||
| Bonds payable | 10000000 | |||
| (To record issue of bonds) | ||||
| Dec 31,2020 | Interest expense | 800000 | =10000000*8% | |
| Interest payable | 800000 | |||
| (To record interest accrued) | ||||
| Jan 1,2021 | Interest payable | 800000 | ||
| Cash | 800000 | |||
| (To record interest paid) |
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1. Brubeck Co, issued $10,000,000 of 30-year, 8% bonds on Jan 1, 2020, with interest payable...
Brubeck Co. issued S10,000,000 of 30-year, 8% bonds on Jan 1, 2020, with interest payable annually on Jan 1
Brubeck Co. issued S10,000,000 of 30-year, 8% bonds on Jan 1, 2020, with interest payable annually on Jan 1REQUIRED Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2020 Issued the bonds for cash at their face amount Dec 31, 2020 Recorded accrued interest Jan 1, 2021 Paid the interest on the bonds.
LAST See on . Brubeck Co. issued $10.000.000 o 30 years, to bondo on Jan s,...
LAST See on . Brubeck Co. issued $10.000.000 o 30 years, to bondo on Jan s, 2020, with interest payable annually on Jan s. Prepare Journal entries to record the following: 1 Jans, 2020 Issued the bondo for cash at Their I face amount Dec 31, 2020 Recorded accrued interest Jan 1, 2021 Paid the interest on the bondo.
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium. REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9 % bonds , for...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9 % bonds , for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium. REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Jan 1, 2022 Payment of interest After payment of...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare joumal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
Pharoah Company issued $450,000, 6%, 20-year bonds on January 1, 2020, at 101. Interest is payable...
Pharoah Company issued $450,000, 6%, 20-year bonds on January 1, 2020, at 101. Interest is payable annually on January 1. Pharoah uses straight-line amortization for bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 454500 450000 4500 Prepare the journal entry to record the accrual of interest and the premium...
LAST See on . Brubeck Co. issued $10.000.000 o 30 years, to bondo on Jan s, 2020, with interest payable annually on Jan s. Prepare Journal entries to record the following: 1 Jans, 2020 Issued the bondo for cash at Their I face amount Dec 31, 2020 Recorded accrued interest Jan 1, 2021 Paid the interest on the bondo.
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium. REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9 % bonds , for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium. REQUIRED (16 points) Prepare journal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Jan 1, 2022 Payment of interest After payment of...
3. On January 1, 2021 Clayton Co. issued $1,300,000 of 20-year, 9% bonds, for $1,225,000. Interest is payable annually on January 1. The company uses the straight-line method to amortization any bond discount or premium REQUIRED (16 points) Prepare joumal entries to record the following (round to nearest dollar.) Jan 1, 2021 Issuance of the bonds on January 1, 2021 Dec 31, 2021 Recorded accrued interest Jan 1, 2022 Payment of interest Jan 1, 2022 After payment of interest on...
Pharoah Company issued $450,000, 6%, 20-year bonds on January 1, 2020, at 101. Interest is payable annually on January 1. Pharoah uses straight-line amortization for bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 454500 450000 4500 Prepare the journal entry to record the accrual of interest and the premium...
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