Homework Answers
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Requirement 2. Prepare an amortization schedule for the first two payments Beginning Principal Each Meath Be....
problem 2 (a) Prepare an installment payments schedule for the first 3 years. (b) Prepare the...
problem 2
(a) Prepare an installment payments schedule for the first 3 years. (b) Prepare the entries for (1) the loan and (2) the first two installment payments. Pollem . A l Company issued $400.000.9%. 20-year bonds on January 1, 2012, at 103. Inter- est is payable semiannually on July 1 and January 1. ACME uses straight-line amortization for bond premium or discount. Instructions Prepare the journal entries to record the following. (a) The issuance of the bonds (b) The...
Required information Problem 9-6A Prepare a bond amortization schedule and record transactions for the bond issuer...
Required information Problem 9-6A Prepare a bond amortization schedule and record transactions for the bond issuer (LO9-5) [The following information applies to the questions displayed below.) On January 1, 2021, Universe of Fun issues $790,000, 7% bonds that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 8%, and the bonds issue for $721,696. Interest is paid semiannually on June 30 and December 31. Problem 9-6A Part 1 Required: 1. Complete the first...
bagin from the second picture Name: QIQI PEI Date: 2020/2/27 Assignment: 1. Prepare a Note Amortization...
bagin from the second picture
Name: QIQI PEI Date: 2020/2/27 Assignment: 1. Prepare a Note Amortization table thru payoff. 2. Journalize transactions (Click tab below.) Submit to your Canvas Assignment folder. New File Name convention: Lname Fname Note Amort Table.xls 010 File name: Note Payable Amortization Table Video 10kXxb Issue Date: 2012/1/1 Note Amount: 40,000 Interest Rate (Annual): Interest Rate per Monthly payment: 0.7500% # of Monthly Payments: 48 Payment per period: ($995. 40) Interest Pre Pays Principal Balance Pmt...
Date Account Debit Credit Year 1 July 1 Oct. 1 Dec. 31-Note Dec. 31-Bond Year 2...
Date
Account
Debit
Credit
Year 1
July 1
Oct. 1
Dec. 31-Note
Dec. 31-Bond
Year 2
June 30
Sept. 30
Dec. 31-Note
Dec. 31-Bond
Year 3
June 30
Sept. 30
2. Indicate the amount of the interest expense
in (a) Year 1 and (b) Year 2.
a. Year 1 $
b. Year 2 $
3. Determine the carrying amount of the bonds
as of December 31, Year 2.
$
Entries for Bonds Payable and Installment Note Transactions The following transactions...
Journal Entries Amortization Schedule Straight-Line Amortization Effective Interest Option #1: Investments in Debt Securities Complete the...
Journal Entries
Amortization Schedule Straight-Line
Amortization Effective Interest
Option #1: Investments in Debt Securities Complete the following questions. In addition to answering the items below, you must submit an analysis of the assignment. Analyze the specific outcomes and write an analysis directed toward the team at BAJA Corporation describing what the numbers mean and how they relate to the business. Submit journal entries in the Excel file included in the module section and written segments in an MS Word document....
11:28 PR 14 4A Entries for bonds payable and installment note transactions The following transa...
11:28 PR 14 4A Entries for bonds payable and installment note transactions The following transactions were completed by Winklevoss Ine, whose fiscal year is the calendar year 2016 July 1 Issued $74,000,000 of 20 year, 11% callable bonds dated July 1, 2016, at a mar- 64 317 346 ket (effective) rate of 15%, receiving cash of $64,532,267 Interest is payable semiannually on December 31 and June 30 Oct 1 Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks...
Issued $1,190,000 of five-year, 10% callable bonds dated July 1, Year 1, at a market (effective)...
Issued $1,190,000 of five-year, 10% callable bonds dated July 1, Year 1, at a market (effective) rate of 11%, receiving cash of $1,145,149. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $310,000 by issuing a 10-year, 7% installment note to Intexicon Bank. The note requires annual payments of $44,137, with the first payment occurring on September 30, Year 2. Dec. 31. Accrued $5,425 of interest on the installment note. The interest is payable on the...
please solve these for me,thanks! 2016 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July...
please solve these for me,thanks!
2016 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a mar- ket (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. 1. Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, 2017. July Oct. Dec. 31. Accrued $3,000 of interest on the installment...
The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year:
The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Oct. 1 Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment ocourring on September 30, Year 2. Dec. 31...
Prepare an amortization schedule using the effective interest method and give the necessary journal entries in 2014 in the following two cases.
On Jan. 1, 2014, Grove Corporation issued $100,000 of 6% bonds that mature in three years with interest paid on June 30 and December 31. Prepare an amortization schedule using the effective interest method and give the necessary journal entries in 2014 in the following two cases. a) Assume the market interest rate is 4%.b) Assume the market interest rate is 8%.
problem 2
(a) Prepare an installment payments schedule for the first 3 years. (b) Prepare the entries for (1) the loan and (2) the first two installment payments. Pollem . A l Company issued $400.000.9%. 20-year bonds on January 1, 2012, at 103. Inter- est is payable semiannually on July 1 and January 1. ACME uses straight-line amortization for bond premium or discount. Instructions Prepare the journal entries to record the following. (a) The issuance of the bonds (b) The...
Required information Problem 9-6A Prepare a bond amortization schedule and record transactions for the bond issuer (LO9-5) [The following information applies to the questions displayed below.) On January 1, 2021, Universe of Fun issues $790,000, 7% bonds that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 8%, and the bonds issue for $721,696. Interest is paid semiannually on June 30 and December 31. Problem 9-6A Part 1 Required: 1. Complete the first...
bagin from the second picture
Name: QIQI PEI Date: 2020/2/27 Assignment: 1. Prepare a Note Amortization table thru payoff. 2. Journalize transactions (Click tab below.) Submit to your Canvas Assignment folder. New File Name convention: Lname Fname Note Amort Table.xls 010 File name: Note Payable Amortization Table Video 10kXxb Issue Date: 2012/1/1 Note Amount: 40,000 Interest Rate (Annual): Interest Rate per Monthly payment: 0.7500% # of Monthly Payments: 48 Payment per period: ($995. 40) Interest Pre Pays Principal Balance Pmt...
Date
Account
Debit
Credit
Year 1
July 1
Oct. 1
Dec. 31-Note
Dec. 31-Bond
Year 2
June 30
Sept. 30
Dec. 31-Note
Dec. 31-Bond
Year 3
June 30
Sept. 30
2. Indicate the amount of the interest expense
in (a) Year 1 and (b) Year 2.
a. Year 1 $
b. Year 2 $
3. Determine the carrying amount of the bonds
as of December 31, Year 2.
$
Entries for Bonds Payable and Installment Note Transactions The following transactions...
Journal Entries
Amortization Schedule Straight-Line
Amortization Effective Interest
Option #1: Investments in Debt Securities Complete the following questions. In addition to answering the items below, you must submit an analysis of the assignment. Analyze the specific outcomes and write an analysis directed toward the team at BAJA Corporation describing what the numbers mean and how they relate to the business. Submit journal entries in the Excel file included in the module section and written segments in an MS Word document....
11:28 PR 14 4A Entries for bonds payable and installment note transactions The following transactions were completed by Winklevoss Ine, whose fiscal year is the calendar year 2016 July 1 Issued $74,000,000 of 20 year, 11% callable bonds dated July 1, 2016, at a mar- 64 317 346 ket (effective) rate of 15%, receiving cash of $64,532,267 Interest is payable semiannually on December 31 and June 30 Oct 1 Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks...
please solve these for me,thanks!
2016 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a mar- ket (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. 1. Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, 2017. July Oct. Dec. 31. Accrued $3,000 of interest on the installment...
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