Homework Answers
Answer
--Journal entries
| Date | Accounts title | Debit | Credit |
| 01-Jan-21 | Cash | $55,000 | |
| Bonds Payable | $55,000 | ||
| (to record issuance) | |||
| 31-Dec-21 | Interest Expense ($55000 x 6%) | $3,300 | |
| Cash | $3,300 | ||
| (first interest payment) |
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Check my work Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $55,000 for...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $53,000 for $53,000 on January...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount
of $53,000 for $53,000 on January 1, 2021. The market interest rate
for bonds of similar risk and maturity is 5%. Interest is paid
annually on December 31.
Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1...
Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January...
Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $51,000 for $46,591 on January...
Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $51,000 for $46,591 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermed iate...
Check m Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,310...
Check m Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,310 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31. 2.5 points Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field....
2. Record the first interest payment. Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount...
2. Record the first interest
payment.
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $58,000 for $62,521 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. 2.5 points Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in...
Pretzelmania, Inc., Issues 5%, 10 year bonds with a face amount of $56.000 for $56,000 on...
Pretzelmania, Inc., Issues 5%, 10 year bonds with a face amount of $56.000 for $56,000 on January 1, 2021 The market interest rate for bonds of similar risk and maturity is 5% Interest is paid semiannually on June 30 and December 31 Required: 1.8 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select No Journal Entry Required in the first account field.) View fractionat Journal entry...
A company issues 75, 10 year bonds with a face amount of $80.000 for $74.564 on...
A company issues 75, 10 year bonds with a face amount of $80.000 for $74.564 on January 1, 2021 The market interest rate for bonds of similar risk and maturity is 8% Interest is paid semiannually on June 30 and December 31 Required: 1 2 Record the bond issue and first interest payment on June 20, 2021. no entry is required for a particulier transaction even select "No Journal Entry Required in the first account Teld. Do not round Intermediate...
two parts A company issues 7%, 10-year bonds with a face amount of $80,000 for $85.951...
two parts
A company issues 7%, 10-year bonds with a face amount of $80,000 for $85.951 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not...
A company issues 5%, 10-year bonds with a face amount of $70,000 for $75,723 on January...
A company issues 5%, 10-year bonds with a face amount of $70,000 for $75,723 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount
of $53,000 for $53,000 on January 1, 2021. The market interest rate
for bonds of similar risk and maturity is 5%. Interest is paid
annually on December 31.
Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1...
Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $51,000 for $46,591 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermed iate...
Check m Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,310 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31. 2.5 points Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field....
2. Record the first interest
payment.
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $58,000 for $62,521 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. 2.5 points Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in...
Pretzelmania, Inc., Issues 5%, 10 year bonds with a face amount of $56.000 for $56,000 on January 1, 2021 The market interest rate for bonds of similar risk and maturity is 5% Interest is paid semiannually on June 30 and December 31 Required: 1.8 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select No Journal Entry Required in the first account field.) View fractionat Journal entry...
A company issues 75, 10 year bonds with a face amount of $80.000 for $74.564 on January 1, 2021 The market interest rate for bonds of similar risk and maturity is 8% Interest is paid semiannually on June 30 and December 31 Required: 1 2 Record the bond issue and first interest payment on June 20, 2021. no entry is required for a particulier transaction even select "No Journal Entry Required in the first account Teld. Do not round Intermediate...
two parts
A company issues 7%, 10-year bonds with a face amount of $80,000 for $85.951 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not...
A company issues 5%, 10-year bonds with a face amount of $70,000 for $75,723 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate...
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