Homework Answers
Assume Straight-line Method :
Bond discount = 8625753-9000000= 374247
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Discount Amortization On the first day of the fiscal year, a company issues a $9,000,000, 6%,...
Discount Amortization On the first day of the fiscal year, a company issues a $3,000,000, 11%,...
Discount Amortization On the first day of the fiscal year, a company issues a $3,000,000, 11%, 9-year bond that pays semiannual interest of $165,000 ($3,000,000 × 11% × ½), receiving cash of $2,547,343. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense 210265 (incorrect) Discount on Bonds Payable 45265 (incorrect) Cash 165000 (correct) I tried rounding One...
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pa...
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pays semiannual interest of $156,000 ($2,600,000 x 12% x % ) , receiving cash of $2,221,467. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a...
1) Premium Amortization On the first day of the fiscal year, a company issues a $7,800,000,...
1) Premium Amortization On the first day of the fiscal year, a company issues a $7,800,000, 11%, 5-year bond that pays semiannual interest of $429,000 ($7,800,000 × 11% × ½), receiving cash of $8,417,190. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable 2) Discount Amortization On the first day of the...
Discount Amortization On the first day of the fiscal year, a company issues a $5,800,000, 8%,...
Discount Amortization On the first day of the fiscal year, a company issues a $5,800,000, 8%, 4-year bond that pays semiannual interest of $232,000 ($5,800,000 x 8% x V), receiving cash of $5,425,133. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash
Help me with Answer A and B Please :) A. B. Discount Amortization On the first day of the fiscal year, a company issues...
Help me with Answer A and B Please :)
A.
B.
Discount Amortization On the first day of the fiscal year, a company issues a $2,200,000, 6%, 10-year bond that pays semiannual interest of $66,000 ($2,200,000 x 6% x V2), receiving cash of $1,770,739. Journalize the first interest payment and the amortization of the related bond discount Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable...
Discount Amortization On the first day of the fiscal year, a company issues a $3,500,000, 7%,...
Discount Amortization On the first day of the fiscal year, a company issues a $3,500,000, 7%, 7-year bond that pays semiannual interest of $122,500 ($3,500,000 × 7% × ½), receiving cash of $2,980,321. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash
Discount Amortization On the first day of the fiscal year, a company issues a $7,500,000, 12%,...
Discount Amortization On the first day of the fiscal year, a company issues a $7,500,000, 12%, 9-year bond that pays semiannual interest of $450,000 ($7,500,000 × 12% × ½), receiving cash of $6,408,074. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash
Discount Amortization On the first day of the fiscal year, a company issues a $3,800,000, 12%,...
Discount Amortization On the first day of the fiscal year, a company issues a $3,800,000, 12%, 7-year bond that pays semiannual interest of $228,000 ($3,800,000 x 12% * Va), receiving cash of $3,467,673. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Discount Amortization On the first day of the fiscal year, a company issues a $2,800,000, 10%,...
Discount Amortization On the first day of the fiscal year, a company issues a $2,800,000, 10%, 9-year bond that pays semiannual interest of $140,000 ($2,800,000 × 10% × ½), receiving cash of $2,496,826. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,78...
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,781. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
Premium Amortization on the...
Discount Amortization On the first day of the fiscal year, a company issues a $2,600,000, 12 %, 9-year bond that pays semiannual interest of $156,000 ($2,600,000 x 12% x % ) , receiving cash of $2,221,467. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank
Discount Amortization On the first day of the fiscal year, a company issues a...
Discount Amortization On the first day of the fiscal year, a company issues a $5,800,000, 8%, 4-year bond that pays semiannual interest of $232,000 ($5,800,000 x 8% x V), receiving cash of $5,425,133. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash
Help me with Answer A and B Please :)
A.
B.
Discount Amortization On the first day of the fiscal year, a company issues a $2,200,000, 6%, 10-year bond that pays semiannual interest of $66,000 ($2,200,000 x 6% x V2), receiving cash of $1,770,739. Journalize the first interest payment and the amortization of the related bond discount Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable...
Discount Amortization On the first day of the fiscal year, a company issues a $3,800,000, 12%, 7-year bond that pays semiannual interest of $228,000 ($3,800,000 x 12% * Va), receiving cash of $3,467,673. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.
Premium Amortization on the first day of the fiscal year, a company issues a $6,000,000, 796, 6-year bond that pays semiannual interest of $210,000 ($6,000,000 x 796 × Y), receiving cash of $6,951,781. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
Premium Amortization on the...
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