Problem 10-9A Wempe Co. sold $3,271,000, 9%, 10-year bonds on January 1, 2014. T
ID: 2444734 • Letter: P
Question
Problem 10-9A
Wempe Co. sold $3,271,000, 9%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually.
No.
Date
Account Titles and Explanation
Debit
Credit
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Annual
Interest
Periods
Interest to
Be Paid
Interest Expense
to Be Recorded
Premium
Amortization
Unamortized
Premium
Bond
Carrying Value
Annual
Interest
Periods
Interest to
Be Paid
Interest Expense
to Be Recorded
Premium
Amortization
Unamortized
Premium
Bond
Carrying Value
SHOW LIST OF ACCOUNTS
LINK TO TEXT
No.
Date
Account Titles and Explanation
Debit
Credit
SHOW LIST OF ACCOUNTS
WEMPE Co.
Balance Sheet (Partial)
December 31, 2014
WEMPE Co.
Balance Sheet (Partial)
December 31, 2014
Problem 10-9A
Wempe Co. sold $3,271,000, 9%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually.
Explanation / Answer
Problem 10-9A Wempe Co. sold $3,271,000, 9%, 10-year bonds on January 1, 2014. T
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