Accumulated Depreciation-Equipment Accumulated Depreciation-Machinery Allowance
ID: 2513007 • Letter: A
Question
Accumulated Depreciation-Equipment
Accumulated Depreciation-Machinery
Allowance for Doubtful Accounts
Bad Debt Expense
Bond Issue Expense
Bonds Payable
Buildings
Cash
Common Stock
Debt Investments
Depreciation Expense
Discount on Bonds Payable
Discount on Notes Payable
Discount on Notes Receivable
Equipment
Equity Investments
Gain on Disposal of Machinery
Gain on Disposal of Land
Gain on Disposal of Plant Assets
Gain on Redemption of Bonds
Gain on Restructuring of Debt
Gain on Sale of Machinery
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Loss on Disposal of Land
Loss on Redemption of Bonds
Machinery
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Paid-in Capital in Excess of Par - Common Stock
Paid-in Capital in Excess of Par - Preferred Stock
Premium on Bonds Payable
Sales Revenue
Unamortized Bond Issue Costs
Unearned Revenue
Unearned Sales Revenue
Unrealized Holding Gain or Loss - Income
Accumulated Depreciation-Equipment
Accumulated Depreciation-Machinery
Allowance for Doubtful Accounts
Bad Debt Expense
Bond Issue Expense
Bonds Payable
Buildings
Cash
Common Stock
Debt Investments
Depreciation Expense
Discount on Bonds Payable
Discount on Notes Payable
Discount on Notes Receivable
Equipment
Equity Investments
Gain on Disposal of Machinery
Gain on Disposal of Land
Gain on Disposal of Plant Assets
Gain on Redemption of Bonds
Gain on Restructuring of Debt
Gain on Sale of Machinery
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Loss on Disposal of Land
Loss on Redemption of Bonds
Machinery
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Paid-in Capital in Excess of Par - Common Stock
Paid-in Capital in Excess of Par - Preferred Stock
Premium on Bonds Payable
Sales Revenue
Unamortized Bond Issue Costs
Unearned Revenue
Unearned Sales Revenue
Unrealized Holding Gain or Loss - Income
Explanation / Answer
Working 1. Amortization At Discount Year PV 7 period 6% Value Present Value 1 0.943396226 Cash Paid Interest Expense Discount Amortized Carrying Amount 2 0.88999644 01-03-2017-working-1 480586 3 0.839619283 01-Sep-17 25450 28835 3385 483971 4 0.792093663 01-Mar-18 25450 29038 3588 487559 5 0.747258173 01-Sep-18 25450 29254 3804 491363 6 0.70496054 01-Mar-19 25450 29482 4032 495394 7 0.665057114 509000 338514 01-Sep-19 25450 29724 4274 499668 5.58238144 25450 142072 01-Mar-20 25450 29980 4530 504198 Present Value 480586 01-Sep-20 25450 30252 4802 509000 Journal: Date Account Debit Credit 01-Mar-17 Cash 480586 Discount on Bond Payable 28414 Bond Payable 509000 (Issuance of Bond) 01-Sep-17 Interest Expense 28835 Discount on Bond Payable 3385 Cash 25450 31-Dec-17 Interest Expense 19359 Discount on Bond Payable 2392 3588*4/6 Interest Payable 16967 509000*10%*4/12 01-Mar-18 Interest Expense 9679 29038-16967 Interest Payable 16967 Discount on Bond Payable 1196 3588*2/6 Cash 25450 01-Sep-18 Interest Expense 29254 Discount on Bond Payable 3804 Cash 25450 31-Dec-18 Interest Expense 19655 Discount on Bond Payable 2688 4032*4/6 Interest Payable 16967 509000*10%*4/12
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