File Edit View History Bookmarks People Window Help Check Your Work Homepage-XLS

Question

File Edit View History Bookmarks People Window Help Check Your Work Homepage-XLS GP x McGraw-Hill Educat x-GElls Issues Z5%, Fi M chapter 10 HW Orange: Connect-EX x ezto.mheducation.com/hm.tpx Woodwick Company issues 6%, five-year bonds, on December 31, 2015, with a par value of S93.000 and semiannual interest payments. 7,971 7,174 6,377 (0) 12/31/2015 $100,971 100,174 99,377 (1) 6/30/2016 (2) 12/31/2016 Use the above straight-ine bond amortization table and prepare journal entries for the following (a) The issuance of bonds on December 31. 2015. (b) The first interest payment on June 30, 2016. (c) The second interest payment on December 31, 2016. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $93,000 cash on December 31, 2015 Note: Enter debits before credits. Dat Debit Dec. 31, 2015 Record entry Clear entry View general journal

Explanation / Answer

Date General Journal Debit Credit Dec 31, 2015 Cash $100,971 Premium on bonds payable $7,971 Bonds payable $93,000 Jun 30, 2016 Bond interest expense $1,993 Premium on bonds payable($7,971 - $7,174) $797 Cash($93,000 × 6% × 1/2) $2,790 Dec 31, 2016 Bond interest expense   $1,993 Premium on bonds payable($7,174 - $6,377) $797 Cash($93,000 × 6% × 1/2) $2,790

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.