On January 1, 2014, Ultra Vision Corp. issued $1,200,000 of 20-year 8% bonds that pay interest semi-annually on June 30 and December 31. Assume the bonds were sold at: (1) 98; and (2) 102. Journalize the issuance of the bonds at 98 and 102.
Answer to relevant QuestionsPoint North Inc. issued bonds on September 1, 2014, with a par value of $150,000. The bonds mature in 15 years and pay 8% annual interest in two semi-annual payments. On the issue date, the annual market rate of interest for ...Refer to the amortization schedule prepared in Exercise 15-18. Assume a November 30 year-end.RequiredPart 1Record the following entries:a. Issuance of the bonds on October 1, 2014.b. Adjusting entry to accrue bond interest ...Use the data in Exercise 15-25 to prepare journal entries that KEC Environmental Corp. would make to record the loan on December 31, 2014, and the four payments starting on December 31, 2015, through the final payment on ...Cadington Inc. issued 8.5% bonds with a par value of $450,000 and a five-year life on January 1, 2014, for $459,125. The bonds pay interest on June 30 and December 31. The market interest rate was 8% on the original issue ...Westgate Inc. issued bonds with a par value of $680,000 and a five-year life on January 1, 2014. The bonds pay interest on June 30 and December 31. The contract interest rate is 8%. The market interest rate was 9% on the ...
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