Question: can someone please help me i need major help on this one please Califomia Coal Company has 12%, 10-year bonds payable that mature on June
can someone please help me i need major help on this one please
Califomia Coal Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued on June 30, 2018, and California Coal pays interest each June 30 and December 31 Read the requirements Requirement 1. Will the bonds be issued at face value, at a premium, or at a discount if the market interest rate on the date of issuance is 11% of the market interest rate is 13962 If the market interest rate is 11%, the bonds will be issued at a premium If the market interest rate is 13%, the bonds will be issued at a discount Requirement 2. California Coal issued $1,100,000 of the bonds at 91. Round all calculations to the nearest dollar. a. Record issuance of the bonds on June 30, 2018. (Record debits first, then credits. Select explanations on the last line of the jo nearest whole dollar.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question CO JE SUSRET. Date Accounts and Explanation Debit Credit 2018 (a) Jun 30 b. Record the payment of interest and amortization of the discount on December 31, 2018. Use the straight-line amortization method. (Rec Select explanations on the last line of the joumal entry. Round your answers to the nearest whole dollar) Date Accounts and Explanation Debit Credit California Coal Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued June 30 and December 31. Read the requirements. (b) Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question. c. Compute the bonds' carrying amount at December 31, 2018. (Enter all amounts to the nearest whole dollar Carrying amount at December 31, 2018 Long-term Liabilities: Read the requirements. uguyup Long-term Liabilities: Less: - Dann thaniment afindarant Hinnnnnnnnn 2010 Choose from a list or antara- poyo sulld Ul JUN JU, 2020. le D US 150CU UN JUNE JU, 2010, all June 30 and December 31. Read the requirements d. Record the payment of interest and amortization of discount on June 30, 2019. (Record debits first, then credits. Select explanations Round your answers to the nearest whole dollar) Date Accounts and Explanation Debit Credit 2019 California Coal Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are iss June 30 and December 31. Read the requirements. (d) Jun. 30