Deleau Equipment Ltd. issued 12%, five-year bonds with a face value of $81,890,000 on October 1,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Deleau Equipment Ltd. issued 12%, five-year bonds with a face value of $81,890,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 cach year. Deleau's year end is December 31. Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Oc. 1 eTextbook and Media List of Accounts Prepare the journal entry required at December 31, 2020, and the entries for the interest payments on March 31 and September 30, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Mar. 31, 2021 Sept. 30, 2021 Deleau Equipment Ltd. issued 12%, five-year bonds with a face value of $81,890,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 cach year. Deleau's year end is December 31. Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Oc. 1 eTextbook and Media List of Accounts Prepare the journal entry required at December 31, 2020, and the entries for the interest payments on March 31 and September 30, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Mar. 31, 2021 Sept. 30, 2021
Expert Answer:
Answer rating: 100% (QA)
81 890000 OCt s Cash 81890000 Bond payabie Dec 31 49134... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
Students also viewed these accounting questions
-
The Glover Corporation purchased bonds with a face value of $300,000 for $307,493.34 on January 1, 2007. The bonds carry a face rate of interest of 12%, pay interest semiannually on June 30 and...
-
The company intends to issue 20-year bonds with a face value of $1,000. The bonds carry a coupon rate of 10%, and interest is paid semiannually. On the issue date, the market interest rate for bonds...
-
A recently issued industrial bond with a face value of $10,000 has a coupon rate of 8% per year, payable annually. The bond matures 20 years from now. Jeremy is interested in buying one bond. If he...
-
In Problems 67 90, multiply the polynomials using the special product formulas. Express your answer as a single polynomial in standard form. (x-4)
-
Media Designs is a marketing firm that designs and prints customized marketing brochures. The design department designs the brochure and the printing department prints and binds it. Each department...
-
a). Consider an array of integers consisting of the number: 12 8 32 19 92 89 90 45 67 55 72. Suppose the pivot is the last element in the list i.e. integer 72. Apply just the partition algorithm of...
-
The curved rod has a diameter \(d\). Determine the vertical displacement of end \(B\) of the rod. The rod is made of material having a modulus of elasticity of \(E\). Consider only bending strain...
-
Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine...
-
The x-axis is horizontal and directed toward the point where the ball crosses over the wall. The time t required for the ball to reach the wall is given by the following equation in terms of the...
-
1. Create and upload a histogram of the salary data for the city of Bell, where each bar width is about 50,000 US dollars. (Data for the histogram is at the bottom). a.) Is the distribution of the...
-
Which of the following attributes is NOT for lean operations? O Empower employees O Focus on value added operations O Develop collaborative partnerships with suppliers O Build processes that increase...
-
What are the tasks needed when building and testing databases?
-
Sketch an isentropic and actual pumping process on a Ts diagram for a compressed liquid. Include the vapor dome and the pressure contours that pass through the initial and final states.
-
Who are the network designers and network administrators?
-
What is the purpose and the major activity of the construction phase?
-
What are the four common conversion strategies?
-
What is one way to streamline the data collection process? Question 8 options: Use preformulated lists of generic record types. Conduct physical surveys for all records. Ignore routine recordkeeping...
-
In exchange for land, the company received a 12-month note on January 1. The face amount of the note is $1,000, and the stated rate of interest is 13%, compounded annually. The 13% rate is equal to...
-
Letterman Corporations bank statement for the month of April included the following information: Bank service charge for April . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . ....
-
Oriental Sales Co. uses the first-in, first-out method in calculating cost of goods sold for three of the products that Oriental handles. Inventories and purchase information concerning these three...
-
During the 1960s and 1970s, the U.S. Congress used a tax measure known as the investment tax credit to encourage companies to expand their investment base. Under these provisions, companies received...
-
Blatt Consulting Services is interested in comparing the number of customer accounts managed by its consultants. The chart below is a default chart produced in Excel. a. Which preattentive attributes...
-
Red Sky Delivery performs last-mile delivery services for online retailers such as Amazon. Red Sky employs delivery drivers who deliver packages to individual residence and business locations from a...
-
The file beveragedistributor contains data on the monthly revenue for a large regional distributor of beverages. a. Create a line chart to depict the revenue time series at the annual level. What...
Study smarter with the SolutionInn App