Homework Ch 9

#2

#3

#4

19-23A (similar to) E Question Help dam, Inc., issued $540,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method. Adam, Inc., can issue its bonds payable under various conditions: (Click the icon to view the conditions.) Read the requirements Requirement 1. Journalize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Record debits first, then credits. Exclude explanations from any Journal entries.) a. Record the issuance of the bonds payable at par value. Journal Entry Date Accounts Debit Credit Jan 1 Choose from any list or enter any number in the input fields and then click Check Answer 2 of 4 (1 complete) HW Score - to) Qu 10,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays Interest each January 1 and July 1 and amortizes a I-line method. Adam, Inc., can issue its bonds payable under various conditions: iew the conditions.) alize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Re explanations from any loumal antras) e of the bonds More Info a. Issuance at par value b. Issuance at a price of $460,000 when the market rate was above 5 percent c. Issuance at a price of $600,000 when the market rate was below 5 percent Print Print [Done] Done or enter any number in the input fields and then click Check Answer. Clear All Check Answer : Homework - Chapter 09 2 of 4 (1 complete) HW SO to) ,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays interest each January 1 and July 1 and amort -line method. Adam, Inc., can issue its bonds payable under various conditions: ew the conditions.) lize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not require planations from any journal entries.) of th A Requirements 1. Journalize Adam, Inc.'s issuance of the bonds and first semiannual interest payment for each situation. Round calculations to the nearest dollar. Explanations are not required. 2. Which condition results in the most interest expense for Adam, Inc.? Explain in detail. Print Sone HW Score! 25%, 2018 Question Help Score: 0 of 2 pts HW Score: 25%, 2 of 8 pts Score: 0 of 2 pts P9-42A (similar to) Question Help On April 1. 2018, Nantucket Golf Clubs issued $450,000 of 15-year, 5 percent bonds payable. The bonds were sold for $432,000. The bonds pay interest each September 30 and March 31, and any discount or premium is amortized using straight-line amortization Read the requirements Requirement 1. Fill in the blanks to complete each statement. a. Nantucket Golf Clubs' bonds are priced at (express the price as a percentage) Enter any number in the edit fields and then click Check Answer 6 parts b remaining Clear All Check Answer rto) B Que ucket Golf Clubs issued $450,000 of 15-year, 5 percent bonds payable. The bonds were sold for $432,000. The bonds pay inte "ch 31, and any discount or premium is amortized using straight-line amortization. 0 Requirements the b abs' 1. Fill in the blanks to complete these statements: a. Nantucket Golf Clubs' bonds are priced at (express the price as a percentage). b. When Nantucket Golf Clubs issued its bonds, the market interest rate was (higher than lower than or equal to 5 percent. C. The amount of bond discount or premium is_ 2. Record the following transactions: a. Issuance of the bonds payable on April 1, 2018 b. Payment of interest (and amortization of discount or premium, if any) on September 30, 2018 c. Accrual of interest (and amortization of discount or premium, if any) on December 31, 2018; explanations are not required 3. At what amount will Nantucket Golf Clubs report the bonds on its balance sheet at December 31, 2018? Print Done the edit fields and then click Check Answer. Clear All Check