Question: Need help completing the attached work. I have completed some parts but having trouble with the remaining numbers. 1. Longbine Corporation redeemed $132,000 face value,

Need help completing the attached work. I have completed some parts but having trouble with the remaining numbers.

Need help completing the attached work. I have completed some parts but

1. Longbine Corporation redeemed $132,000 face value, 13% bonds on June 30, 2017, at 107. The carrying value of the bonds at the redemption date was $117,500. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. 2. Tastove Inc. redeemed $170,000 face value, 17.50% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $171,000. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. 3. Precision Company has $87,000, 8%, 12-year convertible bonds outstanding. These bonds were sold at face value and pay annual interest on December 31 of each year. The bonds are convertible into 35 shares of Precision $10 par value common stock for each $1,000 worth of bonds. On December 31, 2017, after the bond interest has been paid, $22,000 face value bonds were converted. The market price of Precision common stock was $41 per share on December 31, 2017. For each independent situation above, prepare the appropriate journal entry for the redemption or conversion of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and . Explanation 1. Bonds Payable Debit Credit 132,000 Loss on Bond Re Discount on Bond 14,500 Cash 2. Bonds Payable Premium on Bond 170,000 1,000 Gain on Bond Re Cash 3. Bonds Payable Common Stock Paid-in Capital in 22,000 Account Titles and Explanation Debit

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