Question: please answer all sections of this question there is four of them! Problem 14-9AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues





Problem 14-9AB (Algo) Effective Interest: Amortization of bond discount LO P5 Legacy issues $590.000 of 7.5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31 They are issued at $542,310 when the market rate is 10% Required: 1. Prepare the January 1 journal entry to record the bonds issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds" life. 3. Prepare an effective interest amortization talpie for the bonds' first two years, 4. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Required 4 Prepare the January 1 journal entry to record the bonds Issuance. View transaction list Journal entry worksheet Record the issue of bonds with a por value of $590,000 cash on January 1, 2021 at an issue price of $542,310. View transaction list Journal entry worksheet 0 0 Required: 1. Prepare the January 1 journal entry to record the bonds' Issuance. 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare an effective interest amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar) Semiannual Interest Period-End Cash Interest Pald Bond Interest Expense Discount Amortization Unamortized Discount Carrying Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Required: 1. Prepare the January 1 Journal entry to record the bonds' issuance 2. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 3. Prepare an effective interest amortization table for the bonds' first two years. 4. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Reapred 4 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet Record the first interest payment on June 30. Note: Enter debits before credits Dato General Journal Debit Credit June 30 View transaction list Journal entry worksheet
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