Question: Please help me with the journal entries. Presented below are selected transactions on the books of Swifty Corporation. May 1 , 2 0 2 5
Please help me with the journal entries.
Presented below are selected transactions on the books of Swifty Corporation.
May Bonds payable with a par value of $ which are dated January are sold at plus accrued interest. They are coupon bonds, bear interest at payable annually at January and mature January Use the Interest Expense account for accrued interest.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. Use straightline
amortization.
Jan. Interest on the bonds is paid.
April Bonds with par value of $ are called at plus accrued interest, and redeemed. Bond premium is to be amortized only at the end of each year.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized.
Prepare journal entries for the transactions above. Do not round intermediate calculations. Round answers to decimal places, eg Record
entries in the order displayed in the problem statement. If no entry is required, select No Entry" for the account titles and enter for the amounts.
Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Presented below are selected transactions on the books of Swifty Corporation.
May Bonds payable with a par value of $ which are dated January are sold at plus accrued interest. They are coupon bonds, bear interest at payable annually at January and mature January Use the Interest Expense account for accrued interest.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. Use straightline
amortization.
Jan. Interest on the bonds is paid.
April Bonds with par value of $ are called at plus accrued interest, and redeemed. Bond premium is to be amortized only at the end of each year.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized.
a
Prepare journal entries for the transactions above. Do not round intermediate calculations. Round answers to decimal places, eg Record entries in the order displayed in the problem statement. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Presented below are selected transactions on the books of Swifty Corporation.
May Bonds payable with a par value of $ which are dated January are sold at plus accrued interest. They are coupon bonds, bear interest at payable annually at January and mature January Use the Interest Expense account for accrued interest.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. Use straightline
amortization.
Jan. Interest on the bonds is paid.
April Bonds with par value of $ are called at plus accrued interest, and redeemed. Bond premium is to be amortized only at the end of each year.
Dec. Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized.
a
Prepare journal entries for the transactions above. Do not round intermediate calculations. Round answers to decimal places, eg Record entries in the order displayed in the problem statement. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.
Interest Expense
Premium on Bonds Payable
Bonds Payable
Interest Expense
To record the interest
Premium on Bonds Payable
mid
To amortize the premium
longdiv square
Interest Expense
Cash
Gain on Redemption of Bonds
To record the interest
Premium on Bonds Payable
To amortize the premium
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