Present Value Factors Single sum Periods 10 20 Periods 4 10 20 Present Value Factors Ordinary...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Present Value Factors Single sum Periods 10 20 Periods 4 10 20 Present Value Factors Ordinary annuity 4% .85480 .67556 45639 (1) Cash Cash 3.62990 8.11090 13.59033 82270 3.54595 7.72173 12.46221 Description Cash Bonds Payable Bonds Receivable Bond Premium Bond Discount Interest Expense Interest Payable (1) Prepare the journal entry to record the bond issuance on January 1, 2019 (2) Prepare the journal entry for June 30, 2019 73503 46319 On January 1, 2019 a company issued $500,000 of 8%, 10 year bonds. The bonds pay semiannual interest on June 30 and December 31 of each year. The market rate of interest for the bonds is 10%. Prepare the journal entries requested below using the following account names EXACTLY. Round amounts to the nearest whole dollar. General Journal 3.31213 6.71008 9.81815 E1 Debit 10% 12 68301 11864 Credit Present Value Factors Single sum Periods 10 20 Periods 4 10 20 Present Value Factors Ordinary annuity 4% .85480 .67556 45639 (1) Cash Cash 3.62990 8.11090 13.59033 82270 3.54595 7.72173 12.46221 Description Cash Bonds Payable Bonds Receivable Bond Premium Bond Discount Interest Expense Interest Payable (1) Prepare the journal entry to record the bond issuance on January 1, 2019 (2) Prepare the journal entry for June 30, 2019 73503 46319 On January 1, 2019 a company issued $500,000 of 8%, 10 year bonds. The bonds pay semiannual interest on June 30 and December 31 of each year. The market rate of interest for the bonds is 10%. Prepare the journal entries requested below using the following account names EXACTLY. Round amounts to the nearest whole dollar. General Journal 3.31213 6.71008 9.81815 E1 Debit 10% 12 68301 11864 Credit
Expert Answer:
Answer rating: 100% (QA)
Here are the journal entries requested 1 January 1 2019 bond issuance Cash 5... View the full answer
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Posted Date:
Students also viewed these finance questions
-
Desktop Migration Proposal Section 1: PC Purchase Research Provide... Instructions This week, you will submit the second project, the Desktop Migration Proposal. Using the requirements analysis your...
-
At an annual effective interest rate of 3%, the following assets have the same duration: A 9-year bond that redeems at par and pays annual coupons at a rate of r. A 14-year annuity with level...
-
Depreciation policy is an important decision made by a company's Finance Director. A company has purchased some equipment for 85,000, with an estimated scrap value of 9,000 at the end of its useful...
-
City Garden Suppliers paid a $1 dividend yesterday. It is expected that the dividend will grow at 10% per year for 4 years, 8% per year for 10 years, and then at 5% per year thereafter. If the...
-
Let BAL DFA = {M| M is a DFA that accepts some string containing an equal number of 0s and 1s}. Show that BALDFA is decidable. Theorems about CFLs are helpful here.
-
Bernardino Santos-Rodiguez was piloting a boat owned by his friend, Raul Viera-Torres, in waters near Guayama, Puerto Rico. The boat was equipped with a hydraulic steering system manufactured by...
-
The Town of Wilson has a Water Utility Fund with the following trial balance as of July 1, 2011, the first day of the fiscal year: During the year ended June 30, 2012, the following transactions and...
-
A certain substance has a mass per mole of 53 g/mol. When 312 J is added as heat to a 26.0 g sample, the sample's temperature rises from 21.0C to 45.0C. What are the (a) specific heat and (b) molar...
-
Joe Clark has his own Desktop Publishing business. In may you as the bookkeeper prepared a Trial Balance and then reviewed the accounts. The following items became apparent upon review of the...
-
Neon lights consist of a sealed glass tube filled with a specific elemental gas and electrodes at each end. The first section talks about the quantization of energy and spectroscopy. What is the...
-
Jenny loves experimenting with trees. Her favorite tree has n nodes connected by n-1 edges, and each edge is 1 unit in length. She wants to cut a subtree (i.e., a connected part of the original tree)...
-
Question 3 (Mathematical Modelling) (25 points)(+ Bonus 5 points) A) (10 points) In p-hub median problem, p hubs are opened, origin-destination (o-d) flows travel via hubs and interhub transportation...
-
Question 1 Supervised learning concepts [25 marks] (a) Two subtypes of supervised learning are classification and regression. (i) Consider the task of predicting the number of children in a family...
-
1 8 . Answer the following questions on IP addresses ( i ) What is the prefix length notation for the subnet mask 2 5 5 . 2 5 5 . 2 5 5 . 2 2 4 ? ( ii ) State the IPv 6 address that is not routable...
-
Generally accepted accounting principles require companies to use a specific format for financial statements. True or False
-
Amman Gardens LLC is a Jordanian gardening and landscaping company. Income Tax calculation based on financial accounting for 2018 is disclosed below. Additional information indicates that: -Of the...
-
It is possible to investigate the thermo chemical properties of hydrocarbons with molecular modeling methods. (a) Use electronic structure software to predict cHo values for the alkanes methane...
-
The trial balance of Airbourne Travel Inc. on March 31, 2020, is as follows: Additional information: 1. A physical count reveals only $520 of supplies on hand. 2. Equipment is depreciated at a rate...
-
Cauchy Inc. (CI) has just had a planning meeting with its auditors. There were several concerns raised during the meeting regarding the draft financial statements for the December 31, 2020 year end....
-
Wynn Corp. offers a set of building blocks to customers who send in three codes from Wynn cereal, along with $1. Wynn purchased 100,000 building block sets in 2020 for $2.50 each, and paid for them...
-
Do you think the trend discussed in the case will help companies hire more skilled managers and employees to staff foreign operations? Explain. According to a recent report by the Chronicle of Higher...
-
Some companies agree that the move toward internationalization by U.S. universities primarily reflect an attempt to get more money because foreign buyers are willing to pay top dollar to obtain a...
-
Form teams of five. Each team will come up with a list of five positives and five negatives for the trend discussed in the case. Each team will outline a set of implications of what this trend means...
Study smarter with the SolutionInn App