raded Assignment 1 Help Save & Exit Submit Soved 4. Calculate the Interest expense that would...
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raded Assignment 1 Help Save & Exit Submit Soved 4. Calculate the Interest expense that would be recorded in each of 20X9 and 20X10. (Do not round Intermedlate calculatlons. Round your final answers to the nearest whole dollar amount.) Check my work 20X9 20X10 Hambelton Ltd. Issued $3,650,000 of 5% bonds payable on 1 September 20X9 to yleld 4%. Interest on the bonds is paid seml-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20X8, and had an original term of five years. The accounting period ends on 31 December. The effective-interest method is used. (PV of $1, PVA of $1, and PVAD of $1.) (Use approprlate factor(s) from the tables provided.) Interest expense Required: 1. Determine the price at which the bonds were issued. (Round time value factor to 5 declmal places. Do not round Intermedlate calculatlons. Round your final answer to the nearest whole dollar amount.) 5. Show how the bond would be presented on the statement of financial position as of 31 December 20X9 and 20X10. (Do not round Intermediate calculatlons. Round your final answers to the nearest whole dollar amount.) Price of Bond HAMBELTON LIMITED Statement of Financial Position (Partial) As of 31 December 20X9 20X10 Bonds payable Premium on bond payable 2. Prepare a bond amortization table for the life of the bond. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no cells blank - be certaln to enter "O" wherever requlred.) Interest Interest Premium Unamortized Premium Net Bond Date Payment Expense Amortization Liability Opening 1 2 3 5 6 7 3.Prepare journal entries to record the issuance of the bonds, payment of Interest, and all necessary adjustments through to the end of 20X10. (If no entry is required for a transaction/event, select "No Journal entry requlred" In the first account fleld. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 > Record the issuance of bonds at a premium. Note: Enter debits before credits. Date General Journal Debit Credit 1 September 20X9 Record entry Clear entry View general journal raded Assignment 1 Help Save & Exit Submit Soved 4. Calculate the Interest expense that would be recorded in each of 20X9 and 20X10. (Do not round Intermedlate calculatlons. Round your final answers to the nearest whole dollar amount.) Check my work 20X9 20X10 Hambelton Ltd. Issued $3,650,000 of 5% bonds payable on 1 September 20X9 to yleld 4%. Interest on the bonds is paid seml-annually and is payable each 28 February and 31 August. The bonds were dated 1 March 20X8, and had an original term of five years. The accounting period ends on 31 December. The effective-interest method is used. (PV of $1, PVA of $1, and PVAD of $1.) (Use approprlate factor(s) from the tables provided.) Interest expense Required: 1. Determine the price at which the bonds were issued. (Round time value factor to 5 declmal places. Do not round Intermedlate calculatlons. Round your final answer to the nearest whole dollar amount.) 5. Show how the bond would be presented on the statement of financial position as of 31 December 20X9 and 20X10. (Do not round Intermediate calculatlons. Round your final answers to the nearest whole dollar amount.) Price of Bond HAMBELTON LIMITED Statement of Financial Position (Partial) As of 31 December 20X9 20X10 Bonds payable Premium on bond payable 2. Prepare a bond amortization table for the life of the bond. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no cells blank - be certaln to enter "O" wherever requlred.) Interest Interest Premium Unamortized Premium Net Bond Date Payment Expense Amortization Liability Opening 1 2 3 5 6 7 3.Prepare journal entries to record the issuance of the bonds, payment of Interest, and all necessary adjustments through to the end of 20X10. (If no entry is required for a transaction/event, select "No Journal entry requlred" In the first account fleld. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 > Record the issuance of bonds at a premium. Note: Enter debits before credits. Date General Journal Debit Credit 1 September 20X9 Record entry Clear entry View general journal
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Related Book For
Fundamentals Of Financial Accounting
ISBN: 9781265440169
7th Edition
Authors: Fred Phillips, Shana Clor-Proell, Robert Libby, Patricia Libby
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