ABC company issued a 5 year $200,000 bond. The bond has a stated rate of6% and the market rate of 8%. The company issued the bond at .91889 or$183,778 on January 1", 2019.AMORTIZATION OF BOND DISCOUNTstHJKInterest onCash InterestAmortizationCarrying Value(K + J)CarryingYearPayment.of Discount.DateDescriptionDebitCreditValue.(A * D)(I - H)(K * E)Jan 1 2019Jan 1, 2019June 30, 2019December 31, 2019June 30, 2020December 31, 2020June 30, 2021December 31, 2021June 30, 2022December 31, 2022June 30, 2023December 31, 2023June 30, 2019Dec 31, 2019June 30, 2020ABond Par ValueDiscount on Bond PayableBCoupon RateJan 1, 2019June 30, 2,019Market RateDec 31, 2019Dec 31, 20206month coupon rate (B/2)6 month market rate (C/2)DJune 30, 2020EDec 31, 2020Money ReceivedDiscount (A-F)FDec 31,2023 ABC company issued a 5 year $200,000 bond. The bond has a stated rateof 6% and the market rate of 4%. The company issued the bond at108.9825 or $217,965 on January 1", 2019.AMORTIZATION OF BOND PREMIUMstHJKInterest onCash InterestAmortizationCarryingCarryingYearPaymentof Premium Value(кDateDescriptionDebitCreditValue(A *D)(Н -1)-J)(K * E)Jan 1 2019Jan 1, 2019June 30, 2019December 31, 2019June 30, 2020December 31, 2020June 30, 2021December 31, 2021June 30, 2022December 31, 2022June 30, 2023December 31, 2023June 30, 2019Dec 31, 2019June 30, 2020ABond Par ValuePremium on Bond PayableВCoupon RateJun 30, 2019Jan 19Market RateDec 31, 2019Dec 31, 20206month coupon rate (B/2)6 month market rate (C/2)DJun 30, 2020EDec 31, 2020Money ReceivedPremium (F - A)FDec 31,2023

A journal entry is a form of accounting entry that is used to report a business transaction in a…

ABC company issued a 5 year $200,000 bond. The bond has a stated rate of 6% and the market rate of 8%. The company issued the bond at .91889 or $183,778 on January 1", 2019. AMORTIZATION OF BOND DISCOUNT H K Interest on Cash Interest Amortization of Discount. Carrying Value (1 - H) Carrying Year Debit Payment. (A* D) Date Description Credit Value. (K + J) (K*E) Jan 1 2019 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020 June 30, 2021 December 31, 2021 Jan 1, 2019 June 30, 2019 June 30, 2022 December 31, 2022 June 30, 2023 Dec 31, 2019 December 31, 2023 June 30, 2020 A Bond Par Value B Coupon Rate C Market Rate D 6month coupon rate (B/2) 6 month market rate (C/2) IF Discount on Bond Payable Jan 1, 2019 June 30, 2,019 Dec 31, 2019 Dec 31, 2020 June 30, 2020 Dec 31, 2020 Money Received G Discount (A-F) Dec 31,2023

ABC company issued a 5 year $200,000 bond. The bond has a stated rate of 6% and the market rate of 8%. The company issued the bond at .91889 or $183,778 on January 1", 2019. AMORTIZATION OF BOND DISCOUNT H K Interest on Cash Interest Amortization of Discount. Carrying Value (1 - H) Carrying Year Debit Payment. (A* D) Date Description Credit Value. (K + J) (K*E) Jan 1 2019 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020 June 30, 2021 December 31, 2021 Jan 1, 2019 June 30, 2019 June 30, 2022 December 31, 2022 June 30, 2023 Dec 31, 2019 December 31, 2023 June 30, 2020 A Bond Par Value B Coupon Rate C Market Rate D 6month coupon rate (B/2) 6 month market rate (C/2) IF Discount on Bond Payable Jan 1, 2019 June 30, 2,019 Dec 31, 2019 Dec 31, 2020 June 30, 2020 Dec 31, 2020 Money Received G Discount (A-F) Dec 31,2023

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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