21 Part 2&3 Date Jul. 1 22 23 24 25 26 Jun. 30 34 35 36 37 38 39 Account Title To record the issuance of bonds at a premiun 27 28 29 30 31 Part 4 32 Balance Sheet Presentation 33 Bonds Payable Add: Premium on Bonds Payable Carrying (Book) Value To record interest expense and premium amo Debit Credit As of July 1 2018 June 30 2019 1 2 3 4 LC 5 Computation: Bond Face Value 6 Bond Issue Value 7 Premium 8 Bond Term (Years) 9 Contractual Rate 10 11 12 13 14 15 A B Textbook Ref LO 13.3 Dixon Inc. issued bonds with a $400,000 face value, 8% interest rate, and a 6-year term on July 1, 2018 and received $430,000. Interest is payable annually. The premium is amortized using the straight-line method. 16 17 18 19 July 1, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024 Total 21 Part 2&3 20 C 1. Prepare the amortization table, assuming straightline amortization 2. Journalize the Issuance of bonds on July 1, 2018 3. Journalize the payment of interest and amortization of premium on June 30, 2019 4. Prepare the Bonds Payable section of the balance sheet as of July 1, 2018 and June 30, 2019 Interest paid $0 $400,000 $430,000 $30,000 Part 1 Premium amortization schedule - straight line method 6 8% D Premium Net interest amortized expense $0 E $0 F Unamortized premium Bond carrying balance value G
21 Part 2&3 Date Jul. 1 22 23 24 25 26 Jun. 30 34 35 36 37 38 39 Account Title To record the issuance of bonds at a premiun 27 28 29 30 31 Part 4 32 Balance Sheet Presentation 33 Bonds Payable Add: Premium on Bonds Payable Carrying (Book) Value To record interest expense and premium amo Debit Credit As of July 1 2018 June 30 2019 1 2 3 4 LC 5 Computation: Bond Face Value 6 Bond Issue Value 7 Premium 8 Bond Term (Years) 9 Contractual Rate 10 11 12 13 14 15 A B Textbook Ref LO 13.3 Dixon Inc. issued bonds with a $400,000 face value, 8% interest rate, and a 6-year term on July 1, 2018 and received $430,000. Interest is payable annually. The premium is amortized using the straight-line method. 16 17 18 19 July 1, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024 Total 21 Part 2&3 20 C 1. Prepare the amortization table, assuming straightline amortization 2. Journalize the Issuance of bonds on July 1, 2018 3. Journalize the payment of interest and amortization of premium on June 30, 2019 4. Prepare the Bonds Payable section of the balance sheet as of July 1, 2018 and June 30, 2019 Interest paid $0 $400,000 $430,000 $30,000 Part 1 Premium amortization schedule - straight line method 6 8% D Premium Net interest amortized expense $0 E $0 F Unamortized premium Bond carrying balance value G
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Hi! I am having trouble doing my accounting homework, coudl you help me complete it. The account title is between; bound payable, interest expense, premium on bond payable, discount on bond payable, cash.
Transcribed Image Text:21 Part 2&3
Date
Jul. 1
22
23
24
25
26
Jun. 30
34
35
36
37
38
39
Account Title
To record the issuance of bonds at a premiun
27
28
29
30
31
Part 4
32 Balance Sheet Presentation
33
Bonds Payable
Add: Premium on Bonds Payable
Carrying (Book) Value
To record interest expense and premium amo
Debit
Credit
As of
July 1 2018 June 30 2019
Transcribed Image Text:1
2
3
4
LC
5
Computation:
Bond Face Value
6
Bond Issue Value
7
Premium
8
Bond Term (Years)
9 Contractual Rate
10
11
12
13
14
15
A
B
Textbook Ref LO 13.3
Dixon Inc. issued bonds with a $400,000 face value, 8% interest rate, and a 6-year term on July 1, 2018
and received $430,000. Interest is payable annually. The premium is amortized using the straight-line
method.
16
17
18
19
July 1, 2018
June 30, 2019
June 30, 2020
June 30, 2021
June 30, 2022
June 30, 2023
June 30, 2024
Total
21 Part 2&3
20
C
1. Prepare the amortization table, assuming straightline amortization
2. Journalize the Issuance of bonds on July 1, 2018
3. Journalize the payment of interest and amortization of premium on June 30, 2019
4. Prepare the Bonds Payable section of the balance sheet as of July 1, 2018 and June 30, 2019
Interest paid
$0
$400,000
$430,000
$30,000
Part 1
Premium amortization schedule - straight line method
6
8%
D
Premium Net interest
amortized
expense
$0
E
$0
F
Unamortized
premium Bond carrying
balance
value
G
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