es Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $107,000 and semiannual interest payments. Seniannual Period-End Unamortized Premium Carrying Value $ 8,251 $ 115,251 114,426 7,426 6,601 113,601 (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. View transaction list Journal entry worksheet 1 2 3 Record the issuance of the bonds on January 1. Record entry Note: Enter debits before credits. Date January 01 General Journal Clear entry < Prev Debit Credit View general journal 6 of 7 Next >

es Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $107,000 and semiannual interest payments. Seniannual Period-End Unamortized Premium Carrying Value $ 8,251 $ 115,251 114,426 7,426 6,601 113,601 (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. View transaction list Journal entry worksheet 1 2 3 Record the issuance of the bonds on January 1. Record entry Note: Enter debits before credits. Date January 01 General Journal Clear entry < Prev Debit Credit View general journal 6 of 7 Next >

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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Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment Carrying Value $ 83,467 84,284 (2) December 31, second payment 85,101 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30.. (c) The second interest payment on December 31. View transaction list Journal entry worksheet < 1 2 3 Date January 01 Record the issuance of the bonds on January 1. Note: Enter debits before credits. Unamortized Discount $ 6,533 5,716 4,899 General Journal Debit Credit
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