he Colson Company issued $300.000 bonds at 98 on January 1. 2017 The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson Companyrecords straight-line amortization semiannually Prepare Colson's Journal entry for the July 1. O Interest Expense $15.000 Cash $15 00 O Interest Expense $15.000 Interest Payable $15 000 O nterest Expense Discount on Bonds Payable $15.600 $600 $15.000 Cash Interest Expense Premium on Bonds Payable $15.000 $600 Cash $15 600

he Colson Company issued $300.000 bonds at 98 on January 1. 2017 The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson Companyrecords straight-line amortization semiannually Prepare Colson's Journal entry for the July 1. O Interest Expense $15.000 Cash $15 00 O Interest Expense $15.000 Interest Payable $15 000 O nterest Expense Discount on Bonds Payable $15.600 $600 $15.000 Cash Interest Expense Premium on Bonds Payable $15.000 $600 Cash $15 600

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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The Colson Company issued $300 000 bonds at 98 on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson company records straight-line amortization Prepare Colson's Journal entry for the January Issue. OCash $300 000 Bonds Payable $300 000 Bonds Payable Cash 5300 000 $300 000 O Cash Prentum on Bonds Payable Bonds Payabte 5306 000 Cash Discount on Bends Payablele Bonds PayablE S6 000 $300 000 $294 000 se oco 300.000
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please answer in text not image with all working thanks in advance Robert Company issued 1,200 $1000 face value bonds on January 1, 2018. The bonds have a stated rate of 9%, mature on December 31, 2027, and pay interest on June 30 and December 31 of each year. The bonds were issued at a price of $1,281,542 when the market rate of interest was 8%. • Build and present the the complete amortization table • Determine the interest expense Robert should recognize for 2018
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An accounting example: Otter Products inc issued bonds on January 1, 2019. Interest to be paid semi-annually. Term in years is 2; Face value of bonds issued is $200,000; Issue Price $206,000; Specified Interest Rate each payment period is 6% Question. Calculate a. the amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use straight-line method) c. complete amoritzation table by calculating interest expense and beginning and ending bond carrying amounts at the each period over 2 years. The term is for 2 years however 3 years is showing on the workbook. How do I calcuate the 3rd year if the problem only says the term is 2 years?
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