Hey, can I please be helped with the following task and please show calculations on how you got the answers On April 1, 2018 client federline corp. Issued 20-year, 6% bonds with a face value of $8,000,000 at 96 as the market rate at the time was 7%. Interest is to be paid semi-annually. -make the journal entries for: April 1, 2018(the bond issue date) september 30, 2018(first interest payment date assume the straight line Amortization method has been used) September 30, 2018( assume the effective interest method has been used) dec 31, 2018 (the adjusting entry assuming the straight-line method has been used) dec 31, 2018 (the closing entry assuming straight line has been used) Assume the details expect that the bond was issued at 105 to yield an effective interest rate of 5%. Cowell company issued a $6000,000, 10%, 20-year bond at 94 on january 1, 2005. On January 1, 2018 Cowell recalled the entire bond issue at 103. -Make the journal entry for jan 1, 2018 assuming the straight-line method has been issued.
Hey, can I please be helped with the following task and please show calculations on how you got the answers On April 1, 2018 client federline corp. Issued 20-year, 6% bonds with a face value of $8,000,000 at 96 as the market rate at the time was 7%. Interest is to be paid semi-annually. -make the journal entries for: April 1, 2018(the bond issue date) september 30, 2018(first interest payment date assume the straight line Amortization method has been used) September 30, 2018( assume the effective interest method has been used) dec 31, 2018 (the adjusting entry assuming the straight-line method has been used) dec 31, 2018 (the closing entry assuming straight line has been used) Assume the details expect that the bond was issued at 105 to yield an effective interest rate of 5%. Cowell company issued a $6000,000, 10%, 20-year bond at 94 on january 1, 2005. On January 1, 2018 Cowell recalled the entire bond issue at 103. -Make the journal entry for jan 1, 2018 assuming the straight-line method has been issued.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hey, can I please be helped with the following task and please show calculations on how you got the answers On April 1, 2018 client federline corp. Issued 20-year, 6% bonds with a face value of $8,000,000 at 96 as the market rate at the time was 7%. Interest is to be paid semi-annually. -make the journal entries for: April 1, 2018(the bond issue date) september 30, 2018(first interest payment date assume the straight line Amortization method has been used) September 30, 2018( assume the effective interest method has been used) dec 31, 2018 (the adjusting entry assuming the straight-line method has been used) dec 31, 2018 (the closing entry assuming straight line has been used) Assume the details expect that the bond was issued at 105 to yield an effective interest rate of 5%. Cowell company issued a $6000,000, 10%, 20-year bond at 94 on january 1, 2005. On January 1, 2018 Cowell recalled the entire bond issue at 103. -Make the journal entry for jan 1, 2018 assuming the straight-line method has been issued.
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