Answered: Journal entry worksheet < 1 Record the…

Journal entry worksheet < 1 Record the retirement of the bonds. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 10SPB: NOTES RECEIVABLE ENTRIES M. L. DiMaurizio had the following notes receivable transactions: REQUIRED...

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Question

Several years ago, Nicole Company issued bonds with a face value of $1,000,000 for $945,000. As a result of declining interest rates, the company has decided to call the bond at a call premium of 5 percent over par. The bonds have a current book value of $984,000.

Journal entry worksheet
<
1
Record the retirement of the bonds.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1
Record entry
Clear entry
View general journal

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On 31 December 20X7, a company has the following bond on the statement of financial position: Bond payable, 7%, interest due semi-annually on 31 Dec. and 3e June; maturity date, 30 June 20X11 Premium on bonds payable $5,600,000 47,040 $5,647,040 On 28 February 20X8, 20% of the bond was retired for $1,232,000 plus accrued interest to 28 February. Interest was paid on this date only for the portion of the bonds that were retired. Premium amortization was recorded on this date in the amount of $450, representing amortization on the retired debt only. Required: Provide the entries to record the bond interest on 28 February and the bond retirement. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
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Please proper solution no plagiarism please
Brief Exercise 9-12 (Algo) Record bond issue at a discount and related annual interest (LO9-5) Pretzelmania, Incorporated, issues 5%, 20-year bonds with a face amount of $68,000 for $60,200 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet
Subject: accounting
Entire Journal entry worksheet please
Brief Exercise 9-13 (Algo) Record bond issue at a premium and related annual interest (LO9-5) Pretzelmania, Incorporated, issues 7%, 15-year bonds with a face amount of $64,000 for $70,216 on January 1, 2024. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet
View transaction list Journal entry worksheet >
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Please read and create journal entry for the three statements.
Post these transactions from each General Journal into the General Ledger accounts. When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).