Kimmel, Financial Accounting, 8e Help I System Announcements CALC Exercise 10-13 (Part Level Submission) Sandhill Co. issued $600,000 of 8%, 15-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. v (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manu Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS

Kimmel, Financial Accounting, 8e Help I System Announcements CALC Exercise 10-13 (Part Level Submission) Sandhill Co. issued $600,000 of 8%, 15-year bonds on January 1, 2017, at face value. Interest is payable annually on January 1. v (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manu Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS

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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Pina Calade Corp. issued 2,100 8%, 9-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2017 (b) Prepare the adjusting journal entry an December 31, 2017, to record interest expense. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 (c) Prepare the journal entry on January 1, 2018, to record interest paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2018
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Subject :- Accountion
2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress3false eBook Show Me How Calculator Print Item Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $18,200,000 of five-year, 9% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Chin receiving cash of $16,828,145. a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) If an amount box does not require an entry, leave it blank. Round your…
Issuing Bonds at Face Amount The first day of the fiscal year, a company issues a $700,000, 6%, 10-year bond that pays semiannual interest of $21,000 ($700,000 x 6% x 2 year), receiving cash of $700,000. a. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first interest payment. If an amount box does not require an entry, leave it blank. C. Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank.
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.
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How do I journalize using the straight line method
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D2. Account