On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.
On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 16E
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![On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and
December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968
Required:
1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as
positive values.)
Change in
Carrying Value
Interest
Cash Paid
Carrying Value
Date
Expense
01/01/2021
06/30/2021
12/31/2021
2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31,
2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your answers to the nearest dollar amount.)
View transaction list
Journal entry worksheet
2
1
3
Record the bond issue on January 1, 2021
Note: Enter debits before credits.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40%2F37d8f2ee-3766-432c-9493-fbb8f98c915b%2Fmc4ghj.png&w=3840&q=75)
Transcribed Image Text:On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and
December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968
Required:
1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as
positive values.)
Change in
Carrying Value
Interest
Cash Paid
Carrying Value
Date
Expense
01/01/2021
06/30/2021
12/31/2021
2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31,
2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your answers to the nearest dollar amount.)
View transaction list
Journal entry worksheet
2
1
3
Record the bond issue on January 1, 2021
Note: Enter debits before credits.
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