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Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End Danuary 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8, 291 7,462 6,633 Carrying Value $117, 291 116,462 115,633 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. X Answer is not complete. No Date General Journal Debit Credit 1 January 01 Cash 117,201 Bonds payable 109,000 O June 30 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 3 December 31 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 V

Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End Danuary 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8, 291 7,462 6,633 Carrying Value $117, 291 116,462 115,633 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. X Answer is not complete. No Date General Journal Debit Credit 1 January 01 Cash 117,201 Bonds payable 109,000 O June 30 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 3 December 31 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 V

FINANCIAL ACCOUNTING
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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Exerclse 10-8 Stralght-LIne: Recording bond Issuance and premlum amortizatlon LO P3 Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $109.000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8, 291 7,462 6,633 Carrying Value $117, 291 116,462 115,633 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. X Answer is not complete. No Date General Journal Debit Credit 1. January 01 Cash 117,291 V Bonds payable 109.000 June 30 Bond interest expense 4,076 V Premium on bonds payable 829 O Cash 4,905 3 December 31 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 O
Transcribed Image Text:Exerclse 10-8 Stralght-LIne: Recording bond Issuance and premlum amortizatlon LO P3 Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $109.000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Premium $8, 291 7,462 6,633 Carrying Value $117, 291 116,462 115,633 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. X Answer is not complete. No Date General Journal Debit Credit 1. January 01 Cash 117,291 V Bonds payable 109.000 June 30 Bond interest expense 4,076 V Premium on bonds payable 829 O Cash 4,905 3 December 31 Bond interest expense 4,076 O Premium on bonds payable 829 O Cash 4,905 O
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