A company issued $2,000,000 of 30-year, 8% callable bonds on April 1, 2011, with interest payable on April 1 and October 1. The fiscal year of the…

wk3sc-d
September 10, 2020
Reply and challenge the findings of your peers. Can Someone help me with this?
September 10, 2020

A company issued $2,000,000 of 30-year, 8% callable bonds on April 1, 2011, with interest payable on April 1 and October 1. The fiscal year of the…

A company issued $2,000,000 of 30-year, 8% callable bonds on April 1, 2011, with interest payable on April 1 and October 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions:

2011

Apr. 1 Issued the bonds for cash at their face amount.

Oct. 1 Paid the interest on the bonds.

2013

Oct. 1 Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.)

Present entries to record the selected transactions described below:

(a) Issued $2,750,000 of 10-year, 8% bonds at 97.

(b) Amortized bond discount for a full year, using the straight-line method.

(c) Called bonds at 98. The bonds were carried at $2,692,250 at the time of the redemption.

Thanks for installing the Bottom of every post plugin by Corey Salzano. Contact me if you need custom WordPress plugins or website design.

The post A company issued ,000,000 of 30-year, 8% callable bonds on April 1, 2011, with interest payable on April 1 and October 1. The fiscal year of the… first appeared on Submit Your Homeworks.


A company issued $2,000,000 of 30-year, 8% callable bonds on April 1, 2011, with interest payable on April 1 and October 1. The fiscal year of the… was first posted on September 10, 2020 at 12:08 am.
©2019 "Submit Your Assignment". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@termpaperswriter.com

 

"Is this question part of your assignment? We Can Help!"

Essay Writing Service