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silviya23
problem_10-9a.pdf
1. 1/1/14
2. 1/1/14
1. 12/31/14
2. 12/31/14
Print by: Khaled Alqahtani 54012.201522: ACCT G101 Financial Accounting CRN 54012 Fall 2015 / Chapter 10B Homework (Bonds)
Wempe Co. sold $3,000,000, 8%, 10year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straightline amortization on bond premiums and discounts. Financial statements are prepared annually.
Your answer is correct. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 103 and (2) 98. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Your answer is incorrect. Try again. Prepare amortization tables for issuance of the bonds sold at 103 for the first three interest payments.
Annual Interest Periods
Interest to Be Paid
Interest Expense to Be Recorded
Premium Amortization
Unamortized Premium
Bond Carrying Value
Issue date
$ $ $ $ $
1
2
3
Prepare amortization tables for issuance of the bonds sold at 98 for the first three interest payments.
Annual Interest Periods
Interest to Be Paid
Interest Expense to Be Recorded
Discount Amortization
Unamortized Discount
Bond Carrying Value
Issue date
$ $ $ $ $
1
2
3
Your answer is incorrect. Try again. Prepare the journal entries to record interest expense for 2014 under both of the bond issuances assuming they sold at: (1) 103 and (2) 98. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Your answer is incorrect. Try again. Show the longterm liabilities balance sheet presentation for issuance of the bonds sold at 103 at December 31, 2014.
Cash 3090000
Bonds Payable 3000000
Premium on Bonds Payable 90000
Cash 2940000
Discount on Bonds Payable 60000
Bonds Payable 3000000
Question Attempts: Unlimited
$
: $
Show the longterm liabilities balance sheet presentation for issuance of the bonds sold at 98 at December 31, 2014.
$
: $
