Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $330,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $354,549. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal

Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $330,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $354,549. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated interest rate of 12% payable semi-annually on July 1 and January 1. The bonds were sold to yield 10%. Assuming the bonds were sold at 107.732, what is the selling price of the bonds? Were they issued at a discount or a premium?
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semiannually. What is the journal entry to record the issuance of the bonds?
[The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $420,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $451,244. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet < 1 2 3 Record the second semiannual interest payment. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit
Required Information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City Issues $380,000 of 8% bonds, due in 15 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 $349,051. 2. How will the bond Issuance on January 1, 2024, affect the financial statements? 3. How will the first two semiannual Interest payments on June 30, 2024, and December 31, 2024, affect the financial statements? Complete this question by entering your answers in the tabs below. Req 2 Req 3A Assets Req 38 How will the bond issuance on January 1, 2024, affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign. Balance Sheet Liabilities Stockholders' Equity Common Stock Retained Earnings Revenues Income Statement Expenses Net Income
Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $420,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $451,244. 1. How will the bond issuance on January 1, 2024, affect the financial statements? Complete this question by entering your answers in the tabs below. Req 1 How will the bond issuance on January 1, 2024, affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign. Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Common Stock Retained Earnings Revenues Expenses Net Income
[The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $420,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $451,244. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet
[The following information applies to the questions displayed below.] show calculations On January 1, 2024, Splash City issues $400,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.Assuming the market interest rate on the issue date is 7%, the bonds will issue at $436,785. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024.
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Required Information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City Issues $500,000 of 9% bonds, due in 20 years, with Interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $457,102. 2. How will the bond Issuance on January 1, 2024, affect the financial statements? 3. How will the first two semiannual Interest payments on June 30, 2024, and December 31, 2024, affect the financial statements? Complete this question by entering your answers in the tabs below. Req 2 Req 3A How will the first payment on June 30, 2024, affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign. Balance Sheet Req 38 Assets Liabilities Stockholders' Equity Common Stock Retained Earnings Revenues Income Statement Expenses Net Income
Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $490,000 of 8% bonds, due in 15 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 $450,092. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet < 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal
Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $310,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $283,405. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list View journal entry worksheet No 1 Date January 01, 2024 Cash General Journal Debit 283,405 Credit ging
Required information [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $440,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $402,252. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit