Carlisle Corp. issued the following bonds at a premium: Date of issue and sale .........April 1, 20-1

Question:

Carlisle Corp. issued the following bonds at a premium:

Date of issue and sale .........April 1, 20-1

Principal amount ...............$570,000

Sale price of bonds ............104

Denomination of bonds ........$1,000

Life of bonds ....................20 years

Stated rate: ......................10%,

Payable semiannually on September 30 and March 31

Prepare journal entries for:

a. Issuance of the bonds at a premium.

b. Interest payment and premium amortization on the bonds on September 30.

c. Year-end adjustment on the bonds.

If an amount box does not require an entry, leave it blank.

GENERAL JOURNAL

Carlisle Corp. issued the following bonds at a premium:
Date of

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Sep 11, 2016 11:46 AM

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Carlisle Corp. issued the following bonds at a premium: Date of issue and sale .........April 1, 20-1

Question:

DATE ACCOUNT TITLE I DOC. I POST. | DEBIT CREDIT No. 1 REF a. 20-1 Apr. 1 s b. Sept. 30 9 c. Dec. 31 0 0

Step by Step Answer:

DATE ACCOUNT TITLE DOC POST DEBIT CREDIT NO REF 1 a 201 Apr 1 Cash 592800 2 Bonds Payable 570000 3 P...View the full answer

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