E15-15 Refer to the bond situation of Mark IV Industries in Exercise 15-14. Assume Mark IV Industries
Question:
E15-15 Refer to the bond situation of Mark IV Industries in Exercise 15-14. Assume Mark IV Industries issued the bonds at the advertised price and that the company uses the effective- interest amortization method and reports financial statements on a calendar-year basis. Required 1. Journalize the following bond transactions of Mark IV Industries. Show all amounts in thousands of dollars. Explanations are not required. 2000 Mar. 31 Sep. 30 Dec. 31 Issuance of the bonds. Payment of interest expense and amortization of discount on bonds payable. Accrual of interest expense and amortization of discount on bonds payable. 2. What is Mark IV Industries' carrying amount of the bonds payable at
a. September 30, 2000?
b. December 31, 2000?
c. March 31, 2001?
Step by Step Answer:
Accounting
ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones