A new company began operating on January 1, 2017 and employed 12 people The company hasa 5-day work week and all employees work 8-hour days The company adopted an employee compensation policy that provides all of its employees with 2-weeks of paid vacation. Each employee must work the first year in full to be eligble for paid vacation in 2018 After that point, if the employee leaves the company the employee is still entitled to 1 2-weeks vacation pay. The following data applies in 2018 YEAR HOURLY RATE 2017 $18.00 2018 $20.50 tof VACATION DAYS TAKEN Required Prepare all journal entries related to compensated absences for both years On January 1, 20118, Masterweave Industries issued S80,000 of 8% bonds, dated lanuary 1 Interest is payable semi-annualy on July 1 and January 1. The first payment occurs on July 1, 2018. The bonds matre in two years The market yield for bonds of similar.isk and maturitya.3o Required Prepare the journal entry to recond the issue of the bond On January 1, 2018, Anacon Company issued $100,000 of 12% bonds, dated January 1 The issue price of the bonds is 103,470 Interest is payable annually starting on lanuary 1, 2019 The bonds mature in two years The market yield for bonds of similar risk and maturity is 10% Required: Prepare the bond amortization schedule (the present value of future cash fows of $103,470 is provided) On January 1, 2018 Cisco issued S300,000, 12 % bonds, dated January 1 The company issued the bonds at par value. The bonds pay interest annually, starting lanuary 1, 20159 Required Prepare the journal entries relative to this bond on December 31, 2018 and January 1 2019 A new company began operating on January 1, 2017 and employed 12 people The company hasa 5-day work week and all employees work 8-hour days The company adopted an employee compensation policy that provides all of its employees with 2-weeks of paid vacation. Each employee must work the first year in full to be eligble for paid vacation in 2018 After that point, if the employee leaves the company the employee is still entitled to 1 2-weeks vacation pay. The following data applies in 2018 YEAR HOURLY RATE 2017 $18.00 2018 $20.50 tof VACATION DAYS TAKEN Required Prepare all journal entries related to compensated absences for both years On January 1, 20118, Masterweave Industries issued S80,000 of 8% bonds, dated lanuary 1 Interest is payable semi-annualy on July 1 and January 1. The first payment occurs on July 1, 2018. The bonds matre in two years The market yield for bonds of similar.isk and maturitya.3o Required Prepare the journal entry to recond the issue of the bond On January 1, 2018, Anacon Company issued $100,000 of 12% bonds, dated January 1 The issue price of the bonds is 103,470 Interest is payable annually starting on lanuary 1, 2019 The bonds mature in two years The market yield for bonds of similar risk and maturity is 10% Required: Prepare the bond amortization schedule (the present value of future cash fows of $103,470 is provided) On January 1, 2018 Cisco issued S300,000, 12 % bonds, dated January 1 The company issued the bonds at par value. The bonds pay interest annually, starting lanuary 1, 20159 Required Prepare the journal entries relative to this bond on December 31, 2018 and January 1 2019
