Banjo Education Corp. issued a 4%, $180,000 bond that pays interest semiannually each June 30 and...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656a974efea9_5086656a97485f1a.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656a975943fe_5096656a97532a5d.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656a9764084b_5096656a975d4adb.jpg)
Transcribed Image Text:
Banjo Education Corp. issued a 4%, $180,000 bond that pays interest semiannually each June 30 and December 31. The date of Issuance was January 1, 2020. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.'s year-end is December 31. Use TABLE 14A.1 and TABLE 14A.2. (For all the requirements, Use appropriate factor(s) from the tables provided.) Required: Preparation Component: 1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.) Issue price of the bondi 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the sale of bonds on original issue date. Note: Enter debits before credits. Date January 01, 2020 General Journal Debit Credit Record entry Clear entry View general journal Banjo Education Corp. issued a 4%, $180,000 bond that pays interest semiannually each June 30 and December 31. The date of Issuance was January 1, 2020. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.'s year-end is December 31. Use TABLE 14A.1 and TABLE 14A.2. (For all the requirements, Use appropriate factor(s) from the tables provided.) Required: Preparation Component: 1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.) Issue price of the bondi 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the sale of bonds on original issue date. Note: Enter debits before credits. Date January 01, 2020 General Journal Debit Credit Record entry Clear entry View general journal
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Accelerated Depreciation Koffmans Warehouse purchased a forklift on January 1, 2010, for $6,000. The forklift is expected to last for five years and have a residual value of $600. Koffmans uses the...
-
The April 2000 issue of the Journal of Accountancy contains an article by Lawrence B. Macgregor Serval entitled "The Planning Peril Instructions Read the article and answer the following questions....
-
Situation During 2007, one of the customers of Klote Company declared bankruptcy. This customer had been a major purchaser of Klotes products and had owed $40,000 on account to Klote (a material...
-
Debit Credit Cash 15,000 Accounts Receivable 30,000 Allowance for Bad Debts 500 Inventory 500 Land 10,000 Buildings 20,000 Acc. Dep Bldg. 1,000 Equipment 10,000 ACC. Dep. Equip. 2,000 Accounts...
-
Suponga que una empresa fabrica el siguiente producto con elsiguiente nmero de defectos. Construya un grfico p para ver si elproceso est bajo control. n = 100MuestraDefectuosoMuestraDef 2 answers
-
1. Suppose you are analyzing Firm X, which currently has total assets of $650M, 35% of which is debt. The company resides in an industry with an average levered beta of 1.8 and an industry average...
-
Sportsman Shoes has been a leader in the shoe industry for more than 30 years. Sportsman manufactures and sells athletic shoes for all types of sports. The company has pursued a low-cost strategy to...
-
Video Example Find f'(x) if f(x) = Solution Since In (18x1). f(x): = [In(8x) In(-8x) it follows that f'(x) = if x > 0 if x < 0 1 (8x) if x > 0 = dx d -(-8x) = = if x < 0 dx Thus, f'(x) = for all x 0.
-
Jane is on her 3rd placement. She must answer the engagement of the skate holders in the service/ 1.Engaging educators a) How do educators contribute to the QIP on a regular, ongoing basis? b)How are...
-
a bat sends 1 1 0 , 0 0 H z ultrasound signal out towards a n insenct 1 3 0 m away. i f the temperature i s 2 2 degrees celcius, how long will i t take t o hear the return signal? what i s the...
-
On 1 July 2005 Neil Chen purchased a block of land (1004m2 ) with a 3 bed-room house on it for $700,000. The house was rented out immediately since 1 July 2005 till June 2017. As the relevant...
-
Diversified Industries plc (DI) is a business that has interests in engineering, caravan manufacturing and a chain of shops selling car accessories. DI has recently been approached by the directors...
-
Russell Ltd installs and services heating and ventilation systems for commercial premises. The businesss most recent statement of financial position and income statement are as follows: The business...
-
The following is the statement of financial position (in abbreviated form) of Projections Ltd as at the end of this year: The following plans have been made for next year: 1 Revenue is expected to...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App