Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can anyone pls help me solve this question. thank you Current Attempt in Progress Mo's Motor Corp. issued $430,000 of 4%, 5-year bonds on April
can anyone pls help me solve this question. thank you
Current Attempt in Progress Mo's Motor Corp. issued $430,000 of 4%, 5-year bonds on April 1, 2021. Interest is payable serni-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Mo's Motor Corp. Bond Discount Amortization Schedule Amortization Interest Interest Interest Period Payment Expense ul-Apr. 2021 01-Oct. 2021 $8.600.00 $10,279.58 01-Apr. 2022 8.600.00 10.321.57 01-Oct. 2022 8.600.00 10.364.61 01. Apr. 2023 8.600.00 10.408.72 $1.679.58 1.721.57 1.764,61 1.808.72 Bond Amortized Cost $422.183.06 412.862.64 414.584.21 416.348.82 418.157.54 Were the bonds issued at a discount or at a premium? The bonds were issued at a What is the bond's face value? Face value $ e Textbook and Media List of Accounts N Question Part Score What will be the bond's amortized cost at the maturity date? Amortized cost $ e Textbook and Media List of Accounts -0. Prepare the journal entry to record the payment of interest on Oct 1, 2021? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 e Textbook and Media Assistance Used e Textbook 1 e Textbook 2 List of Accounts --116 Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Debit Credit Date Account Titles and Explanation Apr. 1, 2023 e Textbook and Media List of Accounts Question Part Score --/1.17 Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 96. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the Prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 96. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Date Account Titles and Explanation Debit Credit Apr. 1, 2023 e Textbook and Media List of Accounts - 1.17 Question Part ScoreStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started