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eBook OW Me How Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 20Y1 July 1 Issued $74,000,000
eBook OW Me How Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 20Y1 July 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 20Y1. at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $261.093 is combined with the semiannual interest payment Dec 31 20Y2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $201.803 is combined with the semiannual interest payment Paid the semiannual interest on the bonds. The bond discount amortization of S281,693 is combined with the semiannual interest payment Dec 31 20Y3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $0,420.061 after payment of interest and amortization of discount have been recorded (Record the redemption only) Required: 1. Journalize the entries to record the transactions Pound all amount to the nearest dollar Refer to the Chart of Accounts fore account titles 2. Indicate the amount of the Interest expense in (a) 2011 and (0) 20Y2 3. Determine the carrying amount of the bonds as of December 31, 2012 Check My Work NKSHEETA.. to me he enche 2014 ond renewed or to the Chat Aubre ANKSHEETA ANKSHEET DUR ACCOUNT FOLIO GO GO 1 ONIDA os NKSHEETA MIKSHEETA menor SHEET SENT 0 -0 menor ACCOUGE eBook Show Me How 10. Journalize the entries to record the 20Y3 transactions. Refer to the Chart of Accounts for exact wording of accou JOURNAL DESCRIPTION POST. REF DATE DEBIT 2 3 Final Questions 2. Indicate the amount of the interest expense in (a) 2071 and (b) 2012 Enter amounts as positive number 20Y1 S S 2012 3. Determine the carrying amount of the bonds as of December 31, 2012 s Check My Work
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