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Hi someone can help me to get solutions E10-10B , E10-11B, E10-21B and E10-20B Please E10-10B: Benedict Canyon Company issued $800,000, 10-year, 6% bonds at
Hi someone can help me to get solutions E10-10B , E10-11B, E10-21B and E10-20B Please
E10-10B: Benedict Canyon Company issued $800,000, 10-year, 6% bonds at 103. Instructions (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (b) Suppose the remaining Premium on Bonds Payable was $14,400 on December 31, 2020. Show the balance sheet presentation on this date. (c) Explain why the bonds sold at a price above the face amount. E10-118. Denton Company issued $700,000, 15-year, 7% bonds at 96. Instructions (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017. (b) Suppose the remaining Discount on Bonds Payable was $16,800 on December 31, 2022. Show the balance sheet presentation on this date. (c) Explain why the bonds sold at a price below the face amount. "E10-218: Magna Company issued $400, Interest is payable annually on December 31. Magna uses the straight-line method to amortize bond premium or discount. Instructions Prepare the journal entries to record the following event issuance of the bonds. (b) The payment of interest and the discount amortization on December 31, 2018. 000, 696, 15-year bonds on December 31, 2017 for $388,000. s. (a) The *E10-208: Kirk Company issued $700,000, 4.5%, 30-year bonds on January 1, 2017 at 103. Interest is payable annually on January 1. Kirk uses straight-line amortization for bond premium or discount. Instructions Prepare the journal entries to record the following events. (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2017Step by Step Solution
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