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i need help answering ALL of these not just the first one. 1. On September 1, 2019. Cyril Figgus issued $4,000,000 of 8%, 10-year bonds
i need help answering ALL of these not just the first one.
1. On September 1, 2019. Cyril Figgus issued $4,000,000 of 8%, 10-year bonds when the effective rate was 10%. Interest is payable semi-annually on March 1 and September 1. a. What was the issue price of the bonds? b. Prepare an amortization schedule through September 1, 2021. Figgus has a December 31 year-end, so the schedule should include December 31 for 2019, and 2020. 2. Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.) The December 31, 2018 balance sheet of Initech Co. included the following items: 7.5% bonds payable due December 31, 2026 $6,000,000 Unamortized discount on bonds payable 240,000 The bonds were issued on December 31, 2016 at 95, with interest payable on June 30 and December 31. (Use straight- line amortization.) On April 1. 2019. Wolfe retired $1.200,000 of these bonds at 101 plus accrued interest. 1. On September 1, 2019. Cyril Figgus issued $4,000,000 of 8%, 10-year bonds when the effective rate was 10%. Interest is payable semi-annually on March 1 and September 1. a. What was the issue price of the bonds? b. Prepare an amortization schedule through September 1, 2021. Figgus has a December 31 year-end, so the schedule should include December 31 for 2019, and 2020. 2. Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.) The December 31, 2018 balance sheet of Initech Co. included the following items: 7.5% bonds payable due December 31, 2026 $6,000,000 Unamortized discount on bonds payable 240,000 The bonds were issued on December 31, 2016 at 95, with interest payable on June 30 and December 31. (Use straight- line amortization.) On April 1. 2019. Wolfe retired $1.200,000 of these bonds at 101 plus accrued interest Step by Step Solution
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