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if i could get my work checked and the correct answers for a,b,c, and d that would be awesome. Current Attempt in Progress The following
if i could get my work checked and the correct answers for a,b,c, and d that would be awesome.
Current Attempt in Progress The following information is taken from Oriole Corp's balance sheet at December 31, 2021. Current liabilities Interest payable $ 96,800 Long-term liabilities Bonds payable (4%, due January 1, 2032) $2,420,000 Less Discount on bonds payable 24,200 2.395.800 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Oriole uses straight-line amortization for any bond premium or discount From December 31, 2021, the bonds will be outstanding for an additional 10 years (120 months). tai (b Journalize the payment of bond interest on January 1, 2022 Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2022 Assume on January 1, 2023, after paying interest that Oriole Corp. calls bonds having a face value of $484,000. The call price is 102. Record the redemption of the bonds Prepare the adjusting entry at December 31, 2023. to amortize bond discount and to accrue interest on the remaining bonds Osore attomatically inacted when amount is entire. Do not indent manual No. Date Account Titles and Explanation Debit Credit al Jan 1 2022 Interest Expense 96800 Cash 96800 (6) Dec 31 2022 Interest Expense 99220 Discount on Bonds Payable 2420 Interest Payable 96800 lo Jan 1 2023 Bonds Payable 484000 Loss ont Bond Redemption 9680 Decount on Bonds Payable 93680 O 71 Mostly sunny (d) Dec 31 2023 Interest Expense Discount on Bonds Payable Interest Payable Step by Step Solution
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