In an Excel Document, each question on different tabs/sheets.

Part One: Carrying value, Aug. 31, Year 2: $256,937.50

BONDS ISSUED AT A PREMIUM Wang Corporation issued the following bonds at a premium:

Date of issue and sale:

March 1, 20-1

Principal amount:

$250,000

Sale price of bonds:

103

Denomination of bonds:

$500

Life of bonds:

20 years

Stated rate:

8%, payable semiannually on August 31 and February 28

1. Prepare journal entries for:

• (a) Issuance of the bonds at a premium.
• (b) Interest payment and premium amortization on the bonds on August 31, 20-1.
• (c) Year-end adjustment on the bonds for 20-1.
• (d) Reversing entry for the beginning of 20-2.
• (e) Interest payments and premium amortization on the bonds for 20-2 (February 28 and August 31).

2. Calculate the carrying value of the bonds on August 31, 20-2.

Part Two: Carrying value, Sept. 30, Year 2: $579,600

BONDS ISSUED AT A DISCOUNT Brandon, Inc., issued the following bonds at a discount:

Date of issue and sale:

April 1, 20-1

Principal amount:

$600,000

Sale price of bonds:

96

Denomination of bonds:

$1,000

Life of bonds:

10 years

Stated rate:

7%, payable semiannually on September 30 and March 31

Prepare journal entries for:

• (a) Issuance of the bonds at a discount.
• (b) Interest payment and discount amortization on the bonds on September 30, 20-1.
• (c) Year-end adjustment on the bonds for 20-1.
• (d) Reversing entry for the beginning of 20-2.
• (e) Interest payments and discount amortization on the bonds for 20-2 (March 31 and September 30).

Calculate the carrying value of the bonds on September 30, 20-2.

Prepare the bonds payable section of a partial balance sheet as of September 30, 20-2.

In an Excel Document, each question on different tabs/sheets. Part One: Carrying value, Aug. 31, Year 2: $256,937.50 BONDS ISSUED AT A PREMIUM Wang Corporation issued the following bonds at a premium: Date of issue and sale: March 1, 20-1 Principal amount: $250,000 Sale price of bonds: 103 Denomination of bonds: $500 Life of bonds: 20 years Stated rate: 8%, payable semiannually on August 31 and February 28 1. Prepare journal entries for: o (a) Issuance of the bonds at a premium. o (b) Interest payment and premium amortization on the bonds on August 31, 20-1. o (c) Year-end adjustment on the bonds for 20-1. o (d) Reversing entry for the beginning of 20-2. o (e) Interest payments and premium amortization on the bonds for 20-2 (February 28 and August 31). 2. Calculate the carrying value of the bonds on August 31, 20-2. Part Two: Carrying value, Sept. 30, Year 2: $579,600 BONDS ISSUED AT A DISCOUNT Brandon, Inc., issued the following bonds at a discount: Date of issue and sale: April 1, 20-1 Principal amount: $600,000 Sale price of bonds: 96 Denomination of bonds: $1,000 Life of bonds: 10 years Stated rate: 7%, payable semiannually on September 30 and March 31 1. Prepare journal entries for: o (a) Issuance of the bonds at a discount. o (b) Interest payment and discount amortization on the bonds on September 30, 201. o (c) Year-end adjustment on the bonds for 20-1. o (d) Reversing entry for the beginning of 20-2. o (e) Interest payments and discount amortization on the bonds for 20-2 (March 31 and September 30). 2. Calculate the carrying value of the bonds on September 30, 20-2. 3. Prepare the bonds payable section of a partial balance sheet as of September 30, 20-2