Instructions Chart of Accounts Journal Final Questions 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 $261,693 is combined Dec. 31 with the semiannual interest payment. 20Y2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined Dec. 31 with the semiannual interest payment. 20Y3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Instructions Chart of Accounts Journal Final Questions Instructions Chart of Accounts X Th ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable 611 Gain on Redemption of Bonds 122 Allowance for Doubtful Accounts 126 Interest Receivable EXPENSES 127 Notes Receivable 510 Cost of Merchandise Sold 131 Merchandise Inventory 515 Credit Card Expense 141 Office Supplies 516 Cash Short and Over 142 Store Supplies 521 Sales Salaries Expense 151 Prepaid Insurance 522 Office Salaries Expense 191 Land 531 Advertising Expense 192 Store Equipment 532 Delivery Expense 193 Accumulated Depreciation-Store Equipment 533 Repairs Expense 194 Office Equipment 534 Selling Expenses 195 Accumulated Depreciation Office Equipment 535 Rent Expense Instructions Chart of Accounts Journal Final Questions Instructions X Th Chart of Accounts 195 Accumulated Depreciation Office Equipment 535 Rent Expense 536 Insurance Expense LIABILITIES 537 Office Supplies Expense 210 Accounts Payable 538 Store Supplies Expense 541 Bad Debt Expense 221 Salaries Payable 231 Sales Tax Payable 561 Depreciation Expense-Store Equipment 232 Interest Payable 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 241 Notes Payable 251 Bonds Payable 710 Interest Expense 711 Loss on Redemption of Bonds 252 Discount on Bonds Payable 253 Premium on Bonds Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Instructions Chart of Accounts Journal Final Questions Journal la. Journalize the entries to record the 20Y1 transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST, REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 1b. Journalize the entries to record the 20Y2 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar PAGE 11 Instructions Chart of Accounts Journal Final Questions Journal 16. Journalize the entries to record the 2012 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar. PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 1c. Journalize the entries to record the 2013 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar. merrn 1c. Journalize the entries to record the 2013 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar. PAGE 12 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 Instructions Chart of Accounts Journal Final Questions Journal Final Questions x 5 2. Indicate the amount of the interest expense in (a) 2071 and (b) 2012. Enter amounts as positive number. 6 20Y1: $ 20Y2: $ punts to the nearest dollar. 3. Determine the carrying amount of the bonds as of December 31, 20Y2. PAGE 12 $ ACCOUNTING EQUATION ETS LIABILITIES EQUITY 1 2 3 4