Question
It appears that I'm stuck at the 2nd question, I was unable to upload the work that I've already completed. Could you show how you
It appears that I'm stuck at the 2nd question, I was unable to upload the work that I've already completed. Could you show how you get the answers and what calculations that you used to acquire for each. Thanks
Hillside issues $1,400,000 of 5%, 15-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,713,594.
Required:
1. Prepare the January 1, 2016, journal entry to record the bonds issuance.
2. (a) For each semiannual period, complete the table below to compute the cash payment.
2. (b) For each semiannual period, complete the table below to compute the straight-line premium amortization.
2. (c) For each semiannual period, complete the table below to compute the bond interest expense.
3. Complete the below table to compute the total bond interest expense to be recognized over the bonds' life.
4. Prepare the first two years of an amortization table using the straight-line method
5. Prepare the journal entries to record the first two interest payments.
I'm not sure how to upload them for viewing.
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