Question
Journalize each company transactions. Company 1 Bond Principal - $100,000 Date of borrowing - Feb 1 2022 Contractual interest rate (per annum) - 4% Interest
Journalize each company transactions.
Company 1
Bond Principal - $100,000
Date of borrowing - Feb 1 2022
Contractual interest rate (per annum) - 4%
Interest payment frequency - Semi-annually
Company’s first balance sheet date after the date of borrowing - Sept 30,2022
Company 2
Bond Principal - $250,000
Date of borrowing - May 1 2022
Contractual interest rate (per annum) - 5%
Interest payment frequency - Quarterly
Company’s first balance sheet date after the date of borrowing - Dec 30 2022
Company 3
Bond Principal - $500,000
Date of borrowing - Oct 1 2022
Contractual interest rate (per annum) - 2.50%
Interest payment frequency - Semi-annually
Company’s first balance sheet date after the date of borrowing - June 30 2023
Company 4
Bond Principal - $400,000
Date of borrowing - Mar 1 2022
Contractual interest rate (per annum) - 4.25%
Interest payment frequency - Quarterly
Company’s first balance sheet date after the date of borrowing - Oct 31 2022
Step by Step Solution
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Company 1 Feb 1 2022 Cash 100000 Bonds Payable 100000 To record the issuance o...
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
14th edition
133879879, 978-0133879872
