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just need answers for whatever is incorrect here. On January 1, Boston Enterprises issues bonds that have a $2,200,000 par value, mature in 20 years,
just need answers for whatever is incorrect here.
On January 1, Boston Enterprises issues bonds that have a $2,200,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record () the issuance of bonds on January 1. (b) the first interest payment on June 30, and (c) the second 3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 96 and (b) 104 d Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much interest will Boston pay (in cash) to the bondholders every six months? Par maturity Semiannual Semiannual Cash Value Rate Interest Payment 2,200,000 9.0%- 138.000 Required 2 > In no pot heden Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $98,000 and semiannual interest payments. Semiannual Period-End Unamortized Premium Carrying Value (0) January 1, issuance $8,071 $106,071 (1) June 30, first payment 7,264 105,264 (2) December 31, second payment 6,457 104,457 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1 (6) The first interest payment on June 30, (c) The second interest payment on December 31. Credit No Date January 01 Dobit 106,0743 1 General Journal Cash Premium on bonds payable Bonds payable 8,074 98.000 OOO OOO 2,133 807 2 June 30 Bond interest expense Premium on bonds payable 2,940 Cash 2,133 807 3 December 31 OOO Bond interest expense Premium on bonds payable Cash 2,940 Quatro Co.Issues bonds dated January 1, 2019, with a par value of $900,000. The bonds' annual contract rate is 10%, and interestis pald semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 8%, and the bonds are sold for $947,165 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare a straight-line amortization table for these bonds. Sed Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Prepare a straight-line amortization table for these bonds. (Round your intermediate calculations to the nearest dollar amount.) Semiannual Interest Period End 01/01/2019 06/30/2019 12/31/2019 06/30/2020 12/31/2020 06/30/2021 12/31/2021 Unamortized Carrying Premium Value 5 47,165 $947,165 40.052 540,052 32,654 932,654 24,960 924 950 16,958 916,958 9095 909090 0 900.000 Step by Step Solution
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