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Mahalo Boat Adventure Inc. has a July 3 1 year - end. It showed the following partial amortization schedules regarding two bond issues: Bond Issue
Mahalo Boat Adventure Inc. has a July yearend. It showed the following partial amortization schedules regarding two bond issues: Bond Issue A Period Ending A Cash Interest Paid $times times B Period Interest Expense Etimes times C Amort. ABD Unamortized Balance E Carrying Value $D June $ $ Dec. $ $ $ Dec. June Dec. June Dec. June Totals $ $ $ Adjusted for rounding For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollar. Required: Bond Issue A a Were the bond A issued at a premium andor discount? multiple choice Issued at discount Issued at premium Issued at premium & discount b Journalize the issuance of bond A on June c What is the contract interest rate for the issue bond A d Interest of how much is paid how often for bond A issued? e What is the term of bond A issue? f Show how bond A would appear on the balance sheet under noncurrent liabilities at July Enter all amounts as positive values. g Calculate the total bond A interest expense that would appear on the income statement for the year ended July h Independent of a through g assume bond A issues were retired on December at Record the entries Bond Issue B Period Ending A Cash Interest Paid $times times B Period Interest Expense Etimes times C Amort. ABD Unamortized Balance E Carrying Value $D Apr. $ $ Jul. $ $ $ Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr.
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