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Mahalo Boat Adventure Inc, has a July 31 year-end. It showed the following partial amortization schedules regarding two bond issues: Bond issue A Adjusted for
Mahalo Boat Adventure Inc, has a July 31 year-end. It showed the following partial amortization schedules regarding two bond issues: Bond issue A "Adjusted for rounding (For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollac) Required: 1. Bond Issue A a. Were the bond A issued at a premium and/or discount? Issued at discount issued at premium Issued at premium \& discount b. Joumalize the issuance of bond A on June 1, 2023. Journal entry worksheet Record the sale of bonds at a premium on the original issue date. Note: Enter debits before credits. 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? 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 non-current liabilities at July 31, 2029, (Enter all amounts as positive values.) 9. Calculate the total bond A interest expense that would appear on the income statement for the year ended July 31,2030 . h. Independent of (a) through (g), assume bond A issues were retired on December 1, 2030, at 97. Record the entries Journal entry worksheet Bond Issue B "Adjusted for rounding 2. Bond Issue B a. Were the bond B issued at a premium and/or discount? Issued at discount Issued at premium Issued at premlum \& discount b. Journalize the issuance of bond B on April 1, 2021. c. What is the contract interest rate for the issue bond B? d. Interest of how much is paid how often for bond B issued? e. What is the term of bond B issue? 9. Calculate the bond 8 interest expense that would appear on the income statement for the year ended July 31,2030. h. Independent of (a) through (g). assume that bond B issues was retired on December 1,2030 , at 97 . Record the entries. Journal entry worksheet 5 Record the interest paid on bonds
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