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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 dollar.) Required: 1. Bond Issue A a. Were the bond A issued at a premium and/or discount? (For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollar.) 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. Journalize the issuance of bond A on June 1,2020. Journal entry worksheet Record the sale of bonds at a premium on the original issue date. 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 non-current liabilities at July 31,2026 . (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 31,2027. h. Independent of (a) through (g), assume bond A issues were retired on December 1,2027 , at 97 . Record the entries h. Independent of (a) through ( g), assume bond A issues were retired on December 1,2027 , at 97 . Record the entries Journal entry worksheet Record the payment of interest on bonds. Note: Enter debits before credits. Bond Issue B *Adjusted for rounding 2. Bond Issue B I a. Were the bond B issued at a premium and/or discount? Issued at discount Issued at premium 2. Dona issue a. Were the bond B issued at a premium and/or discount? Issued at discount Issued at premium Issued at premium \& discount b. Journalize the issuance of bond B on April 1, 2018. Journal entrv worksheet 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? f. Show how bond B would appear on the balance sheet under non-current liabilities at July 31,2026. g. Calculate the bond B interest expense that would appear on the income statement for the year ended July 31,2027. h. Independent of (a) through (g), assume that bond B issues was retired on December 1,2027 , at 97 . Record the entries. h. Independent of (a) through (g), assume that bond B issues was retired on December 1,2027, at 97. Record the entries. Journal entry worksheet
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