MOE Ch 10 Graded Practice Sed Help Save 6 Exit Submit Check my work 5 Exercise 10-11 Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4 142 On January 1, 2019. Shay Company issues $410,000 of 12%. 20-year bonds. The bonds sell for $399 750 Six years later, on January 2025, Shay retires these bonds by buying them on the open market for $430,500. All interest is accounted for and paid through December 31, 2024, the day before the purchase. The straight line method is used to amortize any bond discount 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2019 through December 20247 3. What is the carrying (book) value of the bonds as of the close of business on December 31, 20247 4. Prepare the journal entry to record the bond retirement Complete this question by entering your answers in the tabs below. Raqi and 2 Reg Reg4 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2019, through December 31, 20242 5 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2019, through December 31 2024? 3. What is the carrying (book) value of the bonds as of the close of business on December 31, 2024? 4. Prepare the journal entry to record the bond retirement 1.42 points Complete this question by entering your answers in the tabs below. Book Req 1 and 2 Reg 3 Reg 4 Paint References 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2019, through December 31, 20242 1. Amount of discount Amortization of discount 2 Fleu 1 and 2 Req3 > Activate Wind M06 Ch 10 Graded Practice 6 Help Save & Ex Submit Check my word 5 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2019through December 31, 20242 3. What is the carrying (book) value of the bonds as of the close of business on December 31, 2024? 4. Prepare the journal entry to record the bond retirement 1.42 points Complete this question by entering your answers in the tabs below. Hint Req 1 and 2 Ri Reg4 Print References What is the carrying (book) value of the bonds as of the close of business on December 31, 20247 Bonds Par value Remaining discount Carrying value Activate Window Help Save & Che 5 Req 1 and 2 Req3 Reg 4 Prepare the journal entry to record the bond retirement ats View transaction list ook Journal entry worksheet Print
