mouse of house a rodent property rental issues two bonds to purchase properties record the journal entries for bond
Dose 00000 s \ ACCT 302 - Chapter 14 Team Problem Spring 2020 Problem: 15ps) Mouse, a rodent property rental agency, issued two bonds to purchase properties. The first bond, Bond A is a 3-yen 5 $100.000 bond issued on March 1, 20x0 which pays interest semi-annually on February 28 and August 31 each year, Bond T e 101. Bond B is a 5-year, 10%, $80,000 bond issued on April 30,20x0 which pays interest each June 30 and December 31. Bond Bis callable at 99. The market rate for similar bonds is 8%. a) Record the journal entries for the issuance of Bonds A and B. DJ Record the journal entry for Bond A at August 31 and December 31, 20x0. c) Record the journal entry for Bond B for June 30 and December 31, 20x0. d on January 1, 20x1, House of Mouse calls Bond A. Record the journal entry e) On July 1, 20x0, House of Mouse determined it would not be able to pay off Bond B. In settlement of Bond B. House of Mouse signed over land with a carrying value of $75,000 and a fair value of $80,000. Problem 2: (5 pls) On January 1, 2000, Ollie, Co. issues a series of bonds. The bonds pay no interest, but bondholders receive $200,000 at the et of each year for 5 years. The market rate at the time of issues is 6%. a) Record the issuance of bonds on January 1, 2000. b) Create the interest amortization table related to this bond. c) Record the December 31, 2000 journal entry related to this bond. d) Ignore prior answers and assume Ollie Co elects to use the fair value method for long-term debt. If the market in rate on December 31, 2000 is 8%, record any necessary journal entry for Ollie Co at the end of the year. Assunt bond payment was already issued. roblem 3: (4 pts) Number 1 2018 Charlie Inc issued bonds to purchase a plot of agricultural land to be used for growing medica mar 2018 The bond Dose 00000 s \ ACCT 302 - Chapter 14 Team Problem Spring 2020 Problem: 15ps) Mouse, a rodent property rental agency, issued two bonds to purchase properties. The first bond, Bond A is a 3-yen 5 $100.000 bond issued on March 1, 20x0 which pays interest semi-annually on February 28 and August 31 each year, Bond T e 101. Bond B is a 5-year, 10%, $80,000 bond issued on April 30,20x0 which pays interest each June 30 and December 31. Bond Bis callable at 99. The market rate for similar bonds is 8%. a) Record the journal entries for the issuance of Bonds A and B. DJ Record the journal entry for Bond A at August 31 and December 31, 20x0. c) Record the journal entry for Bond B for June 30 and December 31, 20x0. d on January 1, 20x1, House of Mouse calls Bond A. Record the journal entry e) On July 1, 20x0, House of Mouse determined it would not be able to pay off Bond B. In settlement of Bond B. House of Mouse signed over land with a carrying value of $75,000 and a fair value of $80,000. Problem 2: (5 pls) On January 1, 2000, Ollie, Co. issues a series of bonds. The bonds pay no interest, but bondholders receive $200,000 at the et of each year for 5 years. The market rate at the time of issues is 6%. a) Record the issuance of bonds on January 1, 2000. b) Create the interest amortization table related to this bond. c) Record the December 31, 2000 journal entry related to this bond. d) Ignore prior answers and assume Ollie Co elects to use the fair value method for long-term debt. If the market in rate on December 31, 2000 is 8%, record any necessary journal entry for Ollie Co at the end of the year. Assunt bond payment was already issued. roblem 3: (4 pts) Number 1 2018 Charlie Inc issued bonds to purchase a plot of agricultural land to be used for growing medica mar 2018 The bond
