On March 31, 2018, Gardner Corporation received authorization to issue $30,000 of 9 percent, 30-year bonds...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On March 31, 2018, Gardner Corporation received authorization to issue $30,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated March 31, 2018, but the bonds were not issued until April 30, 2018. They were issued at face value. a-c. Record entries issue of bonds and related interest expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of bonds. Note: Enter debits before credits Date General Journal Debit Credit Apr 30, 2018 Record entry Clear entry View general journal < Prev 4 of 6 Next> View transaction list Journal entry worksheet 1 3 Record the semiannual bond interest payment. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30, 2018 Record entry Clear entry View general journal Journal entry worksheet < 1 2 Record the adjusting entry to recognize three months' interest. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2018 Record entry Clear entry View general journal On March 31, 2018, Gardner Corporation received authorization to issue $30,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated March 31, 2018, but the bonds were not issued until April 30, 2018. They were issued at face value. a-c. Record entries issue of bonds and related interest expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of bonds. Note: Enter debits before credits Date General Journal Debit Credit Apr 30, 2018 Record entry Clear entry View general journal < Prev 4 of 6 Next> View transaction list Journal entry worksheet 1 3 Record the semiannual bond interest payment. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30, 2018 Record entry Clear entry View general journal Journal entry worksheet < 1 2 Record the adjusting entry to recognize three months' interest. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2018 Record entry Clear entry View general journal
Expert Answer:
Answer rating: 100% (QA)
A D 1 Date Accounts title and Explanation Debit Credit 2 April 30 ... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
Students also viewed these accounting questions
-
On March 31, 2011, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated...
-
On March 31, 2015, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated...
-
On March 31, 2018, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated...
-
In Exercises find the given higher-order derivative. 2 "(x) = 2 / f(x) X
-
Advertising is critical in the residential real estate industry. Agents are always seeking ways to increase sales through improved advertising methods. A particular agent believes that he can...
-
What laws provide worker benefits?
-
Find the statistical autocorrelation function of the random process \[ U(t)=a_{1} \cos \left(2 \pi v_{1} t-\Phi_{1} ight)+a_{2} \cos \left(2 \pi v_{2} t-\Phi_{2} ight) \] where \(a_{1}, a_{2},...
-
Proud Corporation acquired 80 percent of Stergis Companys voting stock on January 1, 20X3, at underlying book value. The fair value of the noncontrolling interest was equal to 20 percent of the book...
-
Head-First Company plans to sell 5,120 bicycle helmets at $74 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable...
-
Jones Company Edward Jones started the Jones Company Limited (JCL) as a sole proprietorship. It was later incor-- porated; ownership is now 50 percent controlled by Mr. Jones, who is 71 years old,...
-
Do you prefer to buy male stereotypical toys for boys and female stereotypical toys for girls? Why or Why not?
-
Review the Dartmouth Atlas of Health Care 2018 Data Update . analysisthat includes the following: Identify the results for Chicago area of theUnited States (state or region). Analyze the results for...
-
Refer to IRS 2022 Publication 15-T to answer the following questions: Cheyenne is paid $10,009.54 monthly as a regional manager for Really Ritzy Restaurants. She is married filing jointly, according...
-
Choose a textbook chapter from chapters 8-13 in the textbook, Canadian Human Resources Management, that most resonates and applies to you. Explain how this chapter resonates with you while...
-
Review and evaluate the PPE disclosure of your Woolworths Australia which may include using annual report 2 0 2 1 : What range of measures is used to determine amounts for these items in the reports...
-
What does "equal justice under law" mean to you?
-
Stock prices that are stable over time. Indicate that prices are useful indicators of true economic value Indicate that the market is not incorporating new information into current stock prices...
-
In the busy port of Chennai, India, the number of containers loaded onto ships during a 15-week period is as follows: 1. Develop a linear trend equation to forecast container loadings. 2. Using the...
-
Eastern Aviation operated both an airline and several restaurants located near airports. During the year just ended, all restaurant operations were discontinued and the following operating results...
-
Property Management Professionals provides building management services to owners of office buildings and shopping centers. The company closes its accounts at the end of the calendar year. a. The...
-
Thompson Plumbing Inc. is a wholesaler of plumbing accessories. Thompson Plumbing began operations in September of the current year and engaged in the following transactions during September and...
-
Mr. Smith wants to buy a car and is deciding between brands A and B. Car A costs \(\$ 20,000\), and Mr. Smith estimates that at the rate he drives he will sell it after 2 years and buy another of the...
-
Consider a continuous-time environment, with \(e\) as a variable outside of the market. (a) Suppose the final payoff is \(V\left(x_{e}, T ight)=x_{e}(T)\). Find \(V\left(x_{e}, t ight)\). (b) Find a...
-
Mr. Jones was considering a new grapefruit venture that would generate a random sequence of yearly cash flows. He asked his son. Gavin, "People tell me I should use a cost of capital figure to...
Study smarter with the SolutionInn App