Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please do the following instructions in a very clear way and with little explantion sobthat i can understand easily. thank you ! Class Exercise-Chapter 10

please do the following instructions in a very clear way and with little explantion sobthat i can understand easily. thank you ! image text in transcribed
Class Exercise-Chapter 10 Regal Industries issued 60,000 $ 100 face value of 996, 10-year bonds on April 1 2000. The coupon interest payments are paid on semi-annually 1 Assuming that all the bonds were issued at par: a. Prepare the journal entry to record issuance of the bonds on April 1, 2000. b. Prepare the journal entries on first payments on September 30, 2000 c. Prepare the Adjusting entries for the year ended of December 31, 2000. d. Show the extract of the liabilities shown of Regal at December 31, 2000, with respect to these bonds? 2 Assuming that all the bonds were issued at $95: a. Prepare the journal entry to record issuance of the bonds on April 1, 2000 b. Prepare the journal entries on first payments on September 30, 2000. c. Prepare the Adjusting entries for the year ended of December 31, 2000. d. Show the extract of the liabilities shown of Regal at December 31, 2000, with respect to these bonds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Acca F7 Financial Reporting Practice And Revision Kit

Authors: BPP Learning Media

1st Edition

1472726898, 978-1472726896

More Books

Students also viewed these Accounting questions