Problem 10-9A Wempe Co. sold $3,343,000,8%,10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. Warning Don't show me this message again for the assignment Ok Cancel

Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1)105and (2)96. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	1/1/14
2.	1/1/14

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Prepare amortization tables for issuance of the bonds sold at105for the first three interest payments.

Annual Interest Periods	Interest to Be Paid	Interest Expense to Be Recorded	Premium Amortization	Unamortized Premium	Bond Carrying Value
Issue date	$	$	$	$	$
1
2
3

Prepare amortization tables for issuance of the bonds sold at96for the first three interest payments.

Annual Interest Periods	Interest to Be Paid	Interest Expense to Be Recorded	Premium Amortization	Unamortized Premium	Bond Carrying Value
Issue date	$	$	$	$	$
1
2
3

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Prepare the journal entries to record interest expense for 2014 under both of the bond issuances assuming they sold at: (1)105and (2)96. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	12/31/14
2.	12/31/14

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Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at105at December 31, 2014.

WEMPE Co. Balance Sheet (Partial) December 31, 2014
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
	$
LessAdd:		$

Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at96at December 31, 2014.

WEMPE Co. Balance Sheet (Partial) December 31, 2014
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
	$
LessAdd:		$

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