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x Wus ke Assignment Gradebook ORION edugen.wileyplus.com/edgervituni Downloadable eTextbook ment 06:30 1 / Hamining CALCULATOR PRINTER VERION HACK Question 1 Nash Electric sold 2,830,000,3%, 10-year bonds on January 1, 2017. The bonds were dated January 1 and pay interest annually on January 1. Nash Hectric ses the straight-line method to amortize bond premium or discount. The bonds were sold at 101. Assume the country allows the use of straight line amortization for bond premium and discounts Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Credit account titles are automatically indented when amount is ent ved Danoladent manually.) (pate Account Titles and Explanation Jan 1, 2017 Cash Debil Credit 2830000 Bonds Payable 2830000 Prepare a bond premium amortization schedule for the first 4 interest periods. Annual Interest Expense Interest periods Interest to be paid to Be Recorded Issue date Premium Amortization Hond Carrying Value 1 2 Prepare the journal entries for interest and the amortization of the premium in 2017 and 2015. (Credit account titles are automatically indented when arrunt is enteri Do not indent manually) Dett Date Account Tities and Explanation 2017 Dec. 31 omi Jan ! Dec. 31 Show the statement of financial position presentation of the bond liability at December 31, 2018. NASH ELECTRIC Statement of Financial Position Question A CALCULATOR PRUNTER VERTON BACK Question 1 Nash Electric sold 2,830.000, 8%, 10-year bonds on January 1, 2017. The bonds were dated January 1 and pay interest annually on January 1. Nashi Electric ses the straight-line method to amortize bond premium or discount. The bonds were sold at 101. Assume the country allows the use of straight line amortization for bond premium and discounts Prepare the Journal entry to record the issuance of the bonds on January 1, 2017. (Credit account titles are automatically indented when amount is ented. De sot indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2017 Cash 2830000 Bonds Payable 2830000 Prepare a bond premium amortization schedule for the first 4 interest periods Annual Interest Expense Interest Periods Interest to Be Paid to Be Recorded Issue date Die Premium Amortization Bond Carrying Value 1 3 4 Prepare the journal entries for interest and the amortization of the premium in 2017 and 2018. (Credit account titles are autor Do not indent manually.) Date Account Titles and Explanation 2017 Debit Credit Dec. 31 2018 Jan. 1 Dec. 31 Show the statement OT position presentation of the bond liability at December 31, 20 NASH ELECTRIC Statement of Financial Position V V
