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Requirement 1. Joumalize the transactions of Laroche Communications Inc (Record debits first, then credits. Exclude explanations from any Journal entries.) January 1, 2018 Issued $8,000,000
Requirement 1. Joumalize the transactions of Laroche Communications Inc (Record debits first, then credits. Exclude explanations from any Journal entries.) January 1, 2018 Issued $8,000,000 of 8%, 10-year bonds payable at 94. Interest payment dates are July 1 and January 1 Journal Entry Date Accounts Debit Credit 2018 Jan 1 July 1, 2018: Paid semiannual interest and amortized bond discount by the straight-line method on the 8% bonds payable. Journal Entry Date 2018 Accounts Debit Credit Jul 1 December 31, 2018 Accrued semiannual interest expense and amortized bond discount by the straight-line method on the 8% bonds payable Journal Entry Date 2018 Accounts Credit Debit Dec 31 January 1, 2019: Paid semiannual interest Journal Entry Accounts Date Debit Credit 2019 Jan 1 January 1, 2028 Paid the 8% bonds at maturity Journal Entry Date Accounts Debit Credit 2028 Jan 1 Requirement 2. Al December 31, 2018, after all year-end adjustments have been made determine the carrying amount of Laroche's bonds payable, net At December 31, 2018, after all year-end adjustments, the carrying amount of the bonds payable is $ Requirement 3. For the six months onded July 1, 2018 determine the following for Laroche: a. Interest expense and b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid? For the six months ended July 1 2018 determine the following 3. Interest expenses b. Cash Interest paid is 5 What causes interest expense on the bonds to exceed cash interest pald
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