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Ch 10 Homework i Saved Help Save & Exit Submit Check my work 4 Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194. 2.5 points Required: 1. Prepare the January 1, 2018, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of an amortization table using the straight-line method 5. Prepare the journal entries to record the first two interest payments. eBook Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A to 20 Reg 3 Reg 4 Reg 5 Prepare the January 1, 2018, journal entry to record the issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,300,000 cash on January 1, 2018 at an issue price of $1,591,194. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2018 For each semiannual period, complete the table below to calculate the cash payment, straight-line premium amortization and bond intere expense. (Round "Unamortized Premium" to whole dollar and use the rounded value for part 4 & 5.) Par (maturity) value Annual Rate Year Semiannual cash interest payment 11 Bond price Par (maturity value) Premium on Bonds Payable Semiannual periods Straight-line premium amortization Semiannual cash payment Premium amortization Bond interest expense Reg 1 Req 2A to 20 Reg 3 Reg 4 Reg 5 Complete the below table to calculate the total bond interest expense to be recognized over Total bond interest expense over life of bonds: Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 20 Req3 Req 4 Req 5 Prepare the first two years of an amortization table using the straight-line method Semiannual Period- Unamortized Carrying End Premium Value 01/01/2018 06/30/2018 12/31/2018 06/30/2019 12/31/2019 Reg 3 Reg 5 Reg 1 Req 2A to 20 Reg 3 Reg 4 Req 5 Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet
