Using the information in the first tab ("Problem"), create the proper journal entries in the second tab of the file ("Worksheet"). Each transaction description is numbered (1 - 3).In the Worksheet area, you will find corresponding numbering (1a, 1b, 2a, 2b., etc...).Please use the proper format and account titles for your journal entries.Memo entries are completed for you.
A B C D E F G H K M N O P Q R S Assignment Instructions: Using the information in the first tab ("Problem"), create the proper journal entries in the second tab of the file ("Worksheet"). Each transaction description is numbered (1 - 3). In the Worksheet area, you will find corresponding numbering (1a, 1b, 2a, 2b., etc...). Please use the proper format and account titles for your journal entries. Memo entries are completed for you. Please see the Course Cafe for a problem demonstration of a similar problem. Submission Instructions: You will make the changes to the above file that you have downloaded to your device. When you have completed the project, please re- name your file "FirstNameLastName - End_of_Week1_Project" and upload to the appropriate area in Blackboard (for example: SusanSmith-End_of_Week1_Project ). Submit your completed document using the file attach tool in the assignment area. Due Date: Saturday of Week 1 by 11:59 pm Points: 50 Points On January 1, 2017, the board of directors of Papermaker Inc. issued 9-year, 2% bonds with a par value of $600,000 to finance equipment purchases. 2 1. Using the straight-line method to amortize bond discounts and premiums, (a) prepare the issuer's journal entry to record the initial bond issuance and the first semiannual interest payment with the amortization of any bond discount or premium assuming the bonds were issued at par, and (b) calculate the total bond interest expense over the life of the bonds. 3 " 1 . 1" Problem Worksheet (+ 4A5 X V 3. Using the straight-line method to amortize bond discounts and premiums, (a) prepare the issuer's journal entry to record the initial bond issuance and the first semiannual interest A B C D E F G H J K L M N O P Q R S 2. Using the straight-line method to amortize bond discounts and premiums, (a) prepare the issuer's journal entry to record the initial bond issuance and the first semiannual interest payment with the amortization of any bond discount or premium assuming the bonds were issued at 97, and (b) calculate the total bond interest expense over the life of the bonds. 3. Using the straight-line method to amortize bond discounts and premiums, (a) prepare the issuer's journal entry to record the initial bond issuance and the first semiannual interest payment with the amortization of any bond discount or premium assuming the bonds were issued at 104, and (b) calculate the total bond interest expense over the life of the bonds. Problem Worksheet + + 100%GENERAL JOURNAL IN Date Accounts Debit Credit 3 1(a 4 Issued bonds at par 9 Semiannual interest payment at par 1(b) 10 Interest expense over the life of the bonds 11 at parDate Accounts Debit Credit 13 14 2(a) 15 16 17 Issued bonds at 97 19 20 21 22 Semiannaul interest payment 2(b) 23 24 Interest expense over the life of the bonds25 GENERAL JOURNAL 26 Date Accounts Debit Credit 27 3(a) 28 29 Issued bonds at 104 30 JT 32 33 34 35 Semiannual interest payment 3(b) 36 Interest expense over the life of the bonds 37
