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Virginia Vista Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued on June 30, 2018, and Virginia Vista
Virginia Vista Company has 12%, 10-year bonds payable that mature on June 30, 2028. The bonds are issued on June 30, 2018, and Virginia Vista pays interest each June 30 and December 31 Read the requirements Requirement 1. Wil the bonds be issued at face value, at a premium, or at a discount if the market interest rate on the date of issuance is 10%? If the market interest rate is 13%? If the market interest rate is 10%, the bonds will be issued at If the market interest rate is 13%, the bonds will be issued at Requirement 2. Virginia Vista issued $200,000 of the bonds at 92,5. Round al calculations to the nearest dollar a. Record issuance of the bonds on June 30, 2018. (Record debits first, then credits. Select explanations on the last line of the joumal entry. Round your answers to the nearest whole dolar) Accounts and Explanation Debit Credit 2018 (a) Jun 30 Date b. Record the payment of interest and amortization of the discount on December 31, 2018. Use the straight-line amortization method. (Record debits first, then credits. Select explanations on the last to the nearest whole dollar) Accounts and Explanation Debit Credit Date 2018 (b) Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question UU, LULU. The bonds are issued on June 30, 2018, and Road the requirements. 2018 (b) Dec. 31 C. Compute the bonds' carrying amount at December 31, 2018. (Enter all amounts to the nearest whole dollar.) Carrying amount at December 31, 2018 Long-term Liabilities: Less: d. Record the payment of interest and amortization of discount on June 30, 2019. (Record debits first, then credits. Select explanat Date Accounts and Explanation Debit Credit 2019 (d) Jun. 30 Choose from any list or enter any number in the input fields and then continue to the next
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