Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $540,000 of 25-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months.   Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank. May 1   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6 Nov. 1   fill in the blank 8 fill in the blank 9     fill in the blank 11 fill in the blank 12 Dec. 31   fill in the blank 14 fill in the blank 15     fill in the blank 17 fill in the blank 18

Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $270,000 of 20-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Nov. 1 Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank. May 1 Nov. 1 Dec. 31

Entries for Issuing Bonds May 1 Nov. 1 Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $690,000 of 15-year, 11% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Issued the bonds for cash at their face amount. Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months. Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank. May 1 Nov. 1 Dec. 31 E 00 00 00 ☆ זה Previous

Luke Corp. issued $2,000,000 of 20-year, 9% callable bonds on July 1, Year 1, with interest payable on June 30 and December 31. The fiscal year of the company is the calendar year. What is the entry to record the payment of interest on December 31 in the year the bonds were issued? a. Interest Expense Cash Ob. Interest Payable Interest Expense Cash Oc. Interest Expense Cash d. Cash Interest Expense 90,000 90,000 90,000 180,000 90,000 90,000 180,000 180,000 90,000

O’Halloran Inc. produces and sells outdoor equipment. On July 1, Year 1, O’Halloran Inc. issued $32,000,000 of six-year, 8% bonds at a market (effective) interest rate of 7%, receiving cash of $33,546,022. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1.* 2. Journalize the entries to record the following:* a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. b. The interest payment on June 30, Year 2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. 3. Determine the total interest expense for Year 1. 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is…

During two consecutive years, Antlers Company, Inc., completed the following transactions: Year 1 June 1 Issued $750,000 face value, 20-year, 12 percent bonds, dated June 1 of this year, at 103. Interest is payable semiannually on December 1 and June 1. Dec. 1 Paid semiannual interest on the bonds. 31 Recorded an adjusting entry for accrued interest payable. 31 Recorded an adjusting entry for amortization of premium on bonds. 31 Closed the Interest Expense account. Year 2 Jan. 1 Reversed the adjusting entry for accrued interest payable. June 1 Paid semiannual interest on the bonds. Dec. 1 Paid semiannual interest on the bonds. June 31 Recorded an adjusting entry for accrued interest payable. 31 Recorded an adjusting entry for amortization of premium on bonds. 31 Closed the Interest Expense account. Can I get some help for the second year?

Issuer Co. issued bonds on January 1, Year 1 for proceeds of $200,000. The stated rate of interest is 4% and the market (effective) rate of interest is 10%. The company has a calendar year end and the bonds pay interest annually on December 31. What will the company record as interest expense on December 31, Year 1?

The following bond investment transactions were completed by Starks Company: Jan. 31 Purchased 42, $1,000 government bonds at 100 plus accrued interest of $210 (1 month). The bonds pay 6% annual interest on July 1 and January 1. July 1 Received semiannual interest on bond investment. Aug. 30 Sold 18, $1,000 bonds at 98 plus $180 accrued interest (2 months).   a.  Journalize the entries for these transactions. Assume a 360-day year. Do not round interim calculations. Round final answers to nearest dollar. If an amount box does not require an entry, leave it blank. Jan. 31   - Select - - Select -     - Select - - Select -     - Select - - Select - July 1   - Select - - Select -     - Select - - Select -     - Select - - Select - Aug. 30   - Select - - Select -     - Select - - Select -     - Select - - Select -     - Select - - Select -     b.  Journalize the December 31 adjusting entry for semiannual interest earned on…

Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $270,000 of 25-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for two months.   Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank.