The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 20Y1 July Dec. 20Y2 June Dec. 20Y3 June 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 20Y1, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31 30 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Required: 1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Y2. 3. Determine the carrying amount of the bonds as of December 31, 2012.

2. Journalize the transactions for April in a two-column journal beginning on Page 18. Refer to the Chart of Accounts for exact wording of account titles. Insert the appropriate posting references in both the journal and the ledger as each item is posted. PAGE 18PAGE 19   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16…

← 8:45 a. Trial balance b. General journal c. General ledger Accounting Records Label each of the examples below with the appropriate accounting record title and describe what each is used for: Date Date Totals Description Explanation HA2-1 a Debit P.R. DEBIT Debit Name CREDIT e Credit Credit ACCOUNT NO. BALANCE Done 3 A

For each account, indicate whether it appears in the general ledger or the subsidiary ledger. Accounts Payable - Igwe Choose. Accounts Receivable - Ukpolo Choose. Prepaid Rent Choose. Notes Payable Choose. Store Supplies Choose. Interest Expense Choose.

Exercise 5: Prepare journal entries to record the following merchandising transactions of Dean Company, which applies the perpetual inventory system. Dean Company offers all of its credit customers credit terms of 2/10, n/30. May 1 Purchased merchandise from Swift Company for $7,800 under credit terms of 1/10, n/30, FOB shipping point, invoice dated May 1. 2 Purchased merchandise from Arrow Company for $10,600 under credit terms 2/5, n/20, FOB destination. 3 Sold merchandise to Bee Company for $5,600, FOB shipping point, invoice dated May 4. The merchandise had cost $3,000. 4 Paid S300 cash for the freight charges on the May I purchase of merchandise. 5 Received an $800 credit memorandum from Swift Company for the return of part of the merchandise purchased on May 1. 6 Paid Arrow Company the balance due within the discount period. 8 Sold merchandise to Nat Company for $3,300, FOB shipping point, invoice dated May 8. The merchandise had a cost of $1,500. 11 Paid Swift Company the…

Subject: accounting

Three different lease transactions are presented below for Sandhill Enterprises. Assume that all lease transactions start on January 1, 2024. Sandhill does not receive title to the properties, either during the lease term or at the end of it. The yearly rental for each of the leases is paid at the beginning of each year. Sandhill Enterprises prepares its financial statements using ASPE. Lease term Estimated economic life Yearly rental payment Fair market value of leased asset Present value of lease rental payments Interest rate Manufacturing Equipment 5 years 15 years $18,000 $126,000 $81,270 3.5% Vehicles 6 years 7 years $19,260 $109,200 $100,962 4% Office Equipment 3 years 5 years $5,010 $22,500 $12,912 8% Ass me that Sandhill Enterprises has purchased the vehicle for $109,200 instead of leasing it and that the amount borrowed was $109,200 at 8% interest, with interest payable at the end of each year. Prepare the entries for 2024. (List all debit entries before credit entries. Credit…

Instructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.

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For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account. Debit Effect Credit Effect Normal Balance 1. Accounts Payable 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable 5. Owner's Capital 6. Owner's Drawings > > > > > > > > > > > > > > >