Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

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Answer 1

Question

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

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QUESTION 10 A $545,000 bond issue on which there is an unamortized discount of $44.000 is redeemed ior $474,000. Journalize the redemption of the bonds using the straight-line method and the chart of accounts below. Gain on Redemption of Bonds Interest Expense Interest Payable Interest Revenue Bonds Payable Cash Discount on Bonds Payable Loss on Redemption of Bonds Premiun on Bonds Payable Enter your answers into the table below. Key the account names carefully (exactly as shown above) and follow formatting instructions below. DO NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. WHEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK. Account Debit Credit THIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos). Click Save and Submit to saue and submit Clil Saue 47l aacars to na

value tables in Appendix A al lhe Ch PR 11-3A Entries for bonds payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar Obj. 2 V 3. $64,317,346 20Y1 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 20Y1, at a market (effective) rate of 1a4 receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30 Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined uu July SHOW ME HOW EXCEL TEMPLATE the semiannual interest payment. 20Y2 June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined wth the semiannual interest payment. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 20Y3 June 30. Recorded the redemption of the bonds, which were called at 98. The balance in the bond…

Answer 2

Question

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

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Answer 3

Question

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

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Answer 4

Question

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

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Answer 5

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

Answer 6

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

Answer 7

Chapter 7, Problem 18E

a.

To determine

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

Answer 8

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

Answer 9

b.

To determine

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

Answer 10

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

Answer 11

c.

To determine

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

Answer 12

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

Answer 13

d.

To determine

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 7 - 1. What type of transaction is a cash payment to...Ch. 7 - Prob. 2Q Ch. 7 - How does recording accrued interest affect the...Ch. 7 - 4. Who is the maker of a note payable?Ch. 7 - How does the going concern assumption discussed in...Ch. 7 - 6. Why is it necessary to make an adjusting entry...Ch. 7 - Assume that on October 1, 2018, Big Company...Ch. 7 - Prob. 8Q Ch. 7 - Prob. 9Q Ch. 7 - Prob. 10Q

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

Solution Summary: The author calculates the amount of bond premium or discount of Company G issued 80,000 of 6 percent bonds at 101.25.

Compute the amount of bond premium or discount of Company G issued $80,000 of 6 percent bonds at 101.25.

Compute the amount of bond premium or discount of Incorporation B issued $200,000 of 10 year, 6 percent bonds at 97.50.

Compute the amount of bond premium or discount of Incorporation O issued $100,000 of 20 year, 6 percent bonds at 103.

Compute the amount of bond premium or discount of Company W issued $180,000 of 15 year, 7 percent bonds at 99.

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