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Question: hillside issues 1800000 of 7 15year bonds dated january 1...

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Hillside issues $1,800,000 of 7%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,555,401 Required: 1. Prepare the January 1, 2017, journal entry to record the bonds issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds life 4. Prepare the first two years of an amortization table using the straight-line method. 5. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the January 1, 2017, journal entry to record the bonds issuance View transaction list

Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 For each semiannual period, complete the table below to calculate the cash payment, straight-line discount amortization and bond interest expense. Par (maturity) value Annual Rate Year Semiannual cash interest payment Bonds price Disco nyon BondsSemilanal periods Stragnz aonount Discount on Bonds Payable Par (maturity) value Bonds price amortization Discount Semiannual cash pay ment amortization Bond interest expense < Req 1 Req 3 >

Complete this question by entering your answers in the tabs below. Req 1Req 2A to 2CReq 3 Req 4 Req 5 Complete the below table to calculate the total bond interest expense to be recognized over the bonds life. Total bond interest expense over life of bonds: Amount repaid Par value at maturity Total repaid Less amount borrowed Total bond interest expense payments of K Req 2A to 2C Req 4

Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2CReq 3 Req 4 Req 5 Prepare the first two years of an amortization table using the straight-line method Carrying Value Semiannual Period- Unamortized End 01/01/2017 06/30/2017 12/31/2017 06/30/2018 12/31/2018 Discount

Journal entry worksheet 2 Record the first interest payment on June 30, 2017. Note: Enter debits before credits. Date General Journal Debit Credit Jun 30, 2017 Record entry Clear entry View general journal

Journal entry worksheet 2 Record the second interest payment on December 31, 2017. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general journal

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