Reference no: EM13788138
Bond Premium, Entries for Bonds Payable Transactions
Wishaw, Inc. produces and sells outdoor equipment. On July 1, 2014, Wishaw, Inc. issued $150,000,000 of 20-year, 12% bonds at a market (effective) interest rate of 9%, receiving cash of $191,403,720. Interest on the bonds is payable semi annually on December 31 and June 30. The fiscal year of the company is the calendar year.
1. Journalize the entries to record the following:
a. The first semi annual interest payment on December 31, 2014, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.)
Interest Expense
Premium on Bonds Payable
Cash 9,000,000
b. The interest payment on June 30, 2015, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.)
Interest Expense
Premium on Bonds Payable
Cash 9,000,000
2. Determine the total interest expense for 2014. Round to the nearest dollar.
Answer: $ _________
|
Services offered by health care organizations
: Describe the different forms of competition that take place among various types of health care organizations.Evaluate the benefits and pitfalls of competition in health care and suggest alternatives if competition was not the primary driver of oper..
|
|
Health care issues in the united states
: Explain how health is affected by behaviors, economics, and social structure.
|
|
Identify and explain the major provisions of bill of rights
: Identify and explain the major provisions of the Bill of Rights. How has the Bill of Rights significantly impacted the prisoners' rights and the fields of criminal justice and corrections
|
|
What is the amount debited to the finished goods accounts
: Watkins Company had the following production for the month: Using the weighted-average method, the equivalent units for the month, with respect to conversion cost, were: Assume that the spoilage for the month included abnormal spoilage of 1,000 units..
|
|
Bond premium-entries for bonds payable transactions
: Wishaw, Inc. produces and sells outdoor equipment. On July 1, 2014, Wishaw, Inc. issued $150,000,000 of 20-year, 12% bonds at a market (effective) interest rate of 9%, receiving cash of $191,403,720. Interest on the bonds is payable semi annually on ..
|
|
Female moral perspective
: Ethics of care argues that there is a female moral perspective that contrasts sharply with the male moral perspective.
|
|
Write summary of article streaming video could give new life
: Write summary of the article Streaming video could give new life to Fox's 'Prison Break' and '24'.
|
|
Why is use of standard costing important for manufacturing
: Why is the use of standard costing important for a manufacturing company? Please provide a detailed empirical example in relation to your answer.
|
|
Discuss the facts involved in the arbitration
: Your first paragraph will be your opening. This paragraph should discuss the facts involved in the arbitration, and with which party you have sided
|