Hillside issues 1500000 of 6 15-year bonds dated january 1

Reference no: EM13483683

Hillside issues $1,500,000 of 6%, 15-year bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,296,168.

1. Record the issue of bonds with a par value of $1,500,000 cash on January 1, 2013 at an issue price of $1,296,168.

2. For each semiannual period, complete the table below to calculate the cash payment.

3. For each semiannual period, complete the table below to calculate the straight-line discount amortization.

4. For each semiannual period, complete the table below to calculate the bond interest expense.

5.Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life

6.Prepare the first two years of an amortization table using the straight-line method.

7.Prepare the journal entries to record the first two interest payments.

Reference no: EM13483683

Questions Cloud

Using the statement on auditing standard as your source : using the statement on auditing standard as your source list one standard you think relates directly to gathering audit

The articles of partnership provide for salary allowances : daja and whitnee had capital balances of 140000 and 160000 respectively at the beginning of the current fiscal year.

You are the systems analyst for the wee willie williams : you are the systems analyst for the wee willie williams widget works company. you have decided to review the order

The interest rate for the investment is 6 what will the : an investment is expected to pay a return of 100 per year. the interest rate for the investment is 6. what will the

Hillside issues 1500000 of 6 15-year bonds dated january 1 : hillside issues 1500000 of 6 15-year bonds dated january 1 2013 that pay interest semiannually on june 30 and december

Microsoft issued bonds for the first time in 2009 collect : microsoft issued bonds for the first time in 2009. collect information on its bonds what are the coupon rates are there

What is the degree of operating leverage this is a : pampq company has provided you the following information. monthly fixed expenses are 5000 usd and variable expenses per

Which retirement plan has the highest present value at the : m. cansado is about to retire. he has a retirement account that allows two payment options. under option 1 he can

How much overall risk is there in this firm where is this : overall risk of whole foods market wfmbull how much overall risk is there in this firm? where is this risk coming from

User Account

All Pages