
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
النسخة 22الرقم المعياري الدولي: 978-0077862275
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
النسخة 22الرقم المعياري الدولي: 978-0077862275 تمرين 73
Gomez issues $240,000 of 6%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. They are issued at $198,494, and their market rate is 8% at the issue date.
Required
1. Prepare the January 1, 2015, journal entry to record the bonds' issuance.
2. Determine the total bond interest expense to be recognized over the life of the bonds.
3. Prepare a straight-line amortization table like the one in Exhibit 14.7 for the bonds' first two years.
4. Prepare the journal entries to record the first two interest payments.
Reference: Exhibit 14.7

Required
1. Prepare the January 1, 2015, journal entry to record the bonds' issuance.
2. Determine the total bond interest expense to be recognized over the life of the bonds.
3. Prepare a straight-line amortization table like the one in Exhibit 14.7 for the bonds' first two years.
4. Prepare the journal entries to record the first two interest payments.
Reference: Exhibit 14.7

التوضيح
A bond refers to a security generally us...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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