Chapter 2 Problem 2-4
Requirement 1
2008
Jan. 1 Unissued bonds payable 8,000,000
Authorized bonds payable 8,000,000
1 Cash (5,000,000 x 95%) 4,750,000
Discount on bonds payable 250,000
Unissued bonds payable 5,000,000
June 30 Interest expense (5,000,000 x 12% x 6/12) 300,000
Cash 300,000
Dec. 31 Interest expense 300,000
Cash 300,000
31 Interest expense (250,000 / 10) 25,000
Discount on bonds payable 25,000
2009
June 30 Interest expense 300,000
Cash 300,000
Sept. 1 Cash 2,100,000
Unissued bonds payable 2,000,000
Premium on bonds payable 60,000
Interest expense (2,000,000 x 12% x 2/12) 40,000
Dec. 31 Interest expense 420,000
Cash (7,000,000 x 12% x 6/12) 420,000
31 Interest expense 25,000
Discount on bonds payable 25,000
31 Premium on bonds payable 2,400
Interest expense 2,400
120 months – 20 = 100 months remaining
60,000 / 100 = 600 monthly
600 x 4 = 2,400
Requirement 2
Noncurrent liabilities:
Authorized bonds payable 8,000,000
Less: Unissued bonds payable 1,000,000
Issued bonds payable 7,000,000
Premium on bonds payable 57,600
Total 7,057,600
Discount on bonds payable ( 200,000)
Book value 6,857,600
meron po ba kayong chapter 3??? need ko po kasi dahil d ko gaanung maintindihan ang chapter na ito. salamat po
ReplyDeletemeron po ba kayong continuation nitong chapter na ito??? sana po magpost kayo..maraming salamat po
ReplyDeleteasan na po yung mga kasumod? bat po wala na?
ReplyDelete