Problem 10-9A Wempe Co. sold $3,051,000, 9%, 10-year bonds onJanuary 1, 2014. The bonds were dated January 1, 2014, and payinterest on January 1. The company uses straight-line amortizationon bond premiums and discounts. Financial statements are preparedannually.
Prepare the journal entries to record the issuance of the bondsassuming they sold at: (1) 104 and (2) 96. (Credit account titlesare automatically indented when amount is entered. Do not indentmanually.)
No. Date Account Titles and Explanation Debit Credit 1. 1/1/142. 1/1/14
Prepare amortization tables for issuance of the bonds sold at104 for the first three interest payments.
Annual Interest Periods/ Interest to Be Paid Interest/ Expenseto Be Recorded/ Premium Amortization/ Unamortized Premium/ BondCarrying Value
Prepare amortization tables for issuance of the bonds sold at 96for the first three interest payments.
Prepare the journal entries to record interest expense for 2014under both of the bond issuances assuming they sold at: (1) 104 and(2) 96.
No. Date Account Titles and Explanation Debit Credit 1. 12/31/142. 12/31/14 Show List of Accounts Show the long-term liabilitiesbalance sheet presentation for issuance of the bonds sold at 104 atDecember 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31,2014 $ : $ Show the long-term liabilities balance sheetpresentation for issuance of the bonds sold at 96 at December 31,2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 $ :
Problem 10-9A Wempe Co. sold $3,051,000, 9%, 10-year bonds onJanuary 1, 2014. The bonds were dated January 1, 2014, and payinterest on January 1. The company uses straight-line amortizationon bond premiums and discounts. Financial statements are preparedannually.
Prepare the journal entries to record the issuance of the bondsassuming they sold at: (1) 104 and (2) 96. (Credit account titlesare automatically indented when amount is entered. Do not indentmanually.)
No. Date Account Titles and Explanation Debit Credit 1. 1/1/142. 1/1/14
Prepare amortization tables for issuance of the bonds sold at104 for the first three interest payments.
Annual Interest Periods/ Interest to Be Paid Interest/ Expenseto Be Recorded/ Premium Amortization/ Unamortized Premium/ BondCarrying Value
Prepare amortization tables for issuance of the bonds sold at 96for the first three interest payments.
Prepare the journal entries to record interest expense for 2014under both of the bond issuances assuming they sold at: (1) 104 and(2) 96.
No. Date Account Titles and Explanation Debit Credit 1. 12/31/142. 12/31/14 Show List of Accounts Show the long-term liabilitiesbalance sheet presentation for issuance of the bonds sold at 104 atDecember 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31,2014 $ : $ Show the long-term liabilities balance sheetpresentation for issuance of the bonds sold at 96 at December 31,2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 $ :
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| Manilow Company issued $497,000, 7%, 20-year bonds on January 1, 2014, at 102. Interest is payable semiannually on July 1 and January 1. Manilow uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the following. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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