chap 14
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chap 14

Course Number: ACCT 2011, Spring 2013

College/University: University of Louisiana...

Word Count: 2199

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BE14-1 Your answer is correct. Whiteside Corporation issues $500,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the annual market rate for such bonds is 10%. Compute the issue price of the bonds. (Use the present value tables in the text. Round your answer to zero decimal places, e.g. 2,510.) $ 469275.65 BE14-2 Your answer is correct. The Colson Company issued $300,000...

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BE14-1 Your answer is correct. Whiteside Corporation issues $500,000 of 9% bonds, due in 10 years, with interest payable semiannually . At the time of issue, the annual market rate for such bonds is 10%. Compute the issue price of the bonds. (Use the present value tables in the text. Round your answer to zero decimal places, e.g. 2,510.) $ 469275.65 BE14-2 Your answer is correct. The Colson Company issued $300,000 of 10% bonds on January 1, 2013. The bonds are due January 1, 2018, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Description/Account (a) Cash Bonds Payable (b) Interest Expense Cash (c) Interest Expense Interest Payable BE14-3 Your answer is correct. The Colson Company issued $300,000 of 10% bonds on January 1, 2013. The bonds are due January 1, 2018, with interest payable each July 1 and January 1. The bonds are issued at 98. January 1, 2018, with interest payable each July 1 and January 1.

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University of Louisiana at Monroe - ACCT - 2011
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University of Louisiana at Monroe - ACCT - 2011
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University of Louisiana at Monroe - ACCT - 2011
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