Chapter 10 HW - S10-11(10 min Journal Entry Date Jan 1 2010...

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S10-11 (10 min) Journal Entry Date Accounts and Explanations Debit Credit Jan. 1 2010 Cash 80,000 Bonds Payable 80,000 July 1 2010 Interest Expense 2,800 Cash 2,800 January 1, 2017 Bonds Payable 80,000 Cash 80,000
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S10-19 (10-15 min) Plan A Plan Net Income Before Project 500,000 Expexted Income on the new project 200,000 before interest and income expenses 200,000 0 Less:Interest Expense($2,000,000 X 0.08) -160,000 200,000 40,000 -80,000 Less:Income Taxe Expense(40%) -16,000 Project Net Income 24,000 Net Income with new project 524,000 Earning per share with new project 5.24 Issue $2,000,000 of 8% Bonds Payable Issue $2,00 of Comm
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n B 500,000 120,000 620,000 3.1 00,000 mon Stock
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E10-25 (10-15 min) Req. 1 Required work hours $560.00 Extra hours 462.00 Total gross pay $1,022.00 Less: Income Tax 9% $91.98 FICA 8% $81.76 United Funds $10.00 Total deductions $183.74 Net Pay $836.26 Req. 2 General Journal DATE ACCOUNTS DEBIT CREDIT Salary Expense $1,022.00 Income Tax 9% Payable $91.98 FICA 8% Payable $81.76 United Funds Payable $10.00 Gross Salary Payable $838.26
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E10-33 (15-20min) Plan A Plan B Issue $3,000,000 Issue $3,000,000 of 6% Bonds payable
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