{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Accounting HW6 & Corrections - Assignme nt Pr int...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
11/18/13 Assignment Print View ezto.mhecloud.mcgraw-hill.com/hm_accounting.tpx?todo=printviewSingle 1/4 Score: 100 out of 100 points (100%) 1. award: 25 out of 25.00 points On January 1, 2011, Kidman Enterprises issues bonds that have a $1,700,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Kidman pay (in cash) to the bondholders every six months? $ $ Par (maturity) Value Semiannual Rate Semiannual Cash Interest Payment 1,700,000 X 9% = 76,500 2. Prepare journal entries for the following. a. The issuance of bonds on January 1, 2011. Date General Journal Debit Credit jan. 1, 2011 Cash 1,700,000 Bonds payable 1,700,000 b. The first interest payment on June 30, 2011. (Do not round intermediate calculations.) Date General Journal Debit Credit Jun. 30, 2011 Bond interest expense 76,500 Cash 76,500 c. The second interest payment on December 31, 2011. (Do not round intermediate calculations.)
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
11/18/13 Assignment Print View ezto.mhecloud.mcgraw-hill.com/hm_accounting.tpx?todo=printviewSingle 2/4 Date General Journal Debit
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern