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LHONDA: CAN you HELP ME SOLUE THIS JUST SUME TIPS PLEASE ? Before you begin, print out all the pages in this workbook. Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semi-annually. Other information is as follows: I 'm CONFUSEDI Term in years: 2 TiM CAMERON 315-600-7436 Face value of bonds issued: Issue price: Specified interest rate each payment period: $200,000 $206,000 6% Required: 1 Calculate: a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight- line method). 206, v00 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table A C (A + D) Beg. bond Actual Periodic Periodic cash discount Ending bond Period carrying interest interest (prem.) carrying Year ending amount expense paid amort. I B0 185 amount 206180 206365 2065 76 206, u00 2019 Jun. 30 Dec. 31 206,180 206,385 6185 2020 Jun. 30 191 Dec. 31 206,576 6197 197 2021 Jun. 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six- month period. Round all percentage calculations to two decimal placed. Use the following format: Six month Bond Six-month period carrying interest ending amount expense Year (B/A) 2019 Jun. 30 Dec. 31 2020 Jun. 30 Dec. 31 2021 Jun. 30 Dec. 31 4 Prepare the journal entry for December 31, 2019.

LHONDA: CAN you HELP ME SOLUE THIS JUST SUME TIPS PLEASE ? Before you begin, print out all the pages in this workbook. Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semi-annually. Other information is as follows: I 'm CONFUSEDI Term in years: 2 TiM CAMERON 315-600-7436 Face value of bonds issued: Issue price: Specified interest rate each payment period: $200,000 $206,000 6% Required: 1 Calculate: a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight- line method). 206, v00 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table A C (A + D) Beg. bond Actual Periodic Periodic cash discount Ending bond Period carrying interest interest (prem.) carrying Year ending amount expense paid amort. I B0 185 amount 206180 206365 2065 76 206, u00 2019 Jun. 30 Dec. 31 206,180 206,385 6185 2020 Jun. 30 191 Dec. 31 206,576 6197 197 2021 Jun. 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six- month period. Round all percentage calculations to two decimal placed. Use the following format: Six month Bond Six-month period carrying interest ending amount expense Year (B/A) 2019 Jun. 30 Dec. 31 2020 Jun. 30 Dec. 31 2021 Jun. 30 Dec. 31 4 Prepare the journal entry for December 31, 2019.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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1. a)  the amt of interest pd in cash every payment period,

1. b) the amt of amorization to be recorded at each interest payment date.(use the straight -line method  

 

 

LHONDA: CAN you HELe mE JUST SUME TIPS PLEASE SOLUE THIS? Before you begin, print out all the pages in this workbook. Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semi-annually. Other information is as follows: Term in years: I'm CONEUSEDI 2 TiM CAMARON 315-600-7436 Face value of bonds issued: Issue price: Specified interest rate each payment period: $200,000 $206,000 6% Required: 1 Calculate: a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight- line method). 26, 206,000 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table A (A + D) Beg. Actual Periodic bond Periodic Ending bond carrying cash discount Period carrying interest interest (prem.) Year ending amount expense paid amort. атоunt 206, u00 206,160 61 85 206,305 206,576 206180 206365 2065 76 2019 Jun. 30 6180 Dec. 31 2020 Jun. 30 191 Dec. 31 6197 197 2021 Jun. 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six- month period. Round all percentage calculations to two decimal placed. Use the following format: A B Six month Bond Six-month period carrying interest % ending атоunt expense Year (B/A) 2019 Jun. 30 Dec. 31 2020 Jun. 30 Dec. 31 2021 Jun. 30 Dec. 31 4 Prepare the journal entry for December 31, 2019.
Transcribed Image Text:LHONDA: CAN you HELe mE JUST SUME TIPS PLEASE SOLUE THIS? Before you begin, print out all the pages in this workbook. Otter Products Inc. issued bonds on January 1, 2019. Interest is to be paid semi-annually. Other information is as follows: Term in years: I'm CONEUSEDI 2 TiM CAMARON 315-600-7436 Face value of bonds issued: Issue price: Specified interest rate each payment period: $200,000 $206,000 6% Required: 1 Calculate: a. The amount of interest paid in cash every payment period. b. The amount of amortization to be recorded at each interest payment date (use the straight- line method). 26, 206,000 2 Complete this amortization table by calculating interest expense, and beginning and ending bond carrying amounts at the end of each period over two years. Amortization Table A (A + D) Beg. Actual Periodic bond Periodic Ending bond carrying cash discount Period carrying interest interest (prem.) Year ending amount expense paid amort. атоunt 206, u00 206,160 61 85 206,305 206,576 206180 206365 2065 76 2019 Jun. 30 6180 Dec. 31 2020 Jun. 30 191 Dec. 31 6197 197 2021 Jun. 30 Dec. 31 3 Calculate the actual interest rate under the straight-line method of amortization for each six- month period. Round all percentage calculations to two decimal placed. Use the following format: A B Six month Bond Six-month period carrying interest % ending атоunt expense Year (B/A) 2019 Jun. 30 Dec. 31 2020 Jun. 30 Dec. 31 2021 Jun. 30 Dec. 31 4 Prepare the journal entry for December 31, 2019.
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