Please solve the question will definitely like Question 2On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bondswere issued at 110.63785 , the interest payable annually on April 1. The bonds were sold toyield 5%.b) Complete the following table:CashPaidInterestDiscountCarrying amountof bondsDateExpenseAmortizationApril 1 2019April 1 2020April 1 2021April 1 2022April 1 2023c) Journalize the required entries on the following datesApril 1, 2019December 31, 2019 - adjusting entryApril 1, 2020d) Assume that the on April 1 2022 company calls 60% of the bonds at 103. Journalizethe required entry

(a) Bond Amortization Schedule: (Amount in Euros) Date…

Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to yield 5%. b) Complete the following table: Cash Interest Discount Carrying amount of bonds Date Paid Еxpense Amortization April 1 2019 April 1 2020 April 1 2021 April 1 2022 April 1 2023 c) Journalize the required entries on the following dates April 1, 2019 December 31, 2019 - adjusting entry April 1, 2020 d) Assume that the on April 1 2022 company calls 60% of the bonds at 103. Journalize the required entry

Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to yield 5%. b) Complete the following table: Cash Interest Discount Carrying amount of bonds Date Paid Еxpense Amortization April 1 2019 April 1 2020 April 1 2021 April 1 2022 April 1 2023 c) Journalize the required entries on the following dates April 1, 2019 December 31, 2019 - adjusting entry April 1, 2020 d) Assume that the on April 1 2022 company calls 60% of the bonds at 103. Journalize the required entry

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 96PSA

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