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Req 1 Req 2A to 20 Req 3 Semiannual Period-End Req 4 Prepare the first two years of a straight-line amortization table. (Round your intern whole dollar.) Unamortized Premium Req 5 Carrying Value

Req 1 Req 2A to 20 Req 3 Semiannual Period-End Req 4 Prepare the first two years of a straight-line amortization table. (Round your intern whole dollar.) Unamortized Premium Req 5 Carrying Value

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 16E
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Can you please help me with Reg 4 and Reg 5

Req 1 Req 2A to 2C Semiannual Period-End Req 3 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Prepare the first two years of a straight-line amortization table. (Round your intermediate ar whole dollar.) Req 4 Unamortized Premium Req 5 Carrying Value
Transcribed Image Text:Req 1 Req 2A to 2C Semiannual Period-End Req 3 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Prepare the first two years of a straight-line amortization table. (Round your intermediate ar whole dollar.) Req 4 Unamortized Premium Req 5 Carrying Value
Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $4,895,980. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments.
Transcribed Image Text:Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $4,895,980. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments.
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