HCS 380 Week 5 WileyPLUS Ex 10-8A, Ex 10-8B, Ex 10-10A, Problem 11-2A, 11-7A

This Tutorial contains Excel Sheet which can be used to solve All Wiley Problem for any numbers/values     Complete the assigned exercises in WileyPLUS   Excel Problem 10-8A   Excel Problem 10-8B   Excel Problem 10-10A     Problem 11-2A   Problem 11-7A   P10-8A     Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet presentation � � � � � � � � � � � � � � � � � � � � � �   � � � � � � � � �  and balance sheet presentation � � � � � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Yung Corporation sold $2,000,000, 7%, 5 year bonds on January 1, 2014.  The bonds were dated January 1, 2014, and pay interest � � � � � � � � � � � � � � � � � � � � � � � � � �   � �   on January 1.  The company uses straight-line amortization on bond premiums or discounts. � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Instructions � � � � � � � � � � � � � � � � � � � � � � � � � � � � �    (a) �   Prepare all necessary journal entries to record the  issuance of the bonds and bond interest expense for 2014, � � � � � � � � � � � � � � � � � � � � � � � � � �     � �  assuming the bond sold at 102. � � � � � � � � � � � � � � � � � �    � �  � � � � � � � (b) �   Prepare journal entries as in part (a) assuming the bonds sold at 97. � � � � � � � � �     � � � � � � � � � � � � � � � �    (c ) �  Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and � � � � � � � � � � � � � � � � � � � � � � � � � � �     � �  then (2) the 97 selling price � � � � � � � � � � � � � � � � � � � � � �  � � � �    NOTE:  Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” . � � � � � � � � � � � � � � � � � � � � � � � � � � � �    � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � P10-8B   Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet presentation � � � � � � � � � � � � � � � � � � � � � � � � � � � � �    � �  and balance sheet presentation � � � � � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Holmes Corporation sold $2,200,000, 8%, 5-year bonds on January 1, 2014.  The bonds were dated January 1, 2014, and pay interest � � � � � � � � � � � � � � � � � � � � � � � � � �  � � � �    on January 1.  Holmes Corporation uses the straight-line method to amortize bond premiums or discounts. � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Instructions � � � � � � � � � � � � � � � � � � � � � � � � � � � � �    (a) �   Prepare all necessary journal entries to record the  issuance of the bonds and bond interest expense for 2014, � � � � � � � � � � � � � �     � � � � � � � � � � �     � �  assuming the bond sold at 102. � � � � � � � � � � � � � � � � � � � � � � � � � � � � (b) �   Prepare journal entries as in part (a) assuming g the bonds sold at 98. � � � � � � � � �  � � � � � � � � � � � � � � � � � � � (c ) �  Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and � � � � � � � � � � � � � � � � � � � � � � � � � � �     � �  then (2) the 98 selling price � � � � � � � � � � � � � � � � � � � � � �   � � � �    NOTE:  Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” . � � � � � � � � � � � � � � � � � � � � � � � � � � � �    � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �   P10-10A   Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective interest method. � � � � � � � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � �   � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �   � � � � � � � � � � �     On January 1, 2014, Lock Corporation issued � � � � � � � � � � � � � � � � � �     � � � � � � � $1,800,000 � � � � �    face value, � � � � � � 5% � � �    10 � � � � � � -year bonds at � � � �     $1,667,518 � � � � �    This price resulted in an effective-interest rate of � � � � � � � � � � � � � � � � � � � � � � � 6% � � � � � � on the bonds. Lock uses the effective-interest method to amortize bond premium or � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �   � � � �    discount. The bonds pay annual interest January 1. � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � � � � � � �  � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �   � � � � � � � � � � �      Instructions:  (Round all computations to the nearest dollar.) � � � � � � � � � � � � �     � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2014. � � � � � �    � � � � � � � � � � � � � � � � � � � � � � � � �   &nb

Previous answers to this question


This is a preview of an assignment submitted on our website by a student. If you need help with this question or any assignment help, click on the order button below and get started. We guarantee authentic, quality, 100% plagiarism free work or your money back.

order uk best essays Get The Answer
Uncategorized

Leave a Reply

Your email address will not be published. Required fields are marked *