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
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