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Homework Ch 9 #2 #3 #4 19-23A (similar to) E Question Help dam, Inc., issued $540,000...

Question

Homework Ch 9 #2 #3 #4 19-23A (similar to) E Question Help dam, Inc., issued $540,000...
Homework Ch 9
#2


19-23A (similar to) E Question Help dam, Inc., issued $540,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc.,
2 of 4 (1 complete) HW Score - to) Qu 10,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays Interest each
: Homework - Chapter 09 2 of 4 (1 complete) HW SO to) ,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays

#3

HW Score! 25%, 2018 Question Help Score: 0 of 2 pts < 3 of 4 (1 complete) P9-38A (similar to) The following transactions of P
dent/PlayerHomework.aspx?homework/d=551574992&questionid=1llushed=talse&cd=5792558&centerwie asses - Spring, 2020 Jennifer Ng
#4

4 of 4 (1 complete) > HW Score: 25%, 2 of 8 pts Score: 0 of 2 pts P9-42A (similar to) Question Help On April 1. 2018, Nantuck
rto) B Que ucket Golf Clubs issued $450,000 of 15-year, 5 percent bonds payable. The bonds were sold for $432,000. The bonds
19-23A (similar to) E Question Help dam, Inc., issued $540,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method. Adam, Inc., can issue its bonds payable under various conditions: (Click the icon to view the conditions.) Read the requirements Requirement 1. Journalize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Record debits first, then credits. Exclude explanations from any Journal entries.) a. Record the issuance of the bonds payable at par value. Journal Entry Date Accounts Debit Credit Jan 1 Choose from any list or enter any number in the input fields and then click Check Answer
2 of 4 (1 complete) HW Score - to) Qu 10,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays Interest each January 1 and July 1 and amortizes a I-line method. Adam, Inc., can issue its bonds payable under various conditions: iew the conditions.) alize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Re explanations from any loumal antras) e of the bonds More Info a. Issuance at par value b. Issuance at a price of $460,000 when the market rate was above 5 percent c. Issuance at a price of $600,000 when the market rate was below 5 percent Print Print [Done] Done or enter any number in the input fields and then click Check Answer. Clear All Check Answer
: Homework - Chapter 09 2 of 4 (1 complete) HW SO to) ,000 of 20-year, 5 percent bonds payable on January 1. Adam, Inc., pays interest each January 1 and July 1 and amort -line method. Adam, Inc., can issue its bonds payable under various conditions: ew the conditions.) lize Adam's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not require planations from any journal entries.) of th A Requirements 1. Journalize Adam, Inc.'s issuance of the bonds and first semiannual interest payment for each situation. Round calculations to the nearest dollar. Explanations are not required. 2. Which condition results in the most interest expense for Adam, Inc.? Explain in detail. Print Sone
HW Score! 25%, 2018 Question Help Score: 0 of 2 pts < 3 of 4 (1 complete) P9-38A (similar to) The following transactions of Penny and Dime Marine Supply occurred during 2018 and 2019: (Click the icon to view the transactions.) Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries. Round amounts to the nearest whole dollar) Begin by journalizing the 2018 transactions, starting with the purchase of equipment on February 3. Feb 3: Purchased equipment for $22,000, signing a six-month, 9% note payable. Journal Entry Accounts Debit Credit Feb 3, 2018 Date Choose from any list or enter any number in the input fields and then click Check Answer. 10 parts IU remaining Clear All Check Answer
dent/PlayerHomework.aspx?homework/d=551574992&questionid=1llushed=talse&cd=5792558&centerwie asses - Spring, 2020 Jennifer Nguyen & 1 02/04/ rk: Homework - Chapter 09 3 of 4 (1 complete) HW Score: 25 lar to) is Questi ctions of Penny and Dime Marine Supply occurred during 2018 and 2019: view the i More Info sactions to the ne s from any jou the 2011 2018 Feb 3 28 quipment Mar Apr 7 30 Purchased equipment for $22,000, signing a six-month, 9% note payable. Recorded the week's sales of $57,000, one-third for cash, and two-thirds on account. All sales amounts are subject to a 3% sales tax. Ignore cost of goods sold. Sent last week's sales tax to the state. Borrowed $100,000 on a four-year, 9% note payable that calls for annual payment of interest each April 30. Paid the six-month, 9% note at maturity. Purchased inventory at a cost of $6,800, signing a three-month, 9% note payable for that amount. Accrued warranty expense, which is estimated at 1.0% of total sales of $580,000. Accrued interest on all outstanding notes payable. Accrued interest for each note separately. Aug Nov 3 30 Dec 31 31 2019 Feb 28 Apr 30 Paid off the 9% inventory note, plus interest, at maturity. Paid the interest for one year on the long-term note payable. Done st or ente Clear All Check Answer
4 of 4 (1 complete) > HW Score: 25%, 2 of 8 pts Score: 0 of 2 pts P9-42A (similar to) Question Help On April 1. 2018, Nantucket Golf Clubs issued $450,000 of 15-year, 5 percent bonds payable. The bonds were sold for $432,000. The bonds pay interest each September 30 and March 31, and any discount or premium is amortized using straight-line amortization Read the requirements Requirement 1. Fill in the blanks to complete each statement. a. Nantucket Golf Clubs' bonds are priced at (express the price as a percentage) Enter any number in the edit fields and then click Check Answer 6 parts b remaining Clear All Check Answer
rto) B Que ucket Golf Clubs issued $450,000 of 15-year, 5 percent bonds payable. The bonds were sold for $432,000. The bonds pay inte "ch 31, and any discount or premium is amortized using straight-line amortization. 0 Requirements the b abs' 1. Fill in the blanks to complete these statements: a. Nantucket Golf Clubs' bonds are priced at (express the price as a percentage). b. When Nantucket Golf Clubs issued its bonds, the market interest rate was (higher than lower than or equal to 5 percent. C. The amount of bond discount or premium is_ 2. Record the following transactions: a. Issuance of the bonds payable on April 1, 2018 b. Payment of interest (and amortization of discount or premium, if any) on September 30, 2018 c. Accrual of interest (and amortization of discount or premium, if any) on December 31, 2018; explanations are not required 3. At what amount will Nantucket Golf Clubs report the bonds on its balance sheet at December 31, 2018? Print Done the edit fields and then click Check Answer. Clear All Check Answer

Answers

As per policy, only one question is allowed to answer at a time, so answering #2 :

9-23A) Journal entries without explanations (as required):
Req1)
a) Issued at par:
Date accounts Debit Credit
1-Jan Cash 540000
Bonds payable 540000
(issued at par)
1-Jul Interest expense 13500 (540000*2.5%)
Cash 13500
(1st interest paid)
b)Issued at discount:
Date accounts Debit Credit
1-Jan Cash 460000
Discount on Bond payable 80000
Bonds payable 540000
(issued at discount)
1-Jul Interest expense 15500
Discount on Bond payable 2000 (80000/40)
Cash 15500 (540000*2.5%)
(1st interest paid and amortisation at Straight line)
c)Issued at premium:
Date accounts Debit Credit
1-Jan Cash 600000
Premium on Bond payable 60000
Bonds payable 540000
(issued at premium)
1-Jul Interest expense 14000
Premium on Bond payable 1500 (60000/40)
Cash 14000 (540000*2.5%)
(1st interest paid and amortisation at Straight line)
Req. 2)The issuance of the Bond on discount will result in highest interest
expense as the discount amortised will be treated as interest
expense.


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