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,
10
-year bonds at
This price resulted in an effective-interest rate of
5%
$1,667,518
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.
&
========================================
HCS 380 Wileyplus Exercise 13-9 (Solution with Excel file)
FOR MORE CLASSES VISIT
www.hcs380rank.com
Just enter the value and get the answer, this excel file will work for
any value
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014 2013