E15 3 On January 1 2017 Forrester Company Issued 400 000 8 5 Year Bonds At Face Value Interest Is Payable Annuall 1 (25.08 KiB) Viewed 100 times
E15 3 On January 1 2017 Forrester Company Issued 400 000 8 5 Year Bonds At Face Value Interest Is Payable Annuall 2 (35.83 KiB) Viewed 100 times
E15-3 On January 1, 2017, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable annually on January 1. Instructions Prepare journal entries to record the following: (a) The issuance of the bonds. b) The accrual of interest on December 31, 2017 payment of interest on January 1, 2018. (c) The
E15-5 Swisher Company issued $2,000,000 of bonds on January 1, 2017. Instructions (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 98, and (3) 103, (b) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (c) Prepare the journal entry to record the redemption of the bonds before maturity at 98. Assume the balance in Premium on Bonds Payable is $9,000. (d) Prepare the journal entry to record the conversion of the bonds into 60,000 shares of $10 par value common stock. Assume the bonds were issued at par.
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