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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Apr 2018 My Price 10.00

mheducation.com

Exercise 10-9 Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4

[The following information applies to the questions displayed below.]

On January 1, 2015, Shay issues $260,000 of 8%, 20-year bonds at a price of 96.75. Six years later, on January 1, 2021, Shay retires 20% of these bonds by buying them on the open market at 105.25. All interest is accounted for and paid through December 31, 2020, the day before the purchase. The straight-line method is used to amortize any bond discount.

rev: 11_17_2015_QC_CS-33054

References

Section BreakExercise 10-9 Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4

13.

value:
0.50 points

Required information

Exercise 10-9 Part 1

1.

How much does the company receive when it issues the bonds on January 1, 2015?
   

     Exercise 10-9 Part 1Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

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14.

value:
0.50 points

Required information

Exercise 10-9 Part 2

2.

What is the amount of the discount on the bonds at January 1, 2015?
   

     

WorksheetDifficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.

Exercise 10-9 Part 2Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

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15.

value:
0.50 points

Required information

Exercise 10-9 Part 3

3.

How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2015, through December 31, 2020?
   

    

WorksheetDifficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.

Exercise 10-9 Part 3Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

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16.

value:
0.50 points

Required information

Exercise 10-9 Part 4

4.

What is the carrying (book) value of the bonds and the carrying value of the 20% soon-to-be-retired bonds as of the close of business on December 31, 2020?
   

     

WorksheetDifficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.

Exercise 10-9 Part 4Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

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17.

value:
0.50 points

Required information

Exercise 10-9 Part 5

5.

How much did the company pay on January 1, 2021, to purchase the bonds that it retired?
   

  

WorksheetDifficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.

Exercise 10-9 Part 5Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

Check my work

18.

value:
0.50 points

Required information

Exercise 10-9 Part 6

6.

What is the amount of the recorded gain or loss from retiring the bonds?
   

    

WorksheetDifficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.

Exercise 10-9 Part 6Learning Objective: 10-P2 Compute and record amortization of bond discount using straight-line method.

eBook: Compute and record amortization of bond discount using straight-line method.eBook: Record the retirement of bonds.

Check my work

19.

value:
0.50 points

Required information

Exercise 10-9 Part 7

7.

Prepare the journal entry to record the bond retirement at January 1, 2021.

M chapter 10 Homework X C Home I Chegg.com mheducation.com/h Exercise 10-9 straight-Line: Bond computations, amortization. and bond retirement LO P2. P4 /The following informavon applies to the questions displayed belowi On January 1, 2015. Shay lssues $260,000 of 8%, 20-year bonds at a pnce of 96.75. Six years later, on January 1, 2021, Shay retires 20% of these bonds by buying them on the open market at 105.25. All Interest lis accounted for and pald through December 31, 2020, the day before the purchase. The straight line method is used to amortize any discount References Section Break Exercise 10-9 Straight-Line: Bond computations, amortization, and bond retirement LO P2 P4 13 value: 0.50 points Exercise 10-9 Part 1 1. How much does the company receive when it issues the bonds on January 1, 2015? Chapter 10-Homew Required Information A 4) 1:18 PM

M chapter 10 Homework X C Home I Chegg.com mheducation.com/h Exercise 10-9 straight-Line: Bond computations, amortization. and bond retirement LO P2. P4 /The following informavon applies to the questions displayed belowi On January 1, 2015. Shay lssues $260,000 of 8%, 20-year bonds at a pnce of 96.75. Six years later, on January 1, 2021, Shay retires 20% of these bonds by buying them on the open market at 105.25. All Interest lis accounted for and pald through December 31, 2020, the day before the purchase. The straight line method is used to amortize any discount References Section Break Exercise 10-9 Straight-Line: Bond computations, amortization, and bond retirement LO P2 P4 13 value: 0.50 points Exercise 10-9 Part 1 1. How much does the company receive when it issues the bonds on January 1, 2015? Chapter 10-Homew Required Information A 4) 1:18 PM
 

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Maurice Tutor
(5)
Status NEW Posted 29 Apr 2018 09:04 PM My Price 10.00

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