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    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

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Category > Accounting Posted 28 Jul 2017 My Price 4.00

Entries for Issuing Bonds

Entries for Issuing Bonds

Grodski Co. produces and distributes semiconductors for use by computer manufacturers. Grodski Co. issued $540,000 of 25-year, 8% bonds on May 1 of the current year, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.

May 1 Issued the bonds for cash at their face amount.
Nov. 1 Paid the interest on the bonds.
Dec. 31 Recorded accrued interest for two months.

 

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Journalize the entries to record the above selected transactions for the current year.

 
 
       

May 1

Correct 2

Correct 3
 
 

Correct 4
 

Correct 5
       

Nov. 1

Correct 7

Correct 8
 
 

Correct 9
 

Correct 10
       

Dec. 31

Correct 12

Correct 13
 
 

Correct 14
 

Correct 15
       

Answers

Alpha Geek
(8)
Status NEW Posted 28 Jul 2017 12:07 PM My Price 4.00

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Attachments

file 1501243445-761614_1_636361688605288618_761614.xlsx preview (165 words )
En-----------tri-----------es -----------for----------- Is-----------sui-----------ng -----------Bon-----------dsG-----------rod-----------ski----------- Co-----------. p-----------rod-----------uce-----------s a-----------nd -----------dis-----------tri-----------but-----------es -----------sem-----------ico-----------ndu-----------cto-----------rs -----------for----------- us-----------e b-----------y c-----------omp-----------ute-----------r m-----------anu-----------fac-----------tur-----------ers-----------. G-----------rod-----------ski----------- Co-----------. i-----------ssu-----------ed -----------$54-----------0,0-----------00 -----------of -----------25------------yea-----------r, -----------8% -----------bon-----------ds -----------on -----------May----------- 1 -----------ofÂ----------- th-----------e c-----------urr-----------ent----------- ye-----------ar,----------- wi-----------th -----------int-----------ere-----------st -----------pay-----------abl-----------e o-----------n M-----------ay -----------1 a-----------nd -----------Nov-----------emb-----------er -----------1. -----------The----------- fi-----------sca-----------l y-----------ear----------- of----------- th-----------e c-----------omp-----------any----------- is----------- th-----------e c-----------ale-----------nda-----------r y-----------ear-----------.Is-----------sue-----------d t-----------he -----------bon-----------ds -----------for----------- ca-----------sh -----------at -----------the-----------ir -----------fac-----------e a-----------mou-----------nt.-----------Nov-----------. 1-----------Pai-----------d t-----------he -----------int-----------ere-----------st -----------on -----------the----------- bo-----------nds-----------.De-----------c. -----------31R-----------eco-----------rde-----------d a-----------ccr-----------ued----------- in-----------ter-----------est----------- fo-----------r t-----------wo -----------mon-----------ths-----------.Hi-----------deJ-----------our-----------nal-----------ize-----------
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