woodwick company issues 6 five year bonds on december 31 2012 with a par value of 10 709327
Aug 30, 2021 | Uncategorized
|
Woodwick Company issues 6%, five year bonds, on December 31, 2012, with a par value of $102,000 and semiannual interest payments.
| Semiannual Period End |
Unamortized Premium |
Carrying Value |
| (0) |
12/31/2012 |
|
$ |
8,151 |
|
$ |
110,151 |
|
| (1) |
6/30/2013 |
|
|
7,336 |
|
|
109,336 |
|
| (2) |
12/31/2013 |
|
|
6,521 |
|
|
108,521 |
|
|
| Use the above straight line bond amortization table and prepare journal entries for the following. |
| (a) |
The issuance of bonds on December 31, 2012.
|
| (b) |
The first interest payment on June 30, 2013. |
| (c) |
The second interest payment on December 31, 2013. |
|
