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Assingment 16

The document contains journal entries related to bonds payable transactions including issuing bonds for cash, recording interest expense, and amortizing bond premiums and discounts. The entries debit and credit accounts for bonds payable, interest expense, cash, premiums on bonds, and discounts on bonds.

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Abubakar
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20 views1 page

Assingment 16

The document contains journal entries related to bonds payable transactions including issuing bonds for cash, recording interest expense, and amortizing bond premiums and discounts. The entries debit and credit accounts for bonds payable, interest expense, cash, premiums on bonds, and discounts on bonds.

Uploaded by

Abubakar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Date Description Debit Credit

EX 14-2A
A)
1-Jan CASH 5000000
BOND PAYABLE 5000000
B)
30-Jun INTEREST EXPENSE 150000
CASH 150000
C)
BONDS PAYABLE 5000000
CASH 5000000

EX 14-3A
CASH 2390599
DISCOUNT ON BOND PAYABLE 109401
BOND PAYABLE 2500000

EX 14-4 A
INTEREST EXPENSE 60940
DISCOUNT ON BOND PAYABLE 10940
CASH 50000

EX 14-5 A
CASH 7811873
PREMIUM ON BOND PAYABLE 311873
BOND PAYABLE 7500000

EX 14-6 A
INTEREST EXPENSE 268813
PREMIUM ON BOND PAYABLE 31187
CASH 300000

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