Bond premium interest expense

    • [DOC File]CHAPTER 10

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      Dec. 31 Bond Interest Expense 9,600. Premium on Bonds Payable 400. Bond Interest Payable 10,000 (To record accrued bond interest and amortization of bond premium) Over the term of the bonds, the balance in Premium on Bonds Payable will decrease annually by the same amount until it has a zero balance at maturity.

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    • [DOC File]2-0600

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      – the excess of the face value over price for which a bond is issued. Bond Premium – the excess of the price over face value for which a bond is issued. Demand Bonds – contain a put provision that require the issuer to repurchase the bonds at a price equal to the principal plus accrued interest (upon notice from the bond-holder).

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    • [DOC File]FA Chapter 10 SM

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      2. 2007 Nov. 30 Bond Interest Expense 4,006 Discount on Bonds Payable 506 Cash 3,500 To record 6 months’ interest and discount amortization. Dec. 31 Bond Interest Expense 668 Discount on Bonds Payable 84 Interest Payable 584 To record one month's accrued interest

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    • [DOC File]CHAPTER 1

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      Q. (SO7) Bond Interest Expense XX (amount incurred) Bond Interest Payable XX (amount accrued) Unamortized Bond Premium XX (amount amortized) Cash XX (amount paid) Paid semiannual interest including interest previously accrued, and amortized the premium …

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    • [DOC File]P15-2A Kusmaul Electric sold $500,000, 10%, 10-year bonds ...

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      Mar 17, 2010 · This price resulted in an effective-interest rate of 8% on the bonds. Atwater uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1. Hint: Prepare entries to record issuance of bonds, payment of interest, and amortization of bond premium using effective-interest method.

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    • [DOCX File]Chapter 10

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      Under effective-interest amortization, the amount of premium or discount amortized is different each period. Effective-interest amortization of bond premium and discount correctly measures the current cash equivalent amount of the bonds and the interest expense reported on the income statement based on the issuance entry.

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    • [DOC File]CHAPTER 15

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      2002 Dec. 31 Bond Interest Expense 138,118 Discount on Bonds Payable 18,118 Cash 120,000 To record six months’ interest and discount amortization. Part 6 [Note: Parts 1 through 5 are repeated assuming a bond premium.]

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    • Chapter 7

      Investment interest expense that is not deductible because of the net investment income limitation is carried forward and treated as though it is incurred in the next year. ... method used to amortize bond premium under GAAP) to amortize the bond premium semiannually. Ultimately, he will report $599 of interest income from the bond. ...

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    • [DOC File]Practice Problem 2

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      c. The annual interest expense and the premium amortization will be the same over the life of the bonds for the amortization of bond premium. d. The annual interest expense will increase and the discount amortization will decrease over the life of the bonds for the amortization of bond discount. 14. Jolina Corporation recently issued $1,000,000 ...

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    • [DOC File]Chapter 14 Group Work Solutions - Tech

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      a) Selling Price of a Bond. Present Value $800,000 (n=20; i=3%) * .55368 = $442,944. Present Value of Annuity $ 28,000 (n=20; i=3%) * 14.87747 = $416,569

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