AC 302 CHAPTER 14 QUESTION 4

AC 302 CHAPTER 14 QUESTION 4
Name			Date	
Instructor			Course		
Intermediate Accounting 14th Edition by Kieso Weygandt and Warfield						
Primer on Using Excel in Accounting by Rex A Schildhouse						
						
E14-4 (Entries for Bond Transactions—Straight-Line) Foreman Company issued 						$800,000 
of	10%	20 	-year bonds on January 1, 2013, at			102 
Interest is payable semiannually on July 1 and January 1. Foreman Company uses the straight-line method of amortization for bond premium or discount.						
						
						
Instructions:						
Prepare the journal entries to record the following.						
(a) The issuance of the bonds.						
						
Jan 1, 13	Account Title				Amount	
	Account Title					Formula
	Account Title					Formula
						
(b) The payment of interest and related amortization on July 1, 2013.						
						
Jul 1, 13	Account Title				Formula	
	Account Title				Formula	
	Account Title					Formula
						
(c) The accrual of interest and the related amortization on December 31, 2013.						
						
Dec 31, 13	Account Title				Formula	
	Account Title				Formula	
	Account Title					Formula
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