Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to yield 5%....

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Question 2<br>On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds<br>were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to<br>yield 5%.<br>b) Complete the following table:<br>Cash<br>Paid<br>Interest<br>Discount<br>Carrying amount<br>of bonds<br>Date<br>Expense<br>Amortization<br>April 1 2019<br>April 1 2020<br>April 1 2021<br>April 1 2022<br>April 1 2023<br>c) Journalize the required entries on the following dates<br>April 1, 2019<br>December 31, 2019 - adjusting entry<br>April 1, 2020<br>d) Assume that the on April 1 2022 company calls 60% of the bonds at 103. Journalize<br>the required entry<br>

Extracted text: Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to yield 5%. b) Complete the following table: Cash Paid Interest Discount Carrying amount of bonds Date Expense Amortization April 1 2019 April 1 2020 April 1 2021 April 1 2022 April 1 2023 c) Journalize the required entries on the following dates April 1, 2019 December 31, 2019 - adjusting entry April 1, 2020 d) Assume that the on April 1 2022 company calls 60% of the bonds at 103. Journalize the required entry

Jun 09, 2022

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Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds were issued at 110.63785 , the interest payable annually on April 1. The bonds were sold to yield 5%....

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