HCS 380 Week 5 WileyPLUS Ex 10-8A, Ex 10-8B, Ex 10-10A, Problem 11-2A, 11-7A NEW

Complete the assigned exercises in WileyPLUS

Excel Problem 10-8A

Excel Problem 10-8B

Problem 11-7A

P10-8A

Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet presentation
and balance sheet presentation

Yung Corporation sold $2,000,000, 7%, 5 year bonds on January 1, 2014.  The bonds were dated January 1, 2014, and pay interest
on January 1.  The company uses straight-line amortization on bond premiums or discounts.

Instructions
(a)        Prepare all necessary journal entries to record the  issuance of the bonds and bond interest expense for 2014,
assuming the bond sold at 102.
(b)        Prepare journal entries as in part (a) assuming the bonds sold at 97.
(c )       Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and
then (2) the 97 selling price
NOTE:  Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” .

P10-8B

Prepare journal entries to record issuance of bonds, interest, straight-line amortization, and balance sheet presentation
and balance sheet presentation

Holmes Corporation sold $2,200,000, 8%, 5-year bonds on January 1, 2014.  The bonds were dated January 1, 2014, and pay interest
on January 1.  Holmes Corporation uses the straight-line method to amortize bond premiums or discounts.

Instructions
(a)        Prepare all necessary journal entries to record the  issuance of the bonds and bond interest expense for 2014,
assuming the bond sold at 102.
(b)        Prepare journal entries as in part (a) assuming g the bonds sold at 98.
(c )       Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price, and
then (2) the 98 selling price
NOTE:  Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” .

P10-10A

Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective interest method.

On January 1, 2014, Lock Corporation issued                                                                                                                                   $1,800,000                              face value,                               5%
10                                -year bonds at                         $1,667,518                              This price resulted in an effective-interest rate of
6%                               on the bonds. Lock uses the effective-interest method to amortize bond premium or
discount. The bonds pay annual interest January 1.