Please break this question down for me, I\' m all the way confused and I would l
ID: 2501217 • Letter: P
Question
Please break this question down for me, I'm all the way confused and I would like to make sure I'm putting the correct information in the right area's. Not understanding this chapter.
The question below is one full question. HELP :( (3)
Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194.
Please look over my answer's if they are incorrect please break it down in a doc to help. thanks again! New to accounting :)
Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194.
Please look over my answer's if they are incorrect please break it down in a doc to help. thanks again! New to accounting :)
Explanation / Answer
1.
2(a)
(b)
(c)
3.
4.
Date Account titles and explanations Debit Credit Jan 01,2015 Cash 1591194 Bonds payable 1300000 Premium on bond 291194