ACCT 202 Summer II 2018 Homework Chapter 12 Score 033 of 1 p

ACCT 2)02 Summer II 2018 Homework: Chapter 12 Score: 0.33 of 1 pt 9 of 10 (10 complete) E12-26 (similar to) 104 Assure anual est payment Soaview Magame nsuedS60,000ofisyear. 6% calatie bonds payatle an My 31, 2018, at?On My 31, 2021. Senew caled the bords Requirements 1 Without making journal entries, compune the carrying amount of the bonds payable at 3uly 31, 2023 2. Assume all amotization hars been recorded property.Journalie the retrement of the bonds on July 31. 2021 No explantion is required Requirement 1. W hot making purnal e mes, compte the campng amount ofthe ds payable at My21.2021 (Amme bords we anorted?te st lmeanou Frst, complete the sentence below 334 800 The dscount on the bonds at The carrying amount of the bonds payable at uance July 31, 208) ssuance amounts to 25.200 The carrying amount of the bonds payable at July 31, 2021 i339 Gain on Retirement of Bonds Payable Choose trom any ist or enter any number in the inpuit elds and then click Check Answer 2 3 4 6

Solution

Discount Unamortised =Discount on issue- discount Amortized

=25200-25200/15*3 =$20160

	DR	CR
Bond Payable	360000
loss on Retirement of Bond	34560
Cash		374400
Discount of bonds		20160