On may 12011 newby corp issues 60000 9 5-year bonds at face

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Reference no: EM13602125

On may 1,2011 Newby Corp issues $600,00, 9% 5-year bonds at face value. The bonds were dated may 1, 2011 and pay interest semiannually on may 1 and november 1 financial statements are prepared annually on december 31

a. Prepare the journal entry to record the issuance of the bonds
b. Prepare the adjusting entry to record the accrual of interest on December 31, 2011
c. Show the blanace sheet presentation on December 31, 2011
d. Prepare the journal entry to record payment of interest on May 1, 2012 assuming no accrual of interest from january 1, 2012 to may 1, 2012
e. prepare the journal entry to record payment of interst on November 1, 2012
f. assume that on november 1, 2012 newby calls the bonds at 102. Record the redemtion of the bonds.

Reference no: EM13602125

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