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Student Name:
Class:
Cash Effective Increase in Outstanding
Pay- Payment Interest Balance Balance
ment 4.5% 5%
96,768
14,500 4,838 338 97,106
24,500 4,855 355 97,461
Cash Recorded Increase in Outstanding
Pay- Payment Interest Balance Balance
ment 4.5%
100,000 96,768
14,500 4,904 404 97,172
24,500 4,904 404 97,576
Debit Credit
4,911 «- Correct!
BRADLEY RECREATIONAL PRODUCTS
Problem 14-03
McGraw-Hill/Irwin
Instructor
Amortization Table Straight-Line Method
BRADLEY RECREATIONAL PRODUCTS
Requirement 1:
Requirement 3:
Amortization Table at Effective Interest Rate
Interest expense
(effective interest)
Account
Requirement 2:
General Journal
BRADLEY RECREATIONAL PRODUCTS
100,000$
Given Data P14-03:
BRADLEY RECREATIONAL PRODUCTS
Bond issue
Student Name:
Class:
23,267,556$
Cash Effective
Payment Interest Increase in Outstanding
4.5% 5% Balance Balance
77,414,756
13,600,000 3,870,738 270,738 77,685,494
Cash Effective
Interest Interest Increase in Outstanding
4.5% 5% Balance Balance
77,415
13,600 3,871 271 77,686
23,600 3,884 284 77,970
Amortization Schedule
CROMLEY MOTOR PRODUCTS
Amortization Schedule
BARNWELL INDUSTRIES
Requirement 2:
McGraw-Hill/Irwin
Instructor
Interest
Requirement 1:
Problem 14-05
Cromley Motor Products
Student Name:
Class:
McGraw-Hill/Irwin
Instructor
Problem 14-05
Debit Credit
77,414,756
Debit Credit
3,870,738 «- Correct!
270,738
3,600,000
Cash
February 1, 2016 (Cromley)
Account
Requirement 3:
General Journal
General Journal
July 31, 2016 (Cromley)
Requirement 4:
Account
July 31, 2016 (Barnwell)
Interest expense
Discount on bonds payable
Cash
Student Name:
Class:
McGraw-Hill/Irwin
Instructor
Problem 14-05
3,898,488 «- Correct!
298,488
3,600,000
Cash
Interest expense
Discount on bonds payable
July 31, 2017 (Cromley)
Given Data P14-05:
CROMLEY MOTOR PRODUCTS
Student Name:
Class:
274,545,440$
56,820,000
Requirement 3:
Debit Credit
16,568,272 «- Correct!
Debit Credit
16,596,686 «- Correct!
Problem 14-07
McGraw-Hill/Irwin
Instructor
Requirement 1:
Interest
Principal
McWHERTER INSTRUMENTS
Account
December 31, 2016 (McWherter)
Interest expense
General Journal
Account
Requirement 4:
General Journal
June 30, 2016 (McWherter)
Interest expense
McWHERTER INSTRUMENTS
400,000,000$
Given Data P14-07:
Bond issue by McWherter Instruments
Student Name:
Class:
15,849$
Debit Credit
84,150
Requirement 2:
Effective
Dec. Cash Interest Increase in Outstanding
31 Payment 10% Balance Balance
84,150
2016 5,000 8,415 3,415 87,565
Debit Credit
9,132 «- Correct!
McGraw-Hill/Irwin
Instructor
Requirement 1 Present value (price) of note:
General Journal
A&G WAREHOUSERS
A&G WAREHOUSERS
Equipment
Amortization Schedule
Amortization Schedule
Problem 14-13
Interest
Account
Requirement 3:
Account
General Journal
A&G WAREHOUSERS
Interest expense
Student Name:
Class:
McGraw-Hill/Irwin
Instructor
Problem 14-13
84,150$
Effective
Dec. Cash Interest Decrease in Outstanding
31 Interest 10% Balance Balance
84,150
Debit Credit
Amortization Schedule
General Journal
A&G WAREHOUSERS
Account
Requirement 6:
Requirement 4:
Requirement 5:
Loan Amount
100,000$
Given Data P14-13:
A&G WAREHOUSERS
Note issue
