finacc 3

Bonds Issuing Day

Dr. Cash Cr. Bonds Payable

Bonds End of Year

Dr. Interest Expense Cr. Interest Payable

Bonds Beginning of Year

Dr. Interest Payable Cr. Cash

Bonds Maturity Date

Dr. Bonds Payable Dr. Interest Expense Dr. Interest Payable Cr. Cash

Effective Interest Method of Amortization (Discount)

Dr. Interest Expense Cr. Cash Cr. Discount on Bonds Payable

Effective Interest Method of Amortization (Premium)

Dr. Interest Expense Dr. Premium on Bonds Payable Cr. Cash

Straight-Line Method of Amortization (Discount)

Dr. Interest Expense Cr. Discount for Bonds Payable Cr. Interest Payable

Straight-Line Method of Amortization (Premium)

Dr. Interest Expense Dr. Premium for Bonds Payable Cr. Interest Payable

Mortgage Payment Issuing Day

Dr. Cash Cr. Mortgage Payable

Mortgage Payment End of Year

Dr. Interest Expense Dr. Mortgage Payable Cr. Cash

Paid-in Capital

Dr. Cash Cr. Common/Preferred Stock Cr. Paid-in Capital

Declaring Dividend

Dr. Dividends/Cash Dividends Cr. Dividends Payable

Paying out Dividend

Dr. Dividends Payable Cr. Cash

Acquiring Treasury Stock

Dr. Treasury Stock Cr. Cash

Reissuing Treasury Stock

Dr. Cash Cr. Treasury Stock Cr. Paid-in Capital - Treasury

Sales Tax Payment End of Day

Dr. Cash Cr. Sales Revenue Cr. Sales Tax Payable

Payroll

Dr. Salaries and Wage Expense Cr. FICA Tax Payable Cr. Federal Income Tax Payable Cr. State Income Tax Payable

Payroll Tax

Dr. Payroll Tax Expense Cr. FICA Tax Payable Cr. Federal Unemployment Tax Payable Cr. State Unemployment Tax Payable

Warranty Expense Recognition

Dr. Warranty Expense Cr. Warranty Payable