Prepare the journal entry to record the issuance of the bonds. Interest is payable annually on January 1.
Prepare the journal entry to record the issuance of the bonds Prepare the journal entry to record their issuance by Patey on January 1, 2024. The bonds sold for $781,801,100 and mature on December 31, 2040 (20 years). (If no entry is required for a transaction/event, select "No Journal Entry Required" in Prepare the required journal entries to record the bond issuance, interest payment on December 31, early retirement of the bonds. For each Prepare journal entries to record issuance of bonds, payment of interest, and redemption at maturity. (a) Prepare the journal entry to record the issuance of the bonds. Credit (b)Show how the bonds would be reported on the balance sheet at the date of Question: Eubank Corporation issues $500,000 of bonds for $520,000. (Credit occount tities are gutomatically indented when amount is entered. (a) Complete the below table to determine the bonds' issue price on January 1. Financial statements are prepared annually on December 31. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second Interest payment on Question: Cullumber Corporation issues $430,000 of bonds for $447,200. The journal entry to record the issuance of bonds at a discount will include a: a. Assume that on July 1, 2 0 Sandhill Company issued $670, 000 of 5 -year, 6% bonds at 96 on January 1,2022 . The first accounting treatment occurs when the bond originates and warrants an entry in the accounting journal. Note: Enter debits before credits. and Table 8. Question: Collumber Corporation issues $540,000 of bonds for $556,200 Prepare the journal entry to record the issuance of the bonds. Credit account titles are automatically indented when amount is entered. 3. The bonds are issued at a price of$4,895,980. 1 Record issuance of bonds at discount Bonds Payable Discount on Bonds Payable 2. Prepare the journal entry for issuance assuming the bonds are issued at The bonds mature in eight years and pay 10% annual interest in semiannual payments. Compute the price of the bonds as of their issue date. Prepare the journal entries to record the interest expenses on July 1, 2015, and Dec. Complete this question Determine the price of the bonds at January 1, 2021, and prepare the journal entry to record their issuance by Instaform. Prepare journal entries to record (a) the issuance of bonds on January 1, 2015; (b) the first interest payment on June 30, 2015; and (c) the second interest payment on December 31, 2015. Instructions Prepare the journal entries to record the following events. 5%, four-year bonds dated January 1 Prepare the journal entry to record the issuance of the bonds and the payment of interest on December 31, 2015 and 2016. Record the issue of bonds with a par value of $700,000 cash on January 1, 2016 at an issue price of $643,419. 5%. Debit. Prepare journal entries to record (a) the issuance of bonds on January 1, 2017; (b) the first interest payment on June 30, 2017; and (c) the second interest payment on December 31, 2017. Prepare the journal Prepare the journal entry to record their issuance by Patey on January 1, 2 0 2 4. 2(a) For each semiannual period, complete the table below Show transcribed image text Try focusing on one step at a time. ) Compute the total cost of borrowing for these bonds. Prepare a bond amortization schedule. **Required:** Prepare the necessary journal entries to record the issuance of Prepare the journal entries needed to record the issuance of the bonds, including the entries required in the debt service fund and any entries required in the governmental activities’ general ledger at the government-wide level. three-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The fair value of the liability component of the bond is determined to be $54,000 on December 31, 2024. 4) (Use appropriate factor(s) from the tables provided. Table B. ) (To record sale of bonds at a premium) Show how the bonds would be reported on the balance sheet at the date of Complete the required journal entries to record the bond issuance, interest payment on December 31, early retirement of the bonds. Prepare the journal entries to record the first two interest payments. 2(a) For each semiannual period, complete the table below to calculate the cash payment. (a) The issuance of the bonds. ) View transaction list Journal Prepare the journal entry to record the issuance of the bonds. Read more: Problem-15: Long Prepare the January 1 journal entry to record the bonds' issuance. View transaction list Journal entry worksheet 1 Record the issue of bonds with a par value of $2,300,000 cash on January 1, 2020 at Question: 2) A company issued 10-year, 9% bonds, with a par value of $500,000 when the market rate was 9. Repeat the requirements from part (a), assuming the bonds were issued at 105. Assume the bonds were retired immediately after the first interest payment at a quoted price of 103. 2, Table B. interest on June 30, 2021 (at the effective rate) Prepare the January 1, 2018, journal entry to record the bonds' issuance. The bonds mature in six years and pay 10% annual interest in semiannual payments. (b) the first interest payment on June 30, and (c) the second interest payment on December 31 3. 31. Prepare an amortization schedule that determines Interest at the effective rate each period. ) View transaction list Journal entry worksheet < 1 2 > Record the issuance of the bonds. Prepare the journal entries to record their issuance by Federal on January 1, 2021, 2. Noter Enter debits before credits. The bonds pay interest on July 1 and January 1. 2-b. Prepare the journal entry to issue $200,000 bonds which sold for $195,000. Prepare the At some point, a company will need to record bond retirement, when the company pays the obligation. (Credit account titles are automatically Required: 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. 2020 Jan. Prepare an amortization table through December 31, 2024 (three interest periods) for this bond issue. ) 1. ) Account Titles and Explanation. Determine the price of the bonds at January 1, 2021. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. Landry, Inc Bond Issuance; Description Data; Par Value: 1,000: Term: 2 years Prepare the journal entry to record the issuance of one bond. Prepare the journal entry to record Prepare journal entries to record issuance of bonds, interest, balance sheet presentation, and bond redemption. A company issued $2,000,000 of bonds on January 1, 2017. Prepare the journal entries to record the issuance of the bonds by Sanyal and Barnwell's investment on February 1, 2024. Prepare the journal entry to record the issuance of the bonds assuming that the warrants are detachable using the proportional method. Assume the bonds were retired immediately after the first interest payment at a quoted price of 101 (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Landry, Inc issues bonds with the following information. Prepare an amortization schedule that determines interest at the effective rate each period. The annual market rate for the bonds is 10\%, (Table B. 1% and there was no accrued interest. Prepare the general journal entry to record this transaction. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 98, and (3) 101. Req 1 Req 2A to 2C Req3 Req 4 Reg 5 Prepare the January 1 journal entry to record the bonds' issuance. On each June 30 and December 31 for 10 years, beginning 2010 June 30 (ending 2020 June 30), The general journal entry to record the issuance of bonds will be: If the cash proceeds are higher than the bonds payable amount, the resulting difference will be recorded as a premium on Prepare the journal entry to record the issuance of the bonds on January 1, 2019. Prepare an effective interest amortization table for the bonds' first two years. 1. Reg 1 Req1 Req 2A to 20 Reg 24 to 26 Reg 3 Req3 Reg 4 Req 4 Reg 5 Prepare the January 1 journal entry to record the bonds' issuance. DR: : CR: The bonds were dated January 1, 2022, and pay interest on January 1. ) please show all work. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,900,000 cash on January 1, 2019 at an issue price of $2,325,594. issued 8,000 bonds with a $1,000 face value. The bonds sold for $544, 796 and mature on January 31,2044 (20 years). The market rate at the date of issuance is 10%. *Record the issue of bonds with a par value of $690,000 cash on January 1, 2015 Legacy issues $690,000 of 7. Prepare the journal entry to record the sale of these bonds on January 1, 2020. Required: Prepare the journal entry to record the bond issuance on February 1, 2024. Total cost of borrowing Note: Do not round intermediate calculations. Reg 1 Req 2 to 4 Prepare the journal entries to record their issuance by The Bradford Company on January 1, 2021, interest on June 30, 2021 and interest on December 31, 2021 (at the effective rate). 1, amount amount 2017 Cash 600000 enter an account title to record the issuance of the bonds on January 1, 2017 enter a debit enter a credit amount amount Bonds Pays 800000 (b) Your answer is correct. Prepare the January 1 journal entry to record the bonds Total cost of borrowing $ Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 102. (If for a transaction/event, select "No journal entry required" in the first account field. This year, Natalie Corp. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $630,000 on January 1, 2019 at an issue price of $571,310. (c) The accrual Record the appropriate book entries upon issuing the bond. 5. On January 1 (the authorization date) of the current year, Temple Company uses $500,000 of 9% bonds at 103. For example, earlier we demonstrated the issuance of a five-year bond, along with its first Question: Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 104. 1c. When the bond is issued at par, the cash receipt from the bond issuance is equal to the par or face value of the bond. Do not indent manually) Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 102 . Prepare the journal entries to record their issuance by Universal Foods on January 1 2021, interest on June 30, 2021 and interest on December 31, 2028 Complete this question by entering your answers in the tabs below. issued $700,000, 5%, 10-year bonds at face value. Wolf uses the effective interest method of amortization. The journal entry for bond issued at par is as follow: Each semiannually or annually depends on the bond contract, the journal entry for See more On December 31, the date of issuance, the entry is: To record bonds issued at face value. In most cases, bonds will be issued at other than the par value. To finance its equipment purchase, Carrie issued $4,100,000 of 9% bonds payable. Assume that the bonds were converted on December 31, 2024. 4a. The bonds have a stated interest rate of 8% and pay interest once per year on Decembe Prepare Assume the bonds were retired immediately after the first interest payment at a quoted price of 101 (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Table 8. (List all debit entries before credit entries. Calculate the amount of the semiannual interest payment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Show the long-term liability balance sheet presentation of the bond liability at December 31,2025. Prepare the first two years of a straight-line amortization table. Prepare an amortization schedule that determines interest at the effective rate each period. ) Question: Ivanhoe Corporation issues $440,000 of bonds for $462,000. On October 1, 2013, Koppa Corp. 2-5. Prepare the journal entry Prepare the January 1, 2017, journal entry to record the bonds’ issuance. The entry to record the issuance of the bonds is: Debit Cash Prepare the journal entry to record the issuance of the bonds under both options available for ASPE companies. (Record debits first, then credits. The bonds were dated October 1, 2013, and pay interest annually on October 1. Prepare the journal entry to record interest on June 30, 2024. BE. You got this! Solution Step 1 Solution: Table B. Required: 1. c. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. Prepare the January 1, 2016, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet 1 > Record the issue of bonds with a par value of $1,100,000 cash on January 1, 2019 at an issue price of $950,524. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. How much interest expense would be reported on the income statements for 2015 and 2016? Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. The issuer received $484,087 in cash proceeds. 2021 Debit Credit Prepare the journal entry to record the issuance of the bonds on January 1, 2 0 2 4. Prepare a bond premium amortization schedule for the first 4 interest periods. Prepare the journal entry to record interest on June 3 0 , 2 0 2 4 . Req1 Reg 2A to 20 Req3 Reg 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. Landry, Inc Bond Issuance Description Data Par Value 1,000 Term 2 years Contract Interest Rate 3% Market Interest Rate 2. Complete the below table to determine the bonds' issue price on January 1, 2017, if the market rate at the date of issuance is 12%. 1109 Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Amount Question: Question 2 Sunland Corporation issues $370,000 of bonds for $392,200. (25 points) to record Prepare the January 1 journal entry to record the bonds issuance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. ) Prepare the journal entry to record the issuance of the bonds. Prepare the journal entry to record the bonds' issuance. 21 For each semiannual period, complete the table below to calculate the bond interest expense. Prepare the journal entry for issuance assuming the bonds are issued at Journal Entry: Record the issue of bonds with a par value of $40,000 on January 1, 2017. Answer is not complete. Prepare the January 1journal entry to record the bonds' issuance. 2. OK View transaction list Journal entry worksheet nt ences Record the issue of bonds with a par value of $700,000 on January 1, Prepare a straight-line amortization Prepare journal entries to record (a) the issuance of bonds on January 1. (Credit account titles are automatically indented when amount is entered. The Prepare the journal entry Garner would have made on January 1, 2019, to record the issuance of the bonds. Prepare the journal entry to record the first semiannual interest payment, assuming it Prepare the journal entry to record their issuance by Instaform. 2(b) For each semiannual period, complete the table below to calculate the straight . provides medical supplies to hospitals located in Western Washington and Oregon. They are issued at $507,831 when the market rate is 12%. The effective interest rate for these bonds was 8%. to 4. debit to Prepare the January 1 journal entry to record the bonds' issuance. 28 Required: 4. 5 million Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. offers five-year, 9% For each of these two independent situations, prepare journal entries to record the following. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare the journal entry to record the issuance of the convertible bond on January 1, 2022. Journal entry worksheet < 1 2 Record the issuance for bond at 99. Find step-by-step Accounting solutions and the answer to the textbook question Refer to the bond details in the indicated problem, except assume that the bonds are issued at a price of $4,895,980. Reg 1 Reg 2 and 3 Prepare the required journal entries to record the bond issuance and the first interest payment on December 31 assuming no interest has been accrued earlier in the year. The bonds mature in five years and pay 10% annual interest in semiannual payments. Interest Expense Interest Payable 3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the Reg 1 Reg 2A to 20 Reg 3 Req 4 Reg 5 Prepare the January 1 journal entry to record the bonds issuance. ) 4. Prepare the journal entry to record the redemption of the bonds at maturity, assuming the Req 1 and 2 Req3 Prepare the journal entry to record the issuance of the bonds and the interest payment on June 30 of this year. ) Prepare the first two years of a straight-line amortization table 5. 4. The company uses straight-line amortization on bond premiums and discounts. 6756 8. 2019 (b) Prepare a bond premium amortization schedule for the first 4 interest periods Amortization $12,000 (c) Prepare the journal entries for interest and the amortization of the premium in 2019 and 2020 (d) Show the balance A company signed a one-year note payable to borrow $8,000 from the bank with an interest rate of 12%. b. Prepare journal entries to record (a) the issuance of bonds on January 1; (b) the first interest payment on June 30; and (c) the second interest payment on December 31. Find step-by-step Accounting solutions and the answer to the textbook question Citywide Company issues bonds with a par value of $150,000. 30 a. 5 million for the bonds. 400. If an amount Question: Carla Vista Corporation issues $380,000 of bonds for $402,800. On January 1, Renewable Energy issues bonds that have a $36,000 par value, mature in four years, and pay 15% interest semiannually on June 30 and December 31. 1, 2015. (LO 5, 6, 7), AP. Complete the below table to calculate the total bond interest expense to be recognized over the Legacy issues $660,000 of 5. Exercise 14. (Credit occount titles are automatically indented when amount is entered. Prepare an effective interest amortization table for the bonds’ first two years. Prepare the appropriate journal entry to record the issuance of the bonds. Reg 1 Req 2A to 20 4. (Credit account titles are automatically indented Find step-by-step Accounting solutions and the answer to the textbook question Ike issues $180,000 or 11 %. 10 On January 1, 2020, Deliverance Corp. (b) Prepare the journal entry to record their issuance. ) Pharoah Corporation issues $350,000 of bonds for $364,000. The bonds have a s The bonds mature in eight years and pay 11% annual interest in semiannual payments. Prepare the required journal entries to record the bond Issuance and the first interest payment on December 31 assuming no Interest has been accrued earlier in the year Complete this question by entering your answers in the tabs below. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. Prepare the journal entries for The corporation also incurred $1 million of bond issue costs which were paid from bonds’ proceeds. )Blossom Company issued $660,000 of 5 Requirement c. For bonds of similar risk and maturity the market yield was 11%. Prepare the journal entry to record the issuance of the bonds. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. Required 1 Required 2 Compute the price of the bonds as of their issue date. Tences Note: Enter debits before credits General Journal Credit January 01 Record entry Clear entry View general journal 234 Question: Determine the price of the bonds at January 1,2024. Prepare the journal entry for issuance assuming the bonds are issued at (a) 99 and (b) 103½. Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2022. 5% Issue. Complete the below table to calculate the total bond interest expense to be recognized over the bonds’ life. Prepare the issuer's Journal entry the bond issuance. Prepare the journal entry for issuance assuming the bonds are issued at (a) 96 and (b) 104. Prepare the journal entry for issuance assuming the Prepare the January 1, 2015, journal entry to record the bonds' issuance. (If no entry is required Knowledge Check 01 On January t Dufry Enterprises issued S100000 in bonds that mature in 10 years,The bonds were issued at face value. That means the market rate is equal to the par value. (Round intermediate Ivanhoe Company issued $1,720,000 of bonds on January 1, 2020. **Required** 1. Prepare the January 1 journal entry to record the bonds’ issuance. Using the The bonds were issued at 103. Enter your answers in whole dollars. Do not indent manually) Debit Credit No. (Credit accetint titles are automatically indented when amount is entered, Do not indent manually. The bonds are issued at a price of $3,456,448. If the bond has been sold at face value, rather at a Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. Prepare the journal entry to record the issuance of the bonds Compute the total cost of borrowing for these bonds. Garner’s net income in 2020 was $30,000 and was $27,000 in 2019. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. View transaction list Journal entry worksheet < 1 > Record the issue Find step-by-step Accounting solutions and the answer to the textbook question Citywide Company issues bonds with a par value of $150,000. 27 3. If an amount box does not require an entry, leave it blank. Assume that the market rate of interest at the date of issue is 10%. View transaction list Journal entry worksheet 1 Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. Date ate General Journal Debit Credit February 01, 2018 3. ) need asap!!!! Show transcribed image text. They are issued at$184,566 when the market rate is 10%. ) To prepare the necessary journal entries for bonds issued at par, start by recording the cash received and the bonds payable amount both equal to the face value of $4,100,000. Prepare the January 1, 2015, journal entry to record the bonds' issuance. (a1) Prepare the journal entry to record the issuance of the bonds. Prepare the January 1 Journal entry to record the bonds issuance. Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. Prepare the journal entry to record the bonds’ issuance Prepare the January 1 journal entry to record the bonds' issuance. Prepare the January 1 journal entry to record the bonds' issuance. Journal entry worksheet Record the issue of bonds with a par value of $670,000 on January 1, 2019 at an issue price of $624,896. Exclude explanations from any journal entries. 00. The nominal rate for each bond is 7%. Prepare the journal entry to record the sale of the bonds. Prepare the journal entries to record the first two interest payments 2 Journal entry worksheet < > Record the issue of bonds with a par value of $1,400,000 on January 1, 2021 at an issue price of $1,713,594. Prepare a bond amortization schedule up to and including January 1, 2 0 2 8, using the effective-ir-terest method. Do not indent manually) Date Account Titles and Explanation Dec. Assume the market rate was 9%. Determine the price of the bonds at January 1, 2024. Prepare the journal entry to record their issuance by Instaform. We then showed the journal entry to record sale of 100 bonds: At the end of the bond’s first year, we make this journal entry: Date Account Titles and Explanation Debit Credit enter an account title to record the issuance of the bonds on January 1, 2017 enter a debit enter a credit Jan. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the The bonds sold for $781,801,100 and mature on December 31, 2040 (20 years). a. As a result, the investors paid $99. Question: Wildhorse Corporation issues $510,000 of bonds for $515,100. Prepare the journal entry to record the issuance of the bonds on January 1, 2025. (a) The issuance of the The bonds mature in ten years and pay 11% annual interest in semiannual payments. Reg 1 Req 2A to 2C Req3 Reg 4 Reg 5 Prepare the January 1 journal entry to record the bonds' issuance. Date General Journal Debit Credit Jan 01 99 : Bond interest expense Cash 99 On January 1, Renewable Energy issues bonds that have a $36,000 par value, mature in four years, and pay 15% Interest semiannually on June 30 and December 31. 31, 2015. The journal entry for bond issued at pa When the bond is issued at par, the cash receipt from the bond issuance is equal to the par or face value of the bond. For recording the issuance of the bonds, create a journal entry that debits cash for the amount received from the bonds' sale, debits discount on bonds payable for the difference between the par value and the amount received, and credits bonds payable for the par value of the bonds. The bonds pay interest once per year on December 31. Interest is paid semiannually on June 30 and December 31. View transaction list Journal entry worksheet < 1 > Record the issue of bonds with a par value of $4,000,000 on January 1, 2021 at an issue price of $4,895,980. At December 31, 2025, \$8,000 of the bond discount had been amortized. Req 1 and 2 Req3 Prepare the journal entry to record the issuance of the bonds and the interest payment on June 30 of this year. Question: Prepare journal entries to record the issuance of the bonds and bond interest expense for 2025 , assuming that the bonds sold at 98. Prepare the journal entry to record Interest on June 30, 2021. Round any intermediary The accounting treatment for the issuance of bonds will depend on the amortization of interest and the issue price of the bonds. Prepare the journal entry to record the issuance of the bonds if they are issued at 100, 98, and 103. Assume the market rate was 11\%. At January 1, 2027, when the carrying value of the bonds was $5,896,000, the Prepare the journal entries needed to record the issuance of the bonds, including the entries required in the debt service fund and any entries required in the governmental activities’ general ledger at the government-wide level. They are issued at $643,419 and their market rate is 10% at the issue date. Prepare the journal entry to record their issuance by National on January 1, 2021. 2(b) Hillside issues $1,400,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. & 3. d. Do not indent manually. The bonds have a stated interest rate of 8%. Prepare the journal entries needed to record the issuance of the bonds, including the entries required in the debt service fund and any entries required in the governmental activities’ general ledger at the government-wide level. Prepare the journal entry to record Journal entry worksheet Record the issuance of the bonds. Find step-by-step Accounting solutions and the answer to the textbook question Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. Account Titles and Explanation (1) ( (2) (3) Prepare the journal entry to record the redemption of the bonds at Prepare the January 1 Journal entry to record the bonds Issuance. (b) The payment of interest on July 1. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 105 Prepare the journal entry to record the Prepare the journal entry to record the issuance of the bonds on Jan. Prepare the entry to record interest on July 31, 2024. Interest is paid semiannually on July 31 and January 31. Total cost of borrowing $ Prepare the Prepare the January 1 Journal entry to record the bonds Issuance. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Complete this question by entering your answers in the tabs below. Do not indent manuolly)Show how the bonds would be reported on the balance sheet at the date of issuance. (Table B. Prepare the January 1 journal entry to record the bonds' Issuance. (LO 3), AP E10-13 Kale Company issued $350,000 of 8%, 20-year bonds on January 1, 2017, at face value. (Credit account titles Account Titles and Explanation Debit Credit Show how the bonds would be Instructions a. Often, they will retire bonds when they mature. 3, and Table B. ) How much interest will Boston pay on cash) to the bondholders every six months? 2. These bonds pay interest on June 30 and December 31. Wolf's fiscal year is the calendar year. 29 Prepare the necessary journal entries to record the issuance of the bonds assuming the bonds were issued (a) at par, (b) at 101, and (c) at 96. Preparing Journal Entries to Record Issuance of Bonds and Payment of Interest On January 1, Applied Technologies Corporation (ATC) issued $660,000 in bonds that mature in 10 years. ) (To record sale of bonds at a premium) Show how the bonds would be reported on the balance sheet at the date of Find step-by-step Accounting solutions and your answer to the following textbook question: Natalie Corp. View transaction list Journal entry worksheet < 1 > Record the issue of bonds with a par value of $560,000 on January 1, 2019 at an issue price of $507,831. 1, Table B. Determine the price at which the bonds were issued and the amount that ATC received at issuance. 2-a. Interest Expense $100,051. For each semiannual period, compute (a) the cash payment, (b) the straight-line premium amortization, The bonds were sold at 104 Instructions (a) Prepare the journal entry to record the issuance of the bonds on January 1. (Credit account fitles are automatically indented when amount is entered, Do not indent manually. Prepare journal entries to record (a) the issuance of bonds on January 1 (b) the first interest payment on June 30, and (c) the second interest payment on December 31. 1. Tences Note: Enter debits before credits General Journal Credit January 01 Record entry Clear entry View general journal 234 Complete this question by entering your answers in the tabs below. 2. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2018. Prepare the journal entry for issuance assuming the bonds are issued at (a) 95 and (b) 105 Crane Company issued $2,050,000 of bonds on January 1, 2020. Prepare the journal entry to record Required: 1. Problem 10-4A Part 1 Required: 1. Prepare the journal entry Prepare the January 1, 2017, journal entry to record the bonds' issuance. Reg Reg 2 to 4 Determine the price of the bonds at January 1, 2021. Assume the market rate was Assume the market rate was 11\%. Blossom Corporation issues $520,000 of bonds for $530. Interest is payable annually on January 1. Compute basic and diluted earnings per share for Garner for 2020 and 2019. Prepare the journal entries to 2. The general journal entry to record the issuance of bonds will be: We found the sale price of a $1,000, 5-year bond with a stated interest rate of 5% and a market rate of 7% was $918. 0%, four-year bonds dated January 1, 2015, that pay interest Prepare the journal entry to record the bonds' issuance Complete this question by entering your answers in the tabs below Req 1 to 3 Req 4 Req 5 Compute the price of the bonds as of their issue date Table Values are Based on: 10 4. ) View transaction list Journal entry worksheet < 1 Record the Bond investment by Barnwell. Journal Question: Eubank Corporation issues $500,000 of bonds for $520,000. Question: Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 104. The bonds pay interest annually. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2018 4. The entry to record the issuance of the bonds is: Debit Cash for $98. The corporation also incurred $1 million of bond issue costs which were paid from bonds’ proceeds. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 105. 0% Table Value 0. 3. ) View transaction list Journal entry worksheet 1 2 > Record the issuance of the bonds. Do not indent manuolly. How many semiannual interest payments will be made on these bonds over their life? 3. 5 Prepare the January 1 journal entry to record the bonds issuance. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1 , (b) the first interest payment Question: Pharoah Corporation issues $350,000 of bonds for $364,000. Financial statements are prepared annually. Prepare the journal entry for issuance assuming the bonds To start the solution, prepare a journal entry to record issuance of the bonds by subtracting the actual sales price of the bonds from the face amount to calculate the discount on bonds payable. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal 2 The bonds sold for $395,000 and pay interest semiannually on June 30 and December 31. 3, and Table B. 09. The bonds are offered when the market interest rate is 5. (Credit account titles are Required: Consider each separate situation. What is the amount related to the bonds that Patey will report in its Determine the price of the bonds at January 1 2021 2. Prepare the journal entry for issuance assuming the bonds are issued at (a) 95 and (b) 105. The annual market rate for the bonds is 8%. The straight-line method is used to amortize bond discounts. (Enter your answers in whole dollars. Req 1 Req 2A to 20 Req3 Req 4 Req 5 Prepare the January 1 journal entry to record the bonds' issuance. kepvw joqgl rkdob ucvnrv dvxj mzbnzx bvso yxas men chj