A company received cash proceeds of $206,948 on a bond issue with a par value of $200,000. The difference petween par value and issue price for this bond is recorded as a: O Credit to Interest Income O Credit to Premium on Bonds Payable O Credit to Discount on Bonds Payable O Debit to Premium on Bonds Payable O Debit to Discount on Bonds Payable

Bonds Payable has a balance of $987,000 and Premium on Bonds Payable has a balance of $10,857. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? Select the correct answer. a-$10,857 loss b-$8,883 gain c-$10,857 gain d-$8,883 loss

A $300,000 bond was redeemed at 104 when the carrying amount of the bond was $316,000. The entry to record the redemption would include a Oa. loss on bond redemption of $3,000 Ob. gain on bond redemption of $3,000 Oc. loss on bond redemption of $4,000 Od. gain on bond redemption of $4,000 7 a I' B in 20 D W 14 Previous Next ^04) O

What is the correct choice? A $200,000 bond issue with a carrying value of $194,000 is called at 101 and retired. The entry to record the retirement of bonds is:   a. Bonds Payable            200,000                            Gain on Retirement      of Bonds                                     6,000           Cash                                        194,000             b. Bonds Payable            200,000                            Cash                                        200,000             c. Bonds Payable            200,000                       Loss on Retirement of Bonds                         8,000                            Unamortised Bond      Discount                                     6,000           Cash                                        202,000        d. Bonds Payable            194,000                       Loss on Retirement of Bonds                         8,000                            Cash…

Bonds Payable has a balance of $900,000 and the Premium on Bonds Payable account  has a balance of $45,000. The carrying amount of the bonds is:   Group of answer choices $945,000 $45,000 $900,000 $855,000

A $1,000,000 bond issue on which there is an unamortized premium of $71,600 is redeemed for $1,051,500. Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles.   Chart of Accounts     CHART OF ACCOUNTS   General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable 122 Allowance for Doubtful Accounts 126 Interest Receivable 127 Notes Receivable 131 Merchandise Inventory 141 Office Supplies 191 Land 194 Office Equipment 195 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 221 Salaries Payable 231 Sales Tax Payable 232 Interest Payable 241 Notes Payable 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable   EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331…

If $1,000,000 of 8% bonds are issued at 102 3/4, the amount of cash received from the sale is

Presented below is the partial bond discount amortization schedule for Pharoah Corp. Pharoah uses the effective-interest method of amortization. Interest Periods Issue date 1 2 Interest to Be Paid $117,000 117,000 Interest Expense to Be Recorded $124,981 125,380 Discount Amortization $7,981 8,380 Unamortized Discount Debit $100,383 92,402 84,022 Bond Carrying Value Credit $2,499,617 2,507,598 (a) Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation 2,515,978

Instructions: Provide the journal entry where bonds were sold at a premium. Candlestick Inc. sold bonds for $105,000 (105% face value) rather than for $90,000.

in ESPAÑOL INGLÉS FRANCÉS Under what conditions is the current portion of long-term debt reported as current debt? to. If it is to be paid with the issuance of a 36-month note payable. b. If it is going to be paid with working capital. С. If it is going to be paid with the issuance of Bonds Payable. d. If you are going to pay with common shares of the company. Enviar comentarios MacBook Air DII DD