A company retired $60 million of its 6% bonds at 102 ($61.2 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million. Prepare the journal entry to record the redemption of the bonds.

On the first day of the fiscal year, a company issues an $314,000, 6%, 5-year bond that pays semiannual interest of $9,420 ($314,000 x 6% x 1/2), receiving cash of $295,200. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.

A company previously issued $2,000,000, 10% bonds, receiving a $120,000 premium. On the current year's interest date, after the bond interest was paid and after 40% of the total premium had been amortized, the company calls the bonds at $1,960,000. Prepare the journal entry to record the retirement of these bonds on January 1 of the current year.

Blue Corporation issued 2,100 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling in the market at 98, and the warrants had a market price of $41.Use the proportional method to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round your answers to 0 decimal places, e.g. 5,125.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

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.

On the first day of the fiscal year, a company issues an $800,000, 6%, 5-year bond that pays semiannual interest of $24,000 ($800,000 x 6% x 1/2), receiving cash of $690,960. Journalize the entry for the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.

A company issued $93,000 bonds at 108. If the total interest payments during the term of the bond adds up to $70,000, then the interest expense over the bond's term will be: Type your numeric answer and submit 85560 Correct Answer: v 62560.0

Pina Colada Corp. issues $2.80 million, 10-year, 6% bonds at 98, with interest payable each January 1. (a) Assuming instead that the above bonds sold for 102, prepare the journal entry to record the sale of these bonds on January 1. 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan, 1 Cash Bonds Payable Premium on Bonds Payable Debit Credit

Wildhorse Corporation issued $410,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $379,250, the company redeemed the bonds at 94. Prepare the entry to record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

On May 1, 2020, Stellar Company issued 1,900 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at 98, but the fair value of the warrants cannot be determined.(a) Prepare the entry to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (b) Assume the same facts as part (a), except that the warrants had a fair value of $25. Prepare the entry to record the issuance of the bonds and warrants. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.)