COPY PASTE WILL DOWNVOTE Swoot, Inc issued serial bonds on January 1, 2020 that mature 5 years later on December 31, 2024. There are 2,500 bond issued with a face value per bond of $1,000. The stated rate is 8% and the market rate is 9%. In the box below, provide the journal entry for December 31, 2022 (round all numbers to the whole dollar using 5/4 rounding and no commas, enter debits as positive number and enter credits in brackets "()").

COPY PASTE WILL DOWNVOTE Swoot, Inc issued serial bonds on January 1, 2020 that mature 5 years later on December 31, 2024. There are 2,500 bond issued with a face value per bond of $1,000. The stated rate is 8% and the market rate is 9%. In the box below, provide the journal entry for December 31, 2022 (round all numbers to the whole dollar using 5/4 rounding and no commas, enter debits as positive number and enter credits in brackets "()").

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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9.2 On Jan. 1, 2018, UMPI, Inc. issued $600,000 of 10% bonds, due in 5 years. The bonds pay interest semi-annually on July 1 and January 1. The bonds effective yield 12%. UMPI uses the effective-interest method (see PV Tables next page). Prepare UMPI’s journal entries for a thru c. The January 1 issuance The July 1 interest payment The December 31 adjusting journal entry Prepare a full Bond Amortization Schedule
Lisa Anderson Company issued $516,000 of 10%, 20-year bonds on January 1, 2025, at 102. Interest is payable semiannually on July 1 and January 1. Lisa Anderson Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.7705% Click here to view factor tables. Prepare the journal entries to record the following. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. с The accrual of interest and the related amortization on December 31, 2025. Date Account Titles and Explanation Debit Credit
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Auerbach Inc. issued 8% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 10%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Top of Form Multiple Choice $24.00 million. $12.00 million. $30.00 million. $15.00 million.
K Optical Dispensary borrowed $960.000 on January 2, 2024, by issuing a 12% serial bond payable that must be paid in three equal annual installments plus interest for the year. The first payment of principal and interest comes due January 2, 2025 Complete the missing information. Assume bonds are issued at face value. (For accounts with a 50 balance, make sure to enter to in the appropriate cell) Current Liabilities Bonds Payable Interest Payable Long-Term Liabilities: Bonds Payable 2024 December 31 2025 2026
Swoot, Inc issued serial bonds on January 1, 2020 that mature 5 years later on December 31, 2024. There are 2,500 bond issued with a face value per bond of $1,000. The stated rate is 8% and the market rate is 9%. In the box below, provide the journal entry for December 31, 2022. Round all numbers to the whole dollar using 5/4 rounding and no commas, enter debits as positive number and enter credits in brackets "()."
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A business is planning to issue 10%, 6-year bonds with a par value of $525,000 on January 1 of the current year. The bonds pay semiannual interest on June 30 and December 31. Assuming the market rate for the bonds on the issue date is 8%, compute the total cash proceeds from the bond issue. Note: Use factor(s) from tables provided. Round "Table value" to 4 decimals and final answer to the nearest whole dollar. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Table Values are Based on: Cash Flow Present (maturity) value Interest (annuity) Total cash proceeds n = Table Value Amount Present Value
answer in text form please (without image), Note: .Every entry should have narration please