Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is paid semiannually each June 30 and December 31. Prepare the entries for (a) the issuance of the bonds and (b) the first interest payment on June 30.

Q: On July 1, Year 1, Danzer Industries Inc. issued $48,800,000 of 10-year, 9% bonds at a market…

A: Bonds defined as the units of the corporate debt issued through the companies as well as securitized…

Q: On January 1, the first day of the fiscal year, a company issues a $650,000, 10%, 10-year bond that…

A: Bonds Payable: Bonds payable are generated when a company issues bonds to generate cash. As a bond…

Q: On April 1, Year 1, Greenway Corporation issues $20 million of 10%, 20-year bonds payable at par.…

A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder.…

Q: On January 1, Elias Corporation issued 7% bonds with a face value of $94,000. The bonds are sold for…

A: Bonds will pay fixed amount of interest on face value of the bond on monthly/ quarterly/ half…

Q: On January 1, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years,…

A: The question is based on the concept of Financial Accounting.

Q: Jaurez Company issued $400,000 of 9%, 10-year bonds on January 1, 2010, at face value. Interest is…

A: Journal entry is a process of recording the business transaction in the books of accounts for the…

Q: On January 1, the first day of the fiscal year, a company issues a $5,000,000, 6%, 10-year bond that…

A: Bonds: Bonds are financial debt instruments issued by the corporations to raise for the purposes of…

Q: On the first day of the current fiscal year, $2,000,000 of 10-year, 7% bonds, with interest payable…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: On January 1, a company issued 3%, 20-year bonds with a face amount of $80 million for $69,033,776…

A:

Q: On January 1, the first day of the fiscal year, a company issues an $800,000, 4%, 10-year bond that…

A: BondA bond is an instrument evidencing a debt which is issued for the purpose of raising money…

Q: On January 1, a company issued 5%, 15-year bond with a face amount of 80 million for 59,249,660 to…

A:

Q: Franklin Corporation issues $98,000, 10%, five-year bonds on January 1 for $102,400. Interest is…

A: Compute the unamortized premium as of July 1.   Unamortized premium as of July 1 = Issue price of…

Q: On January 1, Elias Corporation issued 9% bonds with a face value of $88,000. The bonds are sold for…

A: Capital raising sources are: Issue of shares Issue of debt securities Raise funds from financial…

Q: On January 1, Elias Corporation issued 10% bonds with a face value of $67,000. The bonds are sold…

A: Discount on bonds = Face value of bonds - Issue price of bonds = $67,000 - $64,990 = $2,010…

Q: On January 1 of Year 1, Congo Express Airways issued $3,500,000 of 7% bonds that pay interest…

A: Calculation of Amount of Bond Discount:The bond premium is $10,087 for six months. The bond premium…

Q: The Levi Company issued $78,000 of 11% bonds on January 1 of the current year at face value. The…

A: Semi-annual interest=Face value of bonds×Coupon rate×6 months12 months

Q: The Levi Company issued $74,000 of 7% bonds on January 1 of the current year at face value. The…

A: Semiannual interest payment = face value of bonds x rate of interest x no. of months/12 = $74000 x…

Q: On January 1, Innovative Solutions, Inc., issued $160,000 in bonds at face value. The bonds have a…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: On July 1, Year 1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market…

A: 1.

Q: On January 1, the first day of the fiscal year, a company issues a $5,000,000, 6%, 10-year bond that…

A: Requirement a:Prepare the journal entry to record issuance of the bonds.

Q: On the first day of the current fiscal year, $2,000,000 of 10-year, 6% bonds, with interest payable…

A: Premium on Bonds Payable = Issue price of bonds - Face value of bonds = $2,125,000 -$2,000,000 =…

Q: Franklin Corporation issues $50,000, 10%, 5-year bonds on January 1, for $52,100. Interest is paid…

A: Bond issued = $50,000 Interest rate on bond = 10% Number of years = 5 year Cash received = $52,100

Q: the current fiscal year (for the issuer’s books):   (a) Issuance of the bonds. (b) First annual…

A: No. Particulars  Debit Credit a         Cash 2125000     Premium on bonds payable   125000…

Q: On the first day of the fiscal year, a company issues a $1,350,000, 11%, five-year bond that pays…

A: Since it is a semiannual bond interest will be paid in 10 installments  ( 5 years × 2 )  The bond is…

Q: The Ginsberg Co. issued 10-year bonds on April 30, YR 1. The debt has a face value of $1,000,000 and…

A: Present value of bond Present value of bond is the sum of the present value of all periodic interest…

Q: Milan Company issued bonds with a face value of $275,000 on January 1, Year 1. The bonds had a 7…

A: Answer:- a: Total amount of interest Interest paid on December 31 = 275000 x 7% =$19,250

Q: On January 1, the Elias Corporation issued 10% bonds with a face value of $50,000.  The bonds are…

A: The total interest expense for an organization's payable bonds over the course of a reporting period…

Q: On the first day of the fiscal year, a company issues a $1,800,000, 6%, five-year bond that pays…

A: Since bond has been issued at discount, difference between face value and issue price will be…

Q: On July 1, 20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market…

A: Interest expense = Issue price * Market rate * Time

Q: Wayne Company issued bonds with a face value of $1,020,000, a 10% stated rate of interest, and a…

A: Working: Issue price of the bond=$1,020,000×1.06=$1,081,200 Face value = $1,020,000 Premium on bond…

Q: On July 1, 20Y1, Danzer Industries Inc. issued $37,400,000 of 10-year, 8% bonds at a market…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: On January 1, a company issues bonds dated January 1 with a par value of $560,000. The bonds mature…

A: Interest expense is the amount of interest recompensed in a period. It is the amount paid as return…

Q: On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: The Levi Company issued $200,000 of 12% bonds on January 1 of the current year at face value. The…

A:

Q: On July 1, Year 1, Danzer Industries Inc. issued $37,400,000 of 10-year, 11% bonds at a market…

A: Bonds defined as the units of the corporate debt issued through the companies as well as securitized…

Q: On January 1 of the current year, the Barton Corporation issued 10% bonds with a face value of…

A: Bonds: It is also known as a fixed-income security, which is a debt instrument created for the…

Q: On January 1, Year 1, a company issues $460,000 of 5% bonds, due in 15 years, with interest payable…

A: When the bonds are issued at price which is equal to the face value, they are said to be issued at…

Q: On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par.…

A: Introduction: Interest amount: Interest is a charge levied on the principal amount. Interest is…

Q: Snap Company issues 10%, five-year bonds, on January 1 of this year, with a par value of $100,000…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000…

A: Given information is: Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a…

Q: On January 1, the first day of the fiscal year, a company issues a $700,000, 5%, 10-year bond that…

A: Bonds are the highly secured securities for which the bondholders receive interest as per the…

Q: On January 1, Elias Corporation issued 7% bonds with a face value of $79,000. The bonds are sold for…

A: Working Note: 1. Discount on Bonds Payables will be = Face Value - Issue Price = $79,000-$76,630 =…

Q: On January 1, Topeka Outfitters issued $175,000 of 6%, 3-year bonds when the market rate of interest…

A: Given: Face value = $175,000 Years = 3 Coupon rate = 6% Interest rate = 10%

Q: On July 1, 20Y1, Danzer Industries Inc. issued $35,400,000 of 10-year, 10% bonds at a market…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Hsu Company issued $102,.000 of 10% bonds on January 1 at face value. The bonds pay interest…

A: Given in question: Face value of bond is $102,000 Coupon rate is 10% Since the bonds are issued at…

Q: On July 1, Year 1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market…

A: Since we only answer up to 3 sub-parts, we’ll answer the first three. Please resubmit the question…

Q: On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: On July 1, Year 1, Danzer Industries Inc. issued $47,500,000 of 10-year, 10% bonds at a market…

A: The bond is considered as an instrument which is issued, when the loan is made to the borrower by…

Q: On January 1, assume that Comcast issues $300,000 of 15-year, 10% bonds payable for $351,876,…

A: Solution 1: Issue price of this bond = Proceeds from bond issued = $351,876

Q: On January 1, 2010, Halston Enterprises issued 8%, 20-year bonds with a face amount of $5,000,000 at…

A: Interest=Face amount×Interest rate2=$5,000,000×8%2=$200,000