For each of the following situations, calculate the amount of bond discount or premium, if any. gray co. issues 61,000 of 6 percent bonds at 103 1/2 bush inc issued 91,000 of 10 year 6 percent bonds at 96 1/2 oak inc issued 240,000 of 20 year 6 percent bonds at 101 willow co issued of 15 year 7 percent bonds at 95

Assume the bonds in were issued for $644,636 and the effective-interest rate is 6%, prepare the company's journal entries

Accounting Bonds Payable has a balance of $957,000 and Discount on Bonds Payable has a balance of $9,570. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? a. $14,355 loss b. $9,570 gain c. $14,355 gain d. $9,570 loss

Present entries to record the selected transactions described below: a. Issued $2,750,000 of 10-year, 8% bonds at 97. If an amount box does not require an entry, leave it blank. b. Amortized bond discount for a full year, using the straight-line method. If an amount box does not require an entry, leave it blank. c. Called bonds at 98. Assume the bonds were carried at $2,692,250 at the time of the redemption. If an amount box does not require an entry, leave it blank.

Compute the cash proceeds from bond issues under the following terms.   Pear, Inc issued $171,000 of 10-year, 8 percent bonds at 103 Apple, Inc issued $71,000 of 5-year, 12 percent bonds at 98 Cherry Co. issued $153,000 of 5-year, 6 percent bonds at 101 ¼ Grape, Inc issued $61,000 of 4-year, 8 percent bonds at 98

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A $319,000 bond was redeemed at 104 when the carrying value of the bond was $344,000. The entry to record the redemption would include a a.loss on bond redemption of $12,240. b.gain on bond redemption of $25,000. c.loss on bond redemption of $25,000. d.gain on bond redemption of $12,240.

Eli Inc. issued $110,000 of 9% annual, 5-year bonds for $112,900. What is the total amount of interest expense over the life of the bonds? $ ______________

Kartel is planning to issue 360 bonds, each having a face amount of $1,000. Required: 1. Prepare the journal entry to record the sale of the bonds at par. Record issuance of bonds at par 2. Prepare the journal entry to record the sale of the bonds at a premium of $34,000. Record issuance of bonds at premium 3. Prepare the journal entry to record the sale of the bonds at a discount of $41,000. Record issuance of bonds at discount 4. Conceptual Connection: Assuming the stated rate is identical for the previous three scenarios, in which scenario is the market rate of interest (yield) highest? The bonds sell at

On July 1,