glas Company issued 4-year bonds on January 1. The 14% bonds have a face value of $35,300,000 and pay interest every January 1 and July 1. The bonds sold for $37,952,483 based ne market interest rate of 8%. Douglas Company uses the effective interest rate method to amortize bond discounts and premiums. On July 1 of the same year, Douglas Company shoulc ord interest expense (rounded to the nearest dollar) of a. $4,942,000. b. $2,471,000. a C. $1,518,099. O d. $2,656,674.

On January 1 of the current year, Barton Corporation issued 11%, 5-year bonds with a face value of $112,000. The bonds are sold for $106,400. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, 5 years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the current year ended December 31 is a.$560 b.$13,440 c.$14,000 d.$6,160

Hoover Corp., a wholesaler of music equipment, issued $16,700,000 of 15-year, 11% callable bonds on March 1, 20Y2, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. 20Y2   Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y4   Sept. 1 Called the bond issue at 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank. Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount. 20Y2 Mar. 1 Cash  fill in the blank 63e826f4ffd705e_2 fill in the blank 63e826f4ffd705e_3   Bonds Payable  fill in the blank 63e826f4ffd705e_5 fill in the blank 63e826f4ffd705e_6   Feedback   Paid the interest on the bonds. 20Y2 Sept. 1 Interest Expense  fill in the blank 797adcff2069013_2 fill in the blank…

Ellis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. The annual market rate is 6% on the issue date. Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments.

On January 1, Bramble Corp. issued 10 year, S6,000,000, 9% bonds for $6,842,830. The market rate of interest for these bonds is 79%. Interest is payable annually on December 31 (note that these bonds are ANNUAL bonds). Bramble uses the effective-interest method of amortizing bond premium. At the end of the second year, Bramble should report unamortized bond premium of Group of answer choices $722.000 $716,556 5691,933 $319,093

Zee Company sold an issue of $500,000, 9%, 10-year bonds for $468,845 on April 1. The interest is payable semiannually on October 1 and April 1. The market rate of interest at the time the bonds were issued was 10%. Oct. 1 Paid the first semiannual interest payment and amortized the bond discount, using the effective interest method. Dec. 31 Made the adjusting entry for bond interest accrued and amortization of the bond discount from October 1. (Hint: Use the effective interest rate for the three-month period from October 1–December 31.) Jan. 2 Reversed the adjusting entry for bond interest accrued and bond discount amortization as of December 31. Apr. 1 Paid the second semiannual interest payment and amortized the bond discount.   Required:   Prepare the general journal entry for above transactions (round all amounts to the nearest dollar).

On the first day of its fiscal year, Ebert Company issued $23,000,000 of 5-year, 8% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 10%, resulting in Ebert receiving cash of $21,223,931. The company uses the interest method. a.  Journalize the entries to record the following: 1.  Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.  2. First semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. 3. Second semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

On January 1 of the current year, Barton Corporation issued 10%, 5-year bonds with a face value of $100,000. The bonds are sold for $95,000. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, 5 years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the current year ended December 31 is a. $11,500 b. $5,000 c. $500 d. $11,000

On January 1 of the current year, Barton Corporation issued 7%, 5-year bonds with a face value of $87,000. The bonds are sold for $82,650. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, 5 years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the current year ended December 31 is Oa. $435 Ob. $6,960 Oc. $3,045 Od. $7,395

On January 1, Crane Company issued $5400000, 9% bonds for $5095000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Crane uses the effective-interest method of amortizing bond discount. At the end of the first year, Crane should report unamortized bond discount of $270500. $251000. $254050. $281500.