On January 1, 2021, Hobart Services Ltd. issued $200,000 of 7% bonds at 98.Bonds are due January 1, 2026, with interest payable semi-annually on July 1 andJanuary 1.Required:• Calculate the bond price & the effective interest rate for the semi-annualinterest payments• Prepare a bond amortization schedule for the life of the bond• Prepare all the journal entries relating to the bond for 2021• Prepare a classified partial balance sheet as at December 3

On April 1, 2020, Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated January 1, 2020. Interest is payable semi-annually on January 1 and July 1. The bonds mature on January 1, 2027. Required:     Prepare journal entries to record the following transactions related to long-term bonds of Quicke Mart: 1. The issuance of the bonds. 2. The first interest payments.

Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,641,812. Required: 1. Prepare the January 1 journal entry to record the bonds’ issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments.

Presented below are three independent situations. Instructions a. On January 1, 2019, Langley Co. issued 9% bonds with a face value of $700,000 for $656,992 to yield 10%. The bonds are dated January 1, 2019, and pay interest annually. What amount is reported for interest expense in 2019 related to these bonds? b. Tweedie Building Co. has a number of long-term bonds outstanding at December 31, 2019. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years.   Sinking Fund Maturities 2020 $300,000 $100,000 2021 100,000 250,000 2022 100,000 100,000 2023 200,000 — 2024 200,000 150,000 2025 200,000 100,000 Indicate how this information should be reported in the financial statements at December 31, 2019. c. In the long-term debt structure of Beckford Inc., the following three bonds were reported:…

Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity: Date Cash Paid InterestExpense Increase inCarrying Value CarryingValue 01/01/2021       332,789 06/30/2021 17,500 19,967 2,467 335,256 12/31/2021 17,500 20,115 2,615 337,871 06/30/2022 17,500 20,272 2,772 340,643 12/31/2022 17,500 20,439 2,939 343,582 06/30/2023 17,500 20,615 3,115 346,697 12/31/2023 17,500 20,803 3,303 350,000   THA issued the bonds for:   Multiple Choice   $350,000.   $332,789.   $455,000.   Cannot be determined from the given information.

Subject: acounting

Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity:   Date Cash Paid InterestExpense Increase inCarrying Value Carrying value 01/01/2021       $341,728 06/30/2021 $14,400 $17,086 $2,686 344,414 12/31/2021 14,400 17,221 2,821 347,235 06/30/2022 14,400 17,362 2,962 350,197 12/31/2022 14,400 17,510 3,110 353,307 06/30/2023 14,400 17,665 3,265 356,572 12/31/2023 14,400 17,828 3,428 360,000   THA buys back the bonds for $345,005 immediately after the interest payment on 12/31/2021 and retires them. What gain or loss, if any, would THA record on this date?   Multiple Choice   $3,277 loss.   $2,230 gain.   $14,995 gain.   No gain or loss.

Volunteer Inc. issued bonds with a $650,000 face value, 12% interest rate, and a 4-year term on July 1, 2018 and received $700,000. Interest is payable annually. The premium is amortized using the straight-line method. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of premium D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of premium Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank. A. July 1, 2018 Cash Bonds Payable Premium on Bonds Payable B. June 30, 2019 Interest Expense Cash C. June 30, 2019 Premium on Bonds Payable Interest Expense D. June 30, 2020 Interest Expense Cash E. June 30, 2020 Premium on Bonds Payable Interest Expense

The following section is taken from Oriole Ltd.s balance sheet at December 31, 2019. Non-current liabilities Bonds payable, 7%, due January 1, 2024 HK$ 1,585,000 Current liabilities Interest payable 110,950 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Journalize the payment of the bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 eTextbook and Media List of Accounts Debit Credit Assume that on January 1, 2020, after paying interest, Oriole calls bonds having a face value of $503,000. The call price is 103. Record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 eTextbook and Media List of Accounts Debit Credit Prepare the entry to record the accrual of interest on December 31, 2020. (Credit…

Hawar Company issued $400,000 of bonds on January 1, 2020. Required: Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium on Bonds Payable is $4,000. For the toolbar presS ALT+F10 (PC) or ALT+EN+F10 (Mac)