On January 1, 2022, Ivanhoe Company issued $322,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1. (a)

On January 1, 2025, Entity D issued $1,000,000 of 7%, 5-year bonds at 98.  The bonds pay interest annually on December 31 and Entity D amortizes any premium or discount using the straight-line method.  What is the annual interest expense on the bonds? $66,000. $74,000. $4,000. $70,000.

Subject:: accounting

1. On January 1, 2025, Waterway Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1. July 1, October 1, and January 1. 2. On June 1, 2025, Wildhorse Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the following. (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 on July 1. с The accrual of interest on December 31. Date Account Titles and Explanation Debit Credit 1. Waterway Company: 2. Wildhorse Company:

On January 1st 2023, MSI Inc issues $500,000 4%, 6 year bonds at face value.  Prepare the entry to record the issuance of the bonds.

Mango Co. issued bonds payable on January 1, 2022. Each $1,000 bond is convertible to 10 shares of common stock after January 1, 2024. The bonds have a 5-year term, a stated rate of 8%, and pay interest annually on January 1. The bonds were issued at a premium of $25,274 which provides an effective interest rate of 6%. (Hint: Prepare an amortization table for the five-year term of the bonds. Note that 2023 is the second year in the term of the bonds.) Prepare the adjusting entry at Dec. 31 , 2023.

Aggies Inc. issued bonds with a $450,000 face value, 8% interest rate, and a 4-year term on July 1, 2018, and received $510,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: 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.   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 B.   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15 C.

(d) What will be the total interest payments over the five-year life of the bonds? Total interest expense? Total interest payments Total interest expense

Marigold Corporation issued $660,000 of 6% bonds on May 1,2025 . The bonds were dated January 1,2025 , and mature January 1 , 2028 , with interest payable July 1 and January 1 . The bonds were issued at face value plus accrued interest. Prepare Marigold's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

On January 1, 2019, Grant Corporation issued $4,000,000, 10-year, 8% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2019 includes a O credit to Premium on Bonds Payable 80,000 O debit to Cash for 4,000,000 O debit to Premium on Bonds Payable 80,000 O credit to Bonds Payable for 4,080,000