On January 1, 2023, One Corporation issued $88,000, 5-year bonds, with coupon rate of 7%, paid semi-annually. Prepare the necessary journal entries to record the issue of the bond at face value and the payment of interest for the year of 2023.

Prepare journal entries to record the following transactions relating to long-term bonds of Lancaster Inc. Show calculations and round to the nearest dollar.                 a) On June 1, 2023, Lancaster Inc. issued $400,000, 6% bonds for $391,760,     including accrued interest. The bonds were dated February 1, 2023, and     interest is payable semi-annually on February 1 and August 1 with the bonds     maturing on February 1, 2033. The bonds are callable at 102.                       b) On August 1, 2023, Lancaster paid the semi-annual interest and recorded     the amortization of the discount or premium, using straight-line amortization.                   c) On February 1, 2025, Lancaster paid the semi-annual interest and recorded     amortization of the discount or premium. Assume that a reversing entry was     made on January 1, 2025.                             d) The company then purchased $240,000 of the bonds at the call price   Do not give…

On January 1, 2021, Dominguez Company issues 7-year bonds with a face value of $10,000,000 and a stated annual interest rate of 4%. The bonds pay interest semiannually on June 30 and December 31. The market rate of interest is 5%, and the company receives cash proceeds of $9,415,454 when the bonds are issued. a) Provide the journal entry that Dominguez will make to record the second bond interest payment on December 31, 2021. b) Provide the journal entry that Dominguez will make to record the principal payment of $10,000,000 on December 31, 2030.

On January 1, 2022, Ehrlich Corporation issued 7%, 15-year bonds with a face amount of $4,800,000 .   Instructions Prepare the following entries: record the issuance of the bonds on 1/1/22, assuming the bonds were issued at 102 record the issuance of the bonds on 1/1/22, assuming the bonds were issued at 100 prepare the entry for the redemption of the bonds at maturity calculate the total cost of borrowing for these bonds, assuming they are issued at 100

Metlock Ltd. issued a $791,000, 10-year bond dated January 1, 2023. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Metlock followed IFRS. Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount received for the bond, and any discount or premium on the bond. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ORDINARY ANNUITY OF 1. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places e.g. 58,971.) Proceeds from sale of bond Discount on bond Prepare the journal entries for above transactions. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the…

Marigold Corp. issued 3, 300 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. interest is paid each january 1. Prepare the journal entry to record the sale of these bonds on January 1, 2022.

On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $200 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. Required: Determine the price of the bonds on September 30, 2024. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Time values are based on: n= i= Cash Flow Interest Principal Price of bonds S S Amount 40 5% 8,000,000 200,000,000 Present Value

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On March 1, 2024, Baddour, Incorporated, issued 10% bonds, dated January 1, with a face amount of $160 million. • The bonds were priced at $143.50 million (plus accrued interest) to yield 12%. • The price if issued on January 1 would have been $140.75 million. • Interest is paid semiannually on June 30 and December 31. Baddour's fiscal year ends September 30. Required: 1. to 3. What would be the amount(s) related to the bonds Baddour would report in its balance sheet, income statement and statement of cash flows for the year ended September 30, 2024? Note: Enter your answers in whole dollars. Negative amounts should be indicated by a minus sign. Balance sheet: Bonds payable (net) Interest payable Income statement: Interest expense Statement of cash flows:

On January 1, 2025, Concord Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were issued for $537.196, and pay interest each July 1 and January 1. The effective-interest rate is 6%. Prepare the company's journal entries for (a) the January 1 issuance. (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Concord uses the effective interest method. (Round answers to 0 decimal places, eg, 38,548. 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) No. (4) Date Account Titles and Explanation Debit Cred