On January 1, 20xx, the following bond was issued. $ 30,000 at 5%, term 3 years to 98. The bonds pay annual interest as of December 31. to. Prepare the entry of the bond purchase at 1/1 / 20xx b. Prepare bond amortization table for the 3 periods c. With this table prepare the accrued interest entry at 12/31 / 20xx d. Prepare the interest payment entry after the accrual of interest at the end of the first period

Q: A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is…

A: Bonds: It is also known as a fixed-income security, is a debt instrument created for the purpose of…

Q: On January 1, Year 1, Pierce Corporation issued $25,000 in 8%, 5-year bonds payable at 102. Interest…

A: Assets, liabilities and stockholders equity are recorded in the Balance Sheet. Income and expenses…

Q: jan 1 a co. issued and sold a 408,000, 9%, 10-year bond payable, and received proceeds of 403,000.…

A: Discount on  bonds to be amortized over period of bond

Q: A $1,000 bond, with interest at 9 ½% on March 1 and September 1, was purchased on November 23.…

A: Accrued interest: Accrued interest is the outstanding interest expense in the accounting period, as…

Q: 2. On January 1, a company issued and sold a $409,000, 6%, 10-year bond payable, and received…

A: Face value of bonds$409,000Less: Proceed received on issuance of bonds$404,000Discount on bonds…

Q: A ten-year bond has a face value of $10,000, a face interest rate of 11 percent, issued at $10,400.…

A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Q: On January 1, a company issued and sold a $393,000, 6%, 10-year bond payable, and received proceeds…

A: Introduction: When company issues bonds at discount, then the discount amount can be amortized over…

Q: of 6% were sold at par value. The bonds were dated January 1, 20x6. Interest will be paid twice a…

A: The company issues bonds for the expansion of capital investment. The bonds were for a long period.…

Q: Prepare a bond amortization table for the bond. Journalize the following entries Issue of the…

A: Solution:- Given, Augusta corporation issued 5,000,000 of 4% 10 year bonds paying interest semi…

Q: Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000…

A: Unamortized discount is the amount of discount on bonds payable which is not yet amorized as the…

Q: Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31.…

A: 1. Date Account Titles and Explanation Debit Credit Jan. 1 Cash ($3,200,000*96/100)…

Q: On June​ 30, Power Company issues 5%​, five​-year bonds payable with at face value of $60,000. The…

A: Journal entry : It is prepared to record the financial and non financial transaction of the business…

Q: On Janua

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…

Q: On 31 December 20X7, a company has the following bond on the statement of financial position:…

A: Bonds are the financial instruments issued to raise capital from the public at large. Bonds are…

Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…

A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200

Q: Darien Inc. redeemed $20,000 of its bonds at 102 on January 1. At this date, the unamortized…

A: Cash on bonds is   20000 × 1.02 = 20400 the unamortized discount was $2,760. Loss on redemption is $…

Q: On December 31, a $1,000,000 bond issue on which there is an unamortized discount of $71,600 is…

A: Journal entry is the primary step to record the transaction in the books of accounts. The debit and…

Q: On the first day of the fiscal year, a company issues an $380,000, 7%, 5-year bond that pays…

A:

Q: A $2,000,000 bond is issued on January 1, 20xx with a 9% stated interest rated. Interest is paid…

A: Bond Value=$2000,000 Interest Rate= 9% paid semiannually Maturity period= 10 years Amount in Bond…

Q: Prepare the entry to record the issuance of the bond and the first payment.

A: Amount of Interest = (Number of bonds issued × Par value × Interest rate)/2 = (1000 × $100 × 5%)/2 =…

Q: n 1/1/20, $300,000 of 10 year, 8% bonds were issued for $262,616. The issue price was based on an…

A: Straight line amortization method: Under the straight line method of amortization the bond discount…

Q: Recording Bond Entries and Preparing an Amortization Schedule Effective Interest Method, Premium…

A: Effective interest method The effective interest method, which is dependent on the object's…

Q: Entries for Bonds Payable, including bond redemption The following transactions were completed by…

A: Journalize the entries are as follows: Date Accounts title and explanation Debit $ Credit…

Q: On June 30th dogwood limited issues 8%, 20 year bonds payable with a face value of $100,000. The…

A: Here,it is assumed that face value per bond is $ 100. Therefore number of bonds issue=$100,000/$100…

Q: a. On January 1, Cardano Berhad issued RM1,200,000, 6%, 5-year bonds at face value. Interest is…

A: Since you have posted two different question, we will do the first one for you. To get the other…

Q: On January 1, a co. issues bonds dated Jan 1 with a par value of 330,000. the bond mature in 5…

A: The bonds are issued at premium when market rate is lower than the contract rate of bonds.

Q: On June 30, Kelce Koolers issues 7%, 18-year bonds payable with a face value of $86,000. The bonds…

A: Bonds are instrument issued by company acknowledging the debt raised by company. It is a liability…

Q: On the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays…

A: Discount on Bonds Payable = Face value of the bonds - Issue value of the bonds = $1,450,000 -…

Q: Problem IV (113) - Entries for bonds payable. Prepare the necessary journal entries to record the…

A: The bonds are long-term liabilities because the payment of liability is to be made in more than a…

Q: Keaubie Co. issued $400,000, 6.75% 15-year bonds payable at a price of 100 (face value), on Jan.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On the first day of the fiscal year, a company issues an $994,000, 7%, 5-year bond that pays…

A: Total discount on bonds issue =  Face value of the bonds - Issue value of the bonds = 994000-934400…

Q: On January 1 of Year 1, Williams Inc. issued 4-year, $50,000, 5% bonds, priced to yield 6%, with…

A: Effective interest methodThe effective interest method, which is dependent on the object's effective…

Q: Question a. On January 1, Cardano Berhad issued RM1,200,000, 6%, 5-year bonds at face value.…

A: Bond is a liability . They are issued by the company so that it can raise the amount required . On…

Q: On January 1, a company issues 9%, five-year bonds with a par value of $109,000 and semiannual…

A: A journal entry records a business transaction in the accounting system of a company. Journal…

Q: Gia Company had the following bond issue: Date of issue/sale: April 1, 20-A Face value: $200,000…

A: Bonds are a form of liability being incurred by the business. It can be short term or long term,…

Q: Interest expense for the year ended December 31, 20x1 would be for

A: Given bond issue date = september 1 Interest accrued at december 31

Q: On January 1, the first day of the fiscal year, a company issues an $2,250,000, 12%, five-year bond…

A: Total premium on bonds issue = Issue value - Face value of bonds = $2,379,360 - $2,250,000 =…

Q: On January 1, Martinez Inc. issued P 4,000,000, 11% bonds for P 4,260,000. The market rate of…

A: Working:

Q: On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is…

A: As per accrual principle of accounting, all the expenses need to be accounted for within the…

Q: On 31 December 20X7, Dunder Mifflin has the following bond on the statement of financial position:…

A: Bonds payable are a type of long-term debt that companies use to raise capital. When a company…