Pharoah Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 Leeds Co. 8% bonds (each with a face value of $1,000) for $80,000 cash. Interest is payable annually on January 1,2022. 2. Accrued interest on Leeds Co. bonds on December 31, 2022. 3. Received interest on Leeds Co. bonds on January 1, 2023. 4. Sold 70 Leeds Co. bonds for $76,300 on January 1, 2023. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)

The following transactions relate to bond investments of Livermore Laboratories. The company's fiscal year ends on December 31. Livermore uses the straight-line method to determine interest. 2024 July 1 Purchased $22 million of Bracecourt Corporation 12% debentures, due in 20 years (June 30, 2044), for $21.1 million. Interest is payable on January 1 and July 1 of each year. October 1 Purchased $36 million of 14% Framm Pharmaceuticals debentures, due May 31, 2034, for $37,856,000 plus accrued interest. Interest is payable on June 1 and December 1 of each year. December 1 Received interest on the Framm bonds. December 31 Accrued interest. 2025 January 1 Received interest on the Bracecourt bonds. June 1 Received interest on the Framm bonds. July 1 Received interest on the Bracecourt bonds. September 1 Sold $18.0 million of the Framm bonds at 102 plus accrued interest. December 1 Received interest on the remaining Framm bonds. December 31 Accrued interest. 2026 January 1 Received interest…

Subject: accounting    Carla Vista Enterprises issued 8%, 8-year, $2,950,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1,2025, and are issued on that date. The discount rate of interest for such bonds on April 1, 2025, is 10%. What cash proceeds did Carla Vista receive from issuance of the bonds?

Pharoah Company had the following transactions pertaining to debt securities held as an investment. Jan. 1 Dec. 31 Purchased 75, 6%, $1,000 Sheridan Company bonds for $75,000 cash. Interest is payable annually on January 1. Accrued $4,500 annual interest on Sheridan Company bonds. Journalize the purchase and the receipt of interest. Assume no interest has been accrued. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1 Debt Investments Cash Dec. 31 Interest Receivable Interest Revenue Debit 75,000 4,500 Credit 75,000 4,500

Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semiannually. The journal entry for the purchase would be. Oa. debit Investments-Evans Company Bonds, $100,000; credit Interest Revenue, $1,500, and Cash, $98,500 Ob. debit Investments-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash, $101,500 Oc. debit Investments-Evans Company Bonds, $101,500; credit Cash, $101,500 Od. debit Investments-Evans Company Bonds, $100,000; credit Cash, $100,000

Herman Company received proceeds of $188,500 on 10-year, 8% bonds issued on January 1, 2018. The bonds had a face value of $200,000, pay semiannually on June 30 and December 31, and have a call price of 101. Herman uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2020. $200,000 O $190, 800 O $189,650 O $197,700

Krause Corporation issued $2,300,000, 10-year, 6% bonds for $2,231,000 on January 1, 2022. Interest is paid semiannually on January 1 and July 1. The corporation uses the straight-line method of amortization. Krause's fiscal year ends on December 31. The amount of discount amortization on July 1, 2022, would be OA. $138,000. OB. $69,000. OC. $6,900. OD. $3,450.

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David corporation issued $100,000, 5- year bonds at 97 on January 1,2016. In December 31,2030 the bonds matured. The payment of the bonds at maturity would be s on the statement of cash flows as a cash outflow of -100,000 in the investing activities section -100,000 in the financing activities section -97,000 in the financing activities section -97,000 in the investing activities section

JSM Ltd. sold $6,010,000 of 8% bonds, which were dated March 1, 2023, on June 1, 2023. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2033, and the bonds were issued to yield 10%. JSM's fiscal year-end was February 28, and the company followed IFRS. On June 1, 2024, JSM bought back $2,010,000 worth of bonds for $1,910,000 plus accrued interest. (a) Your answer is partially correct. Using 1. a financial calculator, or 2. Excel function PV, calculate the issue price of the bonds and prepare the entry for the issuance of the bonds. Hint: Use the account Interest Expense in your entry). (Round answer to O 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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Cash Debit Credit Interest…