Required journal entries Total cash payment = 500000*10%*1/2 = $25, 000 Discount on bonds payable = (10240/64) *4 = $640 My question is the formula of the Total cash payment and Discount on bonds payable.
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Total cash payment = 500000*10%*1/2 = $25, 000
Discount on bonds payable = (10240/64) *4 = $640
My question is the formula of the Total cash payment and Discount on bonds payable.
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- Please provide the journal entry for the sale of the bonds, I thought you should debit cash 105K and credit bonds 104500 and interest 500If the bonds payable account has a balance of $900,000 and the discount on bonds payable account has a balance of $72,000, what is the carrying amount of bonds? A. $828,000 B. $900,000 C. $972,000 D. $580,0006400 bonds with a face value of $1000 each, are sold at 105. The entry to record the issuance is Cash Discount on Bonds Payable Bonds Payable Cash Premium on Bonds Payable Bonds Payable Cash Bonds Payable Cash Premium on Bonds Payable Bonds Payable 6720000 6720000 6720000 6400000 320000 320000 6400000 320000 6400000 6720000 6720000
- Calculate net debt. Cash and cash equivalents Short term borrowings Long term borrowings Commercial paper (liability) Capital / finance lease Accounts receivable Total liabilities Inventory Select one: 2,108.0 2,103.0 2,025.0 14,132.0 3,176.0 419.0 2,883.0 331.0 1,651.0 83.0 17,308.0 5.0On January 1, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $2,300,000. The bonds pay interest semiannually. The marke rate of interest is 9.5% and the bond selling price was $2,143,712. The bond issuance should be recorded as: Multiple Choice 22 Debit Cash $2,300,000; credit Bonds Payable $2,300,000. Debit Cash $2143,712; credit Bonds Payable $2,143,712. Debit Cash $2,300,000; credit Bonds Payable $2,143,712: credit Discount on Bonds Payable $156,288. Nohit Cach 2143712 dehit Diecount on Ronds Pavahle $156.288 crerdit Ronds Pavahle 2 300 000 Mc Graw Hill 9:12 P 96% Type here to search 3/21/2027 - …/…/201. . (Debit) .(Credit)780 Financial Expenses xxx304 Bond Principal Debt Installments and Interests xxxx360 Taxes and Funds Payable Account xxx Which of the following can be said about the journal entry?A) It is the journal entry for the interest payment of the bonds.B) It is a journal entry for the sale of bonds through the bank.C) It is the journal entry for the issuance of the bond.D) It is the journal entry for the interest accrual of the bonds.E) It is a journal entry for long-term installments to become short-term.
- On January 1, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $2,300,000. The bonds pay interest semiannually. The market rate of interest is 9.5% and the bond selling price was $2,143,712. The bond issuance should be recorded as: Multiple Choice Debit Cash $2,300,000; credit Bonds Payable $2,300,000. Debit Cash $2143,712; credit Bonds Payable $2,143,712. Debit Cash $2,300,000; credit Bonds Payable $2,143,712; credit Discount on Bonds Payable $156,288 Debit Cash $2143,712; debit Discount on Bonds Payable $156,288; credit Bonds Payable $2,300,000. Debit Cash $2,143,712; debit Interest Expense $156,288; credit Bonds Payable $2,300,000. Graw Hill 931 PM Type here to search 96% 3/21/2022Assignment Q. = Ken recieved 30000 of interest from corporate bonds and money market accounts. Ans & what line on form 1040?Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan.
- Period Cash Paid Interest Expense Interest in Carrying Value Carrying Value Issue Date $85,940 1 $4,100 $ 3,438 $662 85,278 2 4,100 3,411 689 84,589 1. & 2. Record the bond issue assuming the face value of bonds payable is $79,000 and first interest payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record the bond issue. Event General Journal Debit Credit 1 Record the first interest payment. Event General Journal Debit Credit 2What account would be debited (1), what account would be credit (2), and what amount would be paid to record the journal entry for each interest payment based on a $200,000 five-year, 10% bond and the bond was issued at $192,462 (11%) and interest is paid semiannually? JOURNAL Page 25 DATE DESCRIPTION P.REF. DEBIT CREDIT (1) ? (2) ? (1) Interest Expense debit $11,000, and (2) Cash credit $11,000 (1) Interest Expense debit $10,000 and (2) Cash credit $10,000 (1) Cash debit $20,000 and (2) Interest Expense credit $20,000 (1) Cash debit $22,000, and (2) Interest Expense credit $22,000Federal Semiconductors issued 8% bonds, dated January 1, with a face amount of $830 million on January 1, 2021. The bonds sold for $753,634,356 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 9%. Interest is paid semiannually on June 30 and December 31. Required: 1. to 3. Prepare the journal entries to record their issuance by Federal on January 1, 2021, interest on June 30, 2021 (at the effective rate) and interest on December 31, 2021 (at the effective rate). 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet? Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Prepare the journal entries to record their issuance by Federal on January 1, 2021, interest on June 30, 2021 (at the effective rate) and interest on December 31, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in…