Romania, Inc., issues 6%, 10-year bonds with a face amount of $60,000 for $55,736 on January 1, 2012. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31.   1. Record the bond issue.   2. Record the first interest payment on June 30, 2012.

On August 1, 2010, a company issues bonds with a par value of $600,000. The bonds mature in 10 years and pay 6% annual interest, payable each February 1 and August 1. The bonds sold at $632,000. The company uses the straight-line method of amortizing bond premiums. The company's year-end is December 31. Prepare the general journal entry to record the interest accrued at December 31, 2010. Edit Format Table 12pt v Paragraph v BIUA ev T?v F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 ... !!

On January 1, 2017, ABC company issued a $500,000, 8%, 10-year bond at the yield of 6%. Interest is to be paid semiannually on July 1 and December 31 each year. Assume a Dec 31, year end. Required: Calculate the cash proceeds to ABC Company from the bond sale. Prepare the journal entry to record the issuance of the bond. Prepare a bond amortization table to show the bond at issue date and the first three periods plus the issue date. Make the journal entry on ABC's books to make the December 31, 2017 interest payment to its investors. On March 1, 2018 ABC Company decides to retire 20% of the bonds at 101 plus accrued interest. Assume that interest is paid when making the bond retirement entry. i) Make the entry at this date to update interest expense and interest payable. ii) Calculate any unamortized premium or discount to be recorded at bond retirement date. i) Record the bond retirement and book any gain or loss on the retirement.

Brussels Enterprises issues bonds at par dated January 1, 2021, that have a $2,500,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2024 (assume semiannual interest is already recorded). View transaction list Journal entry worksheet 1 2 3 Date January 01 Record the issuance of bonds for cash on January 1. Note: Enter debits before credits. 4 General Journal Debit Credit >

How to calculate the issue price of the bonds with normal calculator?

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…

On January 1, Shanghai Fashions issued $325,000 of 6%, 3-year bonds when the market rate of interest was 10%. The bonds pay interest semiannually on June 30 and December 31. A. How much are the proceeds that Shanghai Fashions Company will receive on the issue date of the bonds? B. Prepare an amortization table for the bond issue. C. If the bonds are retired at the end of Year 2 at 104.5% of the maturity value, how much gain or loss on retirement will be reported?

Banjo Education Corp. issued a 4%, $110,000 bond that pays interest semiannually each June 30 and December 31. The date of issuance was January 1, 2020. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.’s year-end is December 31. Use TABLE 14A.1 and TABLE 14A.2. (For all the requirements, Use appropriate factor(s) from the tables provided.) Required:Preparation Component:1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.)   2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)   3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.)

1. Santos SA issues $300,000 in bonds dated January 1, 2022, due in five years with 9 percent interest payable annually on January 1. At the time of issue, the market rate for such bonds is 9percent.a) Illustrate the bond in line as principal invested and interest rate.b) Check the value of bound is it sold at par value.c) Register accounting transactions on journal entries.

Stephanie Ram Corporation have a $880,000 "bond issue" dated February 1, 2016 due in 10 years with an annual interest rate of 12%. Interest is payable February 1 and August 1. On April 1, 2016, the bond was sold for $826,900 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on April 1, 2016. b) Payment of the semi-annual interest and the amortization of the discount on August 1, 2016. c) Accrual of the interest and the amortization of the discount on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the discount on February 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, eg. 5,275.25.) Date Account Titles and…