$84,000, 8% (cash interest payable semiannually on June 30 and December 31) 10-year bonds dated and sold on January 1. Assume that the company uses the effective interest amortization method and bond issuance costs are $2,100. If the bonds were sold to yield 9%, provide journal entries to be made at each of the following dates. a. January 1, for issuance of bonds. b. June 30, for the first interest payment.

Issuing bonds at a premium On the first day of the fiscal year, a company issues a $3,900,000, 8%, 7-year bond that pays semiannual interest of $156,000 ($3,900,000 x 8% x 12), receiving cash of $4,340,546. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable Feedback Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account.

Recording Bonds Issued at Face Value Yale Corporation issued to Zap Corporation $36,000, 8% (cash interest payable semiannually on July 1 and January 1) 10-year bonds dated and sold on January 1, 2020. If the bonds were sold at face value, provide the journal entries to be made at each of the following dates. Yale's fiscal year ends on December 31. a. January 1, 2020, for issuance of bonds. b. July 1, 2020, Cash c. December 3 Inventory Equipment Date Dr. Cr. Land a. Jan. 1, 2020 Deferred Revenue Bonds Payable Discount on Bonds Payable b. Jul. 1, 2020 Discount and Debt Issuance Costs Premium on Bonds Payable Fair Value Adjustment-Bonds Payable Note Payable Discount on Note Payable с. Dec. 31, 202 Premium on Note Payable Fair Value Adjustment-Note Payable Interest Payable Please answer Common Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital-Stock Warrants Retained Earnings-Prior Period Adjustment Debt Conversion Expense Previous Next Interest Expense Loss on Redemption…

Subject :- Account

On January 1, $853,000, 5-year, 10% bonds were issued for $827,410. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize a discount on bonds payable, the semiannual amortization amount is a. $42,650 O Ob. $2,559 Oc. $25,590 Od. $5,118

On January 1, the first day of the fiscal year, a company issues an $2,250,000, 12%, five-year bond that pays semiannual interest of $135,000 ($2,250,000 x 12% x ½), receiving cash of $2,379,360. Required:   Journalize the first interest payment and the amortization of the related bond premium. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Meman

Milan Company issued bonds with a face value of $463,000 on January 1, Year 1. The bonds had a 6 percent stated rate of interest and a six-year term. The bonds were issued at face value. Interest is payable on an annual basis. Required a. What total amount of interest will Milan Company pay in Year 1 if bond interest is paid annually each December 31? b. What total amount of interest will Milan Company pay in Year 1 if bond interest is paid semiannually each June 30 and December 31? (Do not round intermediate calculations.) a. Total amount of interest b. Total amount of interest

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,700,000, 7%, 10-year bond that pays semiannual interest of $304,500 ($8,700,000 × 7% × ½), receiving cash of $10,833,863. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Subject : Accounting