Your company sells $41,000 of one-year, 12% bonds for an issue price of $39,500. The journal entry to record this transaction will include a credit to Bonds Payable in the amount of:   Multiple Choice   $39,500.   $41,000.   $44,420.   $45,920.

Paul White Company sells 10% bonds having a maturity value of $1,900,000 for $1,763,025. The bonds are dated January 1, 2025, and mature January 1, 2030. Interest is payable annually on January 1. Click here to view factor tables. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 2 decimal places, e.g. 38,548.25.)

The following are two independent situations. 1. 2. Crane plc. redeemed £121,000 face value, 10% bonds on June 30, 2020, at 102. The carrying value of the bonds at the redemption date was £108,500. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded. For each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. Tastove Inc. redeemed £155,000 face value, 11% bonds on June 30, 2020, at 96. The carrying value of the bonds at the redemption date was £157,650. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded. No. Account Titles and Explanation 2. Debit Credit NAR

How do you find the bond interest expense

Instructions: Provide the journal entry where bonds were sold at a premium. Candlestick Inc. sold bonds for $105,000 (105% face value) rather than for $90,000.

D2. Account

Garcia Company issues 8.0%, 15-year bonds with a par value of $290,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.0%, which implies a selling price of 114 3/4. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet < Record the issue of bonds with a par value of $290,000 at a selling price of 114 3/4. Note: Enter debits before credits. Date January 01 Record entry General Journal Clear entry Debit Credit He View general Journal

On January 1, Year 1, Price Company issued $291,000 of five-year, 5 percent bonds at 98. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the entry for issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

Your answer is partially correct. Swifty Ltd. issued a $1,184,000, 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 Swifty 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.

Kartel is planning to issue 360 bonds, each having a face amount of $1,000. Required: 1. Prepare the journal entry to record the sale of the bonds at par. Record issuance of bonds at par 2. Prepare the journal entry to record the sale of the bonds at a premium of $34,000. Record issuance of bonds at premium 3. Prepare the journal entry to record the sale of the bonds at a discount of $41,000. Record issuance of bonds at discount 4. Conceptual Connection: Assuming the stated rate is identical for the previous three scenarios, in which scenario is the market rate of interest (yield) highest? The bonds sell at