Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $81,300,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash of $91,431,817. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave it blank. 1.  Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. 2.  Journalize the entries to record the following: a.   The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. b.   The interest payment on June 30, 20Y2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar 3.  Determine the total interest expense for 20Y1. Round to the nearest dollar. 4.  Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest?   5.  Compute the price of $91,431,817 received for the bonds by using the present value tables in Appendix A. Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences. Present value of the face amount fill in the blank Present value of the semi-annual interest payments fill in the blank Price received for the bonds fill in the blank

Bond Discount, Entries for Bonds Payable Transactions On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20-year, 10% bonds at a market (effective) interest rate of 11%, receiving cash of $42,309,236. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave it blank.    Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. 20Y1 July 1 1. Accounts Payable Bonds Payable Cash Interest Expense Interest Payable Premium on Bonds Payable 2. Accounts Payable Bonds Payable Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable 3. Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable  Journalize the entries to record the following:  The first semiannual…

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,600,000, 6%, 6-year bond that pays semiannual interest of $48,000 ($1,600,000 × 6% × ½), receiving cash of $1,682,063. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 日

'Direct costs are treated differently under the ABC method than under the traditional full costing method.' Is the above statement true or false? A. True B. False

Bond Discount, Entries for Bonds Payable Transactions On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $8,100,000 of 9-year, 10% bonds at a market (effective) interest rate of 11%, receiving cash of $7,644,536. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1.  Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1. For a compound transaction, if an amount box does not require an entry, leave it blank. 2.  Journalize the entries to record the following: For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answer to the nearest dollar. a.  The first semiannual interest payment on December 31, Year 1, and the amortization of the bond discount, using the straight-line method. b.  The interest payment on June 30, Year 2, and the amortization of the bond…

Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $77,800,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash of $87,495,638. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave it blank. 1.  Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.     fill in the blank 4ad6ca024fc305d_2 fill in the blank 4ad6ca024fc305d_3     fill in the blank 4ad6ca024fc305d_5 fill in the blank 4ad6ca024fc305d_6     fill in the blank 4ad6ca024fc305d_8 fill in the blank 4ad6ca024fc305d_9 2.  Journalize the entries to record the following: a.   The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond…

Bond Premium, Entries for Bonds Payable Transactions Rodgers Corporation produces and sells football equipment. On July 1, Year 1, Rodgers Corporation issued $32,900,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash of $37,000,084. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

Entries for Issuing and Calling Bonds; Gain Mia Breen Corp. produces and sells wind-energy-driven engines. To finance its operations, Mia Breen issued $1,536,000 of 20-year, 9% callable bonds on May 1, 20Y5, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. 1.) Journalize the entries to record the following selected transactions: 20Y5 May 1: Issued the bonds for cash at their face amount. Nov 1: Paid the interest on the bonds. 20Y9 Nov 1: Called the bond issue at 96, the rate provided in the bond indenture. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank. 2.) Issued the bonds for cash at their face amount 20Y5 May 1: Cash     Bonds Payable   3.) Called the bond issue at 96, the rate provided in the bond indenture. (Omit entry for payment of interest.) 20Y9 Nov 1: Bonds Payable   Gain on Redemption of Bonds    Cash

Issuing Bonds at Face Amount The first day of the fiscal year, a company issues a $700,000, 6%, 10-year bond that pays semiannual interest of $21,000 ($700,000 x 6% x 2 year), receiving cash of $700,000. a. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first interest payment. If an amount box does not require an entry, leave it blank. C. Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank.

O’Halloran Inc. produces and sells outdoor equipment. On July 1, Year 1, O’Halloran Inc. issued $32,000,000 of six-year, 8% bonds at a market (effective) interest rate of 7%, receiving cash of $33,546,022. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1.* 2. Journalize the entries to record the following:* a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. b. The interest payment on June 30, Year 2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. 3. Determine the total interest expense for Year 1. 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is…