eBookShow Me Howly WorkJournalize the bond issuance. If an amount box does not require an entry, leave it blank.gmentsessidLocator=&inprogress=falseIssuing Bonds at a Discountof $1,196,745.On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x 2), receiving cash000000Save0PreviousUpd.Next

You can add to or modify the accounting for a financial transaction using a journal entry. The total…

eBook Show Me How G ← 10 (5) Up Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x ½), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

eBook Show Me How G ← 10 (5) Up Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x ½), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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eBook y Work Show Me How ator=&inprogress=false Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x 2), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Save and Exi Previous Upd. Next
< eBook Show Me How amprogress=false (a) Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. 88 Issuing Bonds at Face Amount year), receiving cash of $900,000. On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $900,000, 7%, 10-year bond that pays semiannual interest of $31,500 ($900,000 × 7% × ½ (b) Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank. Check My Work (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 Save and Exit Upd. Next
eBook Show Me How eck My Work -&inprogress=false G Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,200,000, 6%, 8-year bond that pays semiannual interest of $36,000 ($1,200,000 x 6% x 2), receiving cash of $1,454,364. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Previous Upda Next
eBook Show Me How A Calculator Print Item Bond Discount, Entries for Bonds Payable Transactions On July 1, Year 1, Danzer Industries Inc. issued $6,600,000 of 9-year, 10% bonds at a market (effective) interest rate of 12%, receiving cash of $5,885,352. 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 fram the issuance of the bonds on July 1, Year 1. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable 2. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond discount, using the straight-line method. (Round your answer to the nearest dollar.) Feedbeck Check My Work ( Previous 8:45 AM 3/28/2020 00 00 00 00
Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $2,500,000, 12%, 7-year bond that pays semiannual interest of $150,000 ($2,500,000 x 12% × 2), receiving cash of $2,387,327. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Check My Work Previous Next Save and Exit Submit Assignment for Gradir
eBook Show Me How eck My Work conLocator=&lhprogress=false 000 000 0 Issuing Bonds at a Premium $1,454,364. On the first day of the fiscal year, a company issues a $1,200,000, 6%, 8-year bond that pays semiannual interest of $36,000 ($1,200,000 x 6% x 12), receiving cash of Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Upda < Previous Next
* CengageNOWv2 | Online teach x signment/takeASsignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false Issuing bonds at a premium Instructions Chart of Accounts Journal Instructions On the first day of the fiscal year, a company issues a $5,000,000, 7%, five-year bond that pays semiannual interest of $175,000 ($5,000,000 x 7% x %), receiving cash of $5,400,000. Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles.
Issuing Bonds at a Discount 1. On the first day of the fiscal year, a company issues a $8,200,000, 9%, 5-year bond that pays semiannual interest of $369,000 ($8,200,000 × 9% × ½), receiving cash of $7,883,409. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 2. The independent auditor's report a.gives the auditor's opinion regarding the fairness of the financial statements b.summarizes what the auditor did c.states that the financial statements were presented on time d.describes which financial statements are covered by the audit 3. On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $10,242; Accounts Receivable, $8,407; Supplies, $1,842; Land, $24,497; Accounts Payable, $5,833. What is the amount of stockholders' equity as of July 1 of the current year?
eBook On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds with a face value of $910 for $85,800. The bonds had a stated rate of 5% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank.
Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record interest expense and…
Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,500,000, 6%, 8-year bond that pays semiannual interest of $225,000 ($7,500,000 × 6% × 1), receiving cash of $6,236,173. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable Feedback 6,236,173 78,989 X 0 0 0 7,500,000 Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account.
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,400,000, 6%, 8-year bond that pays semiannual interest of $252,000 ($8,400,000x6%x%), receiving cash of $8,945,309. Journalize the bond issuance. If an amount box does not require an entry, leave it blank Check My Work Previous Next