. Dechow, Inc., issued $250,000 of 8%, 15-year bonds at 97 on July 1, 2009. Interest is payable semiannually on December 31 and June 30. Through June 30, 2016, Dechow amortized $3,186 of the bond discount. On July 1, 2016 Dechow retired the bonds at 101. Required a. Prepare journal entries to record the issue and retirement of these bonds. (Assume the June interest expense has already been recorded.) b. Post the journal entries from part a to their respective T-accounts. c. Record each of the transactions from part a in the financial statement effects template.

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A: 1.

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A: Dear student, we can not solve more than three sub-parts of a question if a question has more than…

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Q: On January 2, 2015, Sandhill Corporation issued $1.050,000 of 10% bonds at 97 due December 31, 2024.…

A: Issue Price of face amount of $630000 ($630000 * 97%) $6,11,100 Discount on Bonds Payable ($630000…

Q: Angelas Company issued a $500,000, 10 percent, 10-year bond on January 1, 2015, for 113.6 when the…

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Q: On January 2, 2015, Banno Corporation issued $ 1,500,000 of 10% bonds at 97 due December 31, 2024.…

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Q: On January 1, 2006, Okon Company issued 5,000 of its 9%, P1,000 face value bonds at 95.  Interest is…

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Q: On January 1, 2011, Fox Corp. issued 1,000 of its 10%, $1,000 bonds for $1,040,000. These bonds were…

A: Calculate the book value of bonds at the time of extinguishment.

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A:

Q: Crazy Corporation issued $300,000 of 10%, 20-year bonds at 106 on January 1, 2012. Interest is…

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Q: Hill Corporation issued $1,200,000 of 7% bonds at 99 on January 2, 2019. Interest is paid…

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Q: Determine the present value of the bonds at issuance.

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A: yes, it is correct.

Q: On January 1, 2017, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of…

A: Calculate the amount of cash paid to redeem the bond.

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Q: On January 2, 2015, Banno Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2024.…

A:

Q: On January 1, 2002, Brownies Corp. issued 1,000 of its 10%, P1,000 bonds for P1,040,000. These bonds…

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Q: On May 1, 2010, Kirmer Corp. purchased $450,000 of 12% bonds, interest payable on January 1 and July…

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Q: On January 2, 2015, Shamrock Corporation issued $1,900,000 of 10% bonds at 97 due December 31, 2024.…

A: When bonds are issued at discount, the discount on issue of bonds need to be carried forward and…

Q: Prepare journal entries for the following transactions.

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Q: On September 1, 2011, Park Rapids Lumber Company issued $80 million in 20-year, 10 percentbonds…

A:

Q: On June 30, 2016, King Co. had outstanding 9%, $5,000,000 face value bonds maturing on June 30,…

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Q: On January 1, 2016, Phoenix Corporation issued 10-year $200,000 bonds with a 6% stated rate of…

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A:

Q: On January 1, 2014 Victory Falls Company issued $2,100,000 in bonds that mature in 5 years. The…

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A: Calculate the amount of cash paid to redeem the bond.