20Y1   Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y5

Q: On July 1, Year 1, Danzer Industries Inc. issued $48,800,000 of 10-year, 9% bonds at a market…

A: Bonds defined as the units of the corporate debt issued through the companies as well as securitized…

Q: Adele Corp., a wholesaler of music equipment, issued $22,000,000 of 20-year, 7% callable bonds on…

A: Prepare the journal entry to record the issuance of bonds at face amount on March 1.

Q: Hoover Corp., a wholesaler of music equipment, issued $3,690,000 of 20-year, 11% callable bonds on…

A: Semiannual interest payment = face value of bonds x interest rate x 6/12 = 3690000*11%*6/12 =…

Q: On the first day of its fiscal year, Chin Company issued $27,500,000 of five-year, 8% bonds to…

A: Formula: Interest expense = Bond face value x Interest rate x Time period

Q: Hoover Corp., a wholesaler of music equipment, issued $17,850,000 of 25-year, 10% callable bonds on…

A: Answer -    The journal entry for bond issuance varies depends on the type of issuance; whether it…

Q: On January 1, Remington Corp issued $500,000 of 15-year, 10% bonds payable, yielding an effective…

A:

Q: On the first day of its fiscal year, Ebert Company issued $50,000,000 of 10-year, 7% bonds to…

A: a.

Q: On the first day of its fiscal year, Chin Company issued $14,100,000 of five-year, 5% bonds to…

A: Bonds refer to the security issued by government or companies to collect funds. Bonds can be issued…

Q: On April 1, Year 1, Brandi Corporation issued $20,000,000 of 5-year, 9% bonds at a market interest…

A: a. Issuance of the bonds on April 1, Year 1: Date Accounts title and explanation Debit ($) Credit…

Q: Rushton Corp., a wholesaler of music equipment, issued $15,710,000 of 20-year, 8% callable bonds on…

A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder.…

Q: On January 1, the first day of the fiscal year, a company issues an $800,000, 4%, 10-year bond that…

A: BondA bond is an instrument evidencing a debt which is issued for the purpose of raising money…

Q: On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued…

A: 1.

Q: Hoover Corp., a wholesaler of music equipment, issued $32,700,000 of 20-year, 6% callable bonds on…

A: Interest expense = Face value of bonds x rate of interest x no. of month/12 = $32,700,000 x 6% x…

Q: On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued…

A: Hey, since there are multiple sub-parts are posted, we will answer first three sub-parts. If you…

Q: On July 1, Year 1, Khatri Industries Inc. issued $43,200,000 of 10-year, 4% bonds at a market…

A: Journal entries means the entries to be recorded in the accounting books of the business for all the…

Q: On the first day of its fiscal year, Ebert Company issued $20,000,000 of 5-year, 11% bonds to…

A: Under the Effective interest method, the Bond issue shall be valued at the present value of Bond…

Q: On July 1, Year 1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market…

A: 1.

Q: Rushton Corp., a wholesaler of music equipment, issued $3,650,000 of 20-year, 14% callable bonds on…

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: Rushton Corp., a wholesaler of music equipment, issued $17,800,000 of 15-year, 12% callable bonds on…

A: Interest expense on sept 1, 20Y1 = face value of bonds x rate of interest x no. of months/12 =…

Q: On the first day of its fiscal year, Chin Company issued $21,300,000 of five-year, 4% bonds to…

A: Interest expense= Issue value of the Bonds x market interest rate x no. of months / 12 Interest…

Q: On July 1, 20Y1, Danzer Industries Inc. issued $50,000,000 of 10-year, 8% bonds at a market…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: On the first day of its fiscal year, Chin Company issued $13,200,000 of five-year, 6% bonds to…

A: Bond financing is an instrument for borrowing the funds. The borrower has to pay a fixed amount of…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Journal entries are prepared to record the financial and non financial transactions of the business…

Q: Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $87,000,000 of…

A: As posted multiple subparts we are answering only first three sub parts kindly repost the unanswered…

Q: On the first day of its fiscal year, Chin Company issued $19,500,000 of five-year, 6% bonds to…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smiley…

A: a. Prepare the journal entry to record the issuance of bonds on April 1.

Q: Brubeck Co. issued $10,000,000 of 30-year, 8% bonds on May 1 of the current year, with interest…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: Adele Corp., a wholesaler of music equipment, issued $22,000,000 of 20-year, 7% callable bonds on…

A: Bonds are a form of loan or debt that is being issued by the business organisation, on which regular…

Q: Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $14,000,000 of…

A: Journal entries are prepared to record the financial and non financial transactions of the business…

Q: On January 1, the first day of its fiscal year, Jacinto Company issued $6,500,000 of six-year, 7%…

A:

Q: Hoover Corp., a wholesaler of music equipment, issued $16,700,000 of 15-year, 11% callable bonds on…

A: Bonds are kind of loan on which interest is paid and redeemed after certain period of time.

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Discount on bonds=$74,000,000-$63,532,267=$10,467,733

Q: Wayne Company issued bonds with a face value of $1,020,000, a 10% stated rate of interest, and a…

A: Working: Issue price of the bond=$1,020,000×1.06=$1,081,200 Face value = $1,020,000 Premium on bond…

Q: [The following information applies to the questions displayed below.] On April 1, year 1, Cricket…

A: Bonds are a form of debt or loan issued by the company. Business has to make regular interest…

Q: O’Halloran Inc. produces and sells outdoor equipment. On July 1, Year 1, O’Halloran Inc. issued…

A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds.

Q: b. First interest payment on October 1, Year 1, and the amortization of bond premium for 2 months,…

A: Bonds:   Bonds are the financial debt instruments issued by the corporations to raise capital for…

Q: Rushton Corp., a wholesaler of music equipment, issued $11,000,000 of 20-year, 9% callable bonds on…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: The following transactions were completed by Montague Inc., whose fiscal year is the calendar year:…

A: Since, only the 2nd and 3rd requirement are mentioned they are answered. Bonds: Bonds are long-term…

Q: On July 1, Year 1, Danzer Industries Inc. issued $37,400,000 of 10-year, 11% bonds at a market…

A: Bonds defined as the units of the corporate debt issued through the companies as well as securitized…

Q: Hoover Corp., a wholesaler of music equipment, issued $11,200,000 of 20-year, 9% callable bonds on…

A: Journal entries are prepared to record the financial and non-financial transactions of the business…

Q: On the first day of its fiscal year, Chin Company issued $27,500,000 of five-year, 8% bonds to…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: On January 1 of the current year, a company issued 5-year 10% bonds with a face amount of…

A: If the bonds were designated at fair value means then the carrying amount of the bonds is…

Q: Adele Corp., a wholesaler of music equipment, issued $22,000,000 of 20-year, 7% callable bonds on…

A: Answer - Calculations :  Interest Exp - 22000000*7%*1/2 = 770000

Q: Hoover Corp., a wholesaler of music equipment, issued $29,700,000 of 20-year, 6% callable bonds on…

A: Bonds: Bonds are long-term promissory notes that are represented by a company while borrowing money…

Q: On January 1, the first day of the fiscal year, a company issues a $700,000, 5%, 10-year bond that…

A: Bonds are the highly secured securities for which the bondholders receive interest as per the…

Q: On January 1, the first day of its fiscal year, Jacinto Company issued $18,400,000 of five-year, 12%…

A: Bonds refers to the debt instrument issued by a corporate company to raise funds. It is an asset for…

Q: On the first day of its fiscal year, Ebert Company issued $25,000,000 of 5-year, 9% bonds to finance…

A: Solution a:       Journal Entries - Ebert Company Date Particulars Debit Credit Jan 1, Year 1…

Q: On July 1, Year 1, Danzer Industries Inc. issued $47,500,000 of 10-year, 10% bonds at a market…

A: The bond is considered as an instrument which is issued, when the loan is made to the borrower by…

Q: Hoover Corp., a wholesaler of music equipment, issued $11,200,000 of 20-year, 9% callable bonds on…

A: The journal entries are prepared to keep the record of day to day transactions of the business.