3 year 8% Bonds at $100,000 issued on January 1,2018, are recalled at 105 on December 31,2019 Expenses of recall are $2,000. Market interest on issue date was 8%. Prepare the journal entry as of December 31, 2019, assuming a $1,817 balance in the discount on bonds payable account.

Q: Un 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000 The company…

A: Bond is an instrument which is issued at par, discount or at premium.  When company required the…

Q: Current Attempt in Progress On January 1, 2018, Sheffield Corporation issued $5100000, 10-year, 8%…

A: Issue price of bond = Face amount * 103% = $5,100,000*103% = $5,253,000

Q: Wildhorse Corporation issued 4,100, 6%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest…

A: Calculate the interest payable as follows: Interest payable = Value of bonds * Interest rate…

Q: On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with…

A: Hi since you have posted a question with multiple subparts we are solving the 1st 3 subparts for…

Q: Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest…

A: scheduling an Straight-line amortization   semiannual period -end unamortized discount Carrying…

Q: Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal…

A: Given that, the corporation issued 10 bonds. value of bonds issued = $1000 issue price of bond = $98…

Q: Supersonic Company was authorized to issue P7, 000,000 face values, 12%, 10-years bonds on April 1,…

A: The journal entries for 2019 and 2020 including adjustments and partial statement of financial…

Q: QUESTION 24 On January 1, 2015, a company issues 5-year bonds with a stated interest rate of 6% and…

A: On maturity  the bonds will be redeemed  at its face value.  Only  at time of issue of bonds their…

Q: On 1 January 2019 the company "A" S.A. issued bonds worth 500,000 at an interest rate of 4%, lasting…

A: Interest Expense = 500,000 x 4% = 20,000

Q: On March 15, 2022, Red Company issue financial statements. Its fiscal year ends December 31, 2021.…

A: Red Company  Bonds issued after the balance sheet is a common occurrence that requires no disclosure…

Q: 6. Farhan Corporation issued $ 1,000,000 of 8%, 28-year bond on January 1, 2020, at 119.792 to yield…

A: The bonds are issued at premium and further semi-annual interest is paid. The journal entries are to…

Q: Question 8: On January 1, 2019, Western Manufacturing Corporation issued $3,000,000, 10%, 5-year…

A: Bonds are kinds of instrument issued by company acknowledging the debt due by company to outsider.…

Q: Jordan Company issues €50,000,000, 7.8%, 20-year bonds to yield 8% on July 1, 2018. Interest is paid…

A: Bonds are the debt security which is offered or issued by the corporates or the government to…

Q: Sheffield Corp. issued 2,100, 6%, 5-year, $1,000 bonds dated January 1, 2019, at 100. Interest is…

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

Q: April 10, 2021 – Alfa Issued 170,000 bonds with a nominal value of € 1.5. The issuance had a…

A: Bonds: Bonds are the financial securities issued by a company over and above or less than its…

Q: Clan Company issued 3 year 12% bonds with face amount of P2,000,000. Interest is payable…

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

Q: 1. On January 1, 2019 Nineteenth Hole Company sold a 20 year Bond issue of $4,000,000. The Bonds…

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

Q: need the steps and answers

A: Bond refers to fixed income instrument showing indebtedness to holders of bond.

Q: Problem 4: DONNER Company issued 3-year, 12% bonds with face amount of ₱4,000,000. Interest is…

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

Q: On March 1, 2021 Lesley Company issued at 103 plus accrued interest 4,000 of 9% P1,000 face value…

A: Solution: Accrued interest on Bond = 4,000*P1,000*9%*2/12 = P60,000 Proceed from issue of bond =…

Q: Question 17 - Journalize the following transactions CAB Corporation issues $9,000,000 of 5 year, 8%…

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

Q: Potter Corporation issued $500,000 of 5​%, 12​-year bonds payable on March​ 31, 2019. The market…

A: Answer 1 Face value of the bond is $5,00,000 however same has been issued at discount. If coupon…

Q: X Corporation borrowed money by issuing $100,000 of bonds at 103 on January 1, 2019. The bonds pay…

A: Introduction:- A journal entry is an act of recording or keeping track of any financial or…

Q: On January 1, 2019, Knorr Corporation issued $1,000,000 of 9%, 5-year bonds dated January 1, 2019.…

A: A bond refers to the instrument which is issued by the government to borrow money when needed. It is…

Q: Question 18 - Journalize the following transactions • AB Corporation issues $5,000,000 of 5 year, 6%…

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

Q: Question 2 On April 1, 2019, Ellison Co. issued 4-year, 8%, €100,000 face value bonds. The bonds…

A: (a) Bond Amortization Schedule: (Amount in Euros) Date…

Q: On July 1, 2022, bonds of P2,000,000 face amount were Interest on the bonds is payable semiannually…

A: The procedure of entering commercial transactions for the very first time in the books of accounts…

Q: Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest…

A: Solution (4) : Date Particulars Debit Credit 30 June , 2019 Interest expense 19,598.50…

Q: Question 8 : On January 1, 2019, Western Manufacturing Corporation issued $3,000,000, 10%, 5-year…

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

Q: Problem 2: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount…

A:

Q: ornerstone Exercise 9-27 (Algorithmic) Debt Issued at a Discount (Straight Line) On January 1,…

A: In a straight depreciation, premium is amortised uniformly through out the life of the bond.

Q: The amount of discount amortized on July 1,2019 is

A: Discount on the issue of Bonds = Face Value - Proceeds from issue of Bonds Amount of Discount…

Q: Culver Corporation issued 2,800 9%, 7-year, $1,000 bonds dated January 1, 2022, at face value.…

A:

Q: Three year 8% bonds of SR 100,000 issued on Jan. 1, 2007, are recalled at 105 on Dec. 31, 2008.…

A:

Q: Foreman Corporation issued P800, 000 of 10% 20 year bonds on January 1, 2019, at P102. Interest is…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Question 7: Messi issues $3,400,000 of 10%, 10-year bonds dated January 1, 2019, that pay interest…

A: Bonds payable are long-term liabilities in which the bonds have been issued in lieu of the amount…

Q: Farhan Corporation issued $ 1,000,000 of 8%, 28-year bond on January 1, 2020, at 84.95 to yield 8%.…

A: Answer and calculations are given are given below

Q: E-Tech Initiatives Limited plans to issue $630,000, 10-year, 6.00 percent bonds. Interest is payable…

A: Par value of Bonds:          $ 630000Issue price:                                    103Total Issue…

Q: Eaton Company issued $600,000 of eight percent, 20‑year bonds at 106 on January 1, 2013. Interest is…

A: Issue Price of Bonds: 600,000 x 106/100 = $636,000 Face value of Bonds = $600,000 Premium on Bonds =…

Q: E 14-7 Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816.…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: 10. Company A has $ 100,000 of 5 % bonds that mature on December 31, 2020. (Note that all interest…

A: Bond  Payable = $100,000 Interest Rate = 5%

Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.