A $1,500,000 bond issue on which there is an unamortized discount of $70,100 is redeemed for $1,455,000. Journalize the redemption of the bonds.
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Q: A $1,500,000 bond issue on which there is an unamortized discount of $70,100 is redeemed for…
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Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…
A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200
Q: A $500,000 bond issue on which there is an unamortized discount of $50,000 is redeemed for $475,000.…
A: Given Information: Issue of bonds = $500,000 Unamortized discount = $50,000 Redeemed for = $475,000
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A: Payment made on redemption = Bond face value x rate of redemption = $300,000 x 104% = $312,000…
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A: Given data: Value of Bond: $278,000 Carrying amount of bond : $273,830 Redeemed at 98 If the…
Q: Journalize the redemption of the bonds
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Q: A $515,000 bond issue on which there is an unamortized discount of $41,000 is redeemed for $473,000.…
A: Given that: Bond value = $515000 Unamortised discount = $41000 Redemption value = $473000
Q: A Redemption of bonds payable A $1,500,000 bond issue on which there is an unaumortized discount of…
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Q: A $650,000 bond issue on which there is an unamortized discount of $45,00, is redeemed for $600,000.…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: A $300,000 bond was redeemed at 104 when the carrying amount of the bond was $316,000. The entry to…
A: Total amount paid for bond redemption = $300,000×104% =$312,000
Q: A $920,000 bond issue on which there is an unamortized premium of $65,000 is redeemed for $821,000.…
A: Calculate the carrying amount of bonds payable:
Q: A $500,000 bond issue on which there is an unamortized discount of $35,000, is redeemed for…
A: Outstanding Bonds of $465,000 ($500,000 - $35,000) are redeemed for $475,000 So, $10,000 is the Loss…
Q: On January 1, Year 1, Price Co. issued $219,000 of five-year, 8 percent bonds at 96. Interest is…
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Q: A $545,000 bond issue on which there is an unamortized discount of $37,000 is redeemed for $472,000.…
A: Given, Face value of bonds = $545,000 Unamortized discount = $37,000 Redemption value = $472,000
Q: A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for…
A: Journalize the redemption of the bonds.
Q: On January 1, $954,000, 5-year, 10% bonds, were issued for $925,380. Interest is paid semiannually…
A: Discount = Face value - Issued amount = $954000-925380 = $28620 Term of bonds = 5 years i.e 10…
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A: Bonds are the debt instruments using which and entity can raise finance.
Q: he entry to record the redemption would include a
A: The correct option is: d.gain on bond redemption of $12,240. Gain on bond redemption is calculated…
Q: (a)Prepare the journal entry to record the sale of these bonds on January 1, 2022. (b)Prepare the…
A:
A $1,500,000 bond issue on which there is an unamortized discount of $70,100 is redeemed for $1,455,000. Journalize the redemption of the bonds.
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- Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable semiannually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of discountDixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of discount D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of discountOn Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semiannually. What is the journal entry to record the issuance of the bonds?
- Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $540,000. Interest is payable annually. The premium is amortized using the straightline method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of premium D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of premiumAggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018, and received $540,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of premiumWaldron Inc. issued $400,000 bonds with a stated rate of 7% when the market rate was 5%. They are 3-year bonds with interest to be paid annually. Prepare a table to amortize the premium of the bonds. Assume that the bonds were issued for $421,844.
- Huang Inc. issued 100 bonds with a face value of $1,000 and a 5-year term at $960 each. The journal entry to record this transaction includes ________. A. a debit to Bonds Payable for $100,000 B. a debit to Discount on Bonds Payable for $4,000 C. a credit to cash for $96,000 D. a credit to Discount on Bonds Payable for $4,000Allante Corporate issued 50 bonds with a face value of $1,000 and a stated rate of 4% and received $45,000. What is the journal entry to record the sale of the bonds?Willoughby Inc. issued 100 bonds with a face value of $1,000 and a stated rate of 4% and received $105,000. What is the journal entry to record the sale of the bonds?
