Brief Exercise 10-08 Metlock, Inc. issues $264,000, 10-year, 10% bonds at 99. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title   enter a debit amount   enter a credit amount   Enter an account title   enter a debit amount   enter a credit amount   Enter an account title   enter a debit amount   enter a credit amount

Q: Bramble Corp. issued 3,400 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: Given:

Q: Blossom Inc. issues $210,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Bond Issued at Par ABC company’s accounting year ends on December 31. On 2010 December 31, ABC…

A: Solution Bond issued at par means Issue price          =face value If bond is issued at par it means…

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

A: Total cash received from Bond issue = 4100*$1000 = $4,100,000

Q: Brief Exercise 10-09 Oriole Company issues $325,000, 20-year, 7% bonds at 103. Prepare the journal…

A: Calculate the amount of cash received.

Q: Issuing Bónds at a Premium On the first day of the fiscal year, a company issues a $5,300,000, 8%,…

A: Bonds are issued by companies for collecting economic resources for working. They pay a certain…

Q: Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31.…

A: 1. Date Account Titles and Explanation Debit Credit Jan. 1 Cash ($3,200,000*96/100)…

Q: Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc.…

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

Q: Korean Corporation issued $2 million, 10-year, 6% bonds on January 1, 2021.     1) Prepare the entry…

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

Q: 9. In the statement of financial position of Kansas, Inc. as of December 31, 2011, the accounts in…

A: Redemption value = face value x redemption price  = 1000000 x 96/100 = P960,000

Q: Bramble Corp. issued 1,200 9%, 8-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Cheyenne Corp. issued 1,400 9%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: The following calculations are done in the books of Cheyenne Cope to record the issue of bond…

Q: 9. In the statement of financial position of Kansas, Inc. as of December 31, 2011, the accounts in…

A: Number of bonds payable = P1,000,000P100 = 10,000

Q: Moore Corp. issued 5.5​% two​-year bonds payable with a face amount of $60,000 when the market…

A: Bonds Payable - Bonds are the obligation that required to be paid at fixed duration of time. It…

Q: Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc.…

A: Journal entries are used to record entries in chronological order for a business.

Q: Brief Exercise 10-10 Pina Colada Corp. issued 2,100 8%, 9-year, $1,000 bonds dated January 1, 2017,…

A: Journal:   It is the first step of recording financial transactions. It is used to prepare the…

Q: 1. Camden Co. issued $200,000 of 10%, 2 year bonds on January 1, 2018. The bonds pay interest on…

A: Solution A: Computation of bond price Table values are based on: n= 4     i= 6.00%…

Q: Pharoah Company issues $3,000,000, 10-year, 7% bonds at 93, with interest payable each January 1.…

A: Definition:   Bonds: Bonds are a kind of interest bearing notes payable, usually issued by…

Q: Cucumber Electric sold $3,300,00, 8%, 10-year bonds on January 1, 2022. The bonds were dated January…

A: Under straight line method, the premium or discount is amortized with equal amounts. The bonds are…

Q: Blossom Company issues $ 1,000,000, 10-year, 10% bonds at 95, with interest payable each January 1.…

A: Bonds are the issued for collecting resources and it is considered as a cheaper source of finance…

Q: need the steps and answers

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

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: Blossom Company issues $2.10 million, 10-year, 7% bonds at 97, with interest payable each January 1.…

A: Proceeds from issue of bonds = Face value of bonds x issue price /100 = $2100000*97/100 = $2037000

Q: andings Glassware Company issues $1,066,000 of 16%, 10- year bonds at 94 on February 28, 2025. The…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: Sheridan Company issues $3.80 million, 20-year, 5% bonds at 97, with interest payable on December…

A: The primary reporting of the entries or transactions in the books is known as journal entry.

Q: Jan 1, 16, Google issues 3,000 of its 10%, 1,000 bonds for 3,120,000. These bonds were to mature on…

A: Bonds are sort of debt for the company and has to be mandatorily repaid.

Q: On January 1, 2022, Ivanhoe Company issued $425,000, 12%, 10-year bonds at face value. Interest is…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: ISsuing B0 On the first day of the fiscal year, a company issues a $5,300,000, 8%, five-year bond…

A: The question is based on the concept of Financial Accounting.

Q: Blossom Company issues $1,000,000, 10-year, 10% bonds at 95, with interest payable each January 1.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…