Chapters 10 and 11 HOMEWORK XCengageNOWv2| Online teachin xXhttps://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres.Chapters 10 and 11еBookShow Me HoWPrint ItemIssuing Bonds at a DiscountOn the first day of the fiscal year, a company issues a $4,500,000, 10%, 9-year bond that pays semiannual interest of $225,000 ($4,500,000 x 10% x ½), receiving cash of $3,795,809.Journalize the bond issuance. If an amount box does not require an entry, leave it blank.5:20 PM2 Type here to searchN82°F9/25/20212+

A journal entry is used to record day-to-day business operations by debiting and crediting…

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 54BE

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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
Brief Exercise 10-10 Flounder Corp. issued 1,500 9%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1.(a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 enter an account title for the journal entry on January 1,2017 enter a debit amount enter a credit amount enter an account title for the journal entry on January 1,2017 enter a debit amount enter a credit amount (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022 enter an account title for the journal entry on December 31,2017…
TB Problem 14-183 (Algo) On January... On January 1, 2024, for $18.8 million, Marker Company issued 10% bonds, dated January 1, 2024, with a face amount of $20.8 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Required: Prepare the journal entry to record interest on June 30, 2024, using the effective interest method. Prepare the journal entry to record interest on December 31, 2024, using the effective interest method.
Pls answer number 10 with solutions On January 1, 20x1, SALIENT PROMINENT Co. issued 1,000, ₱4,000, 12%, 3-year bonds for ₱4,412,336. Principal is due on December 31, 20x3 but interests are due annually every year-end. In addition, SALIENT incurred bond issue cost of ₱213,388. What is the effective interest rate on the bond issue? a. 8% c. 12% b. 10% d. 13%
Please continue assisting with questions 4,5 6 Problem #1 Hillside issues $4,000,000, 6%, 15-year bonds dated January 1, 2023. The bonds pay interest semi-annually on June 30 and December 31. The bonds were issued at $3,456,400. Record the journal entry to issue the bonds on January 1, 2023. a. Record the journal entry to pay the semi-annual interest payment and amortize the discount on June 30, 2023. Record the journal entry to pay the semi-annual interest payment and amortize the discount on Dec. 31, 2023. On March 31, 2029, Hillside calls the bonds at 101. Record the journal entry to call the bonds. What is the total interest expense for the bonds for: One full year? The entire 15-year life of the bond? (if the bond had been held until maturity) What is the carrying value of the bonds on: December 31, 2023? December 31, 2024?
ACCT 102 - Please do subparts A1 and A2 ONLY. A1 is two steps, first "record the accrual of bond interest expense for 4 months in 2021" A2 starts off exactly like this as well. However the second step of A1 is to "Record semiannual bond interest payment and interest expense for two months." A2 says "Record payment of bond interest on March 1st, 2022, under assumption bonds were issued at 101." ALL QUESTIONS MUST BE ANSWERED USING GENERAL JOURNAL
Question 36 On January 1, 2018, Marigold Corporation issued $4200000, 10-year, 9% bonds at 102. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2018 is Cash 4200000 Bonds Payable 4200000 Cash 4284000 Bonds Payable 4200000 Premium on Bonds Payable 84000 Cash 4284000 Bonds Payable 4284000 Premium on Bonds Payable 84000 Cash 4200000 Bonds Payable 4284000
Cornerstone Exercise 9-46 (Appendix 9A) Bond Issue Price On December 31, 2014, Callahan Auto issued $900,000 of 9%, 10-year bonds. Interest is payable semiannually on June 30 and December 31. Required: What is the issue price if the bonds are sold to yield 8%? Follow the format shown in Present Value tables as you complete the requirement. If required, round your calculations and final answer to the nearest whole dollar.$
Need the answers asap! Thank you for help! Answer both the subparts a,b On December 31, 20x0, the Robin Corporation issues $5,000,000 of 5% bonds. The bonds are due on December 31, 20x10 and were issued to yield 4.6%. The bonds pay interest semi-annually on June 30 and December 31. Bond issue costs of $53,000 were incurred. Required – a) Prepare all journal entries relative to this bond issue for the years ended December 31, 20x0 and December 31, 20x1. b) Assume that on July 2, 20x7, Robin repurchases 45% of the bond issue at 105. Prepare the journal entry on July 2, 20x7. Also prepare the journal entry on December 31, 20x7.
10. Journal entry worksheet: 1. Record the bond issue. (Jan. 01, 2021)2. Record the first semiannual interest payment. (June 30, 2021)3. Record the second semiannual interest payment. (Dec. 31, 2021)thank you so much!
the only Requirement no 5 I want please help me Q5: Romero issues $3,400,000 of 10%, 10-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,010,000. Required Prepare a January 1, 2015, journal entry to record the bonds’ issuance. For each semiannual period, compute (a) the cash payment, (b) the straight-line discount amortization, and (c) the bond interest expense. Determine the total bond interest expense to be recognized over the bonds’ life. Prepare the first two years of an amortization table using the straight-line method. Prepare journal entries to record the first two interest payments.
Brief Exercise 10-09 Oriole Company issues $325,000, 20-year, 7% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when 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

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