Culver Corporation issued 2,800 9%, 7-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1.    what is the journal entry to record the sale of these bonds on January 1, 2022.

Q: On March 1, 2021, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of…

A: Bonds Payable: Bonds payable are recorded when a company issues bonds to generate cash. Cash…

Q: On April 1, 2021, Cain Company issued at 105 plus accrued interest 4,000 of its 9%, P1,000 face…

A: Interest =Bonds issued×Face value×Rate of interest×312=4,000×P 1,000×9%×312=P 90,000

Q: Cullumber Company issued $400,000 of 5-year, 5% bonds at 95 on January 1, 2022. The bonds pay…

A: Bond: It refers to a financial instrument that reflects an acknowledgement of debt and states a…

Q: Marbel Company was authorized to issue 12% bonds payable with face amount of P5,000,000 on April…

A: Bonds are those units that are issued by the companies and securitized as tradeable assets. It is a…

Q: Oriole Company issued $760,000, 7%, 10-year bonds on January 1, 2022, for $815,933. This price…

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

Q: On January 1, 2020, Fergus Corporation issued $800,000, 10%, 5-year bonds. The bond interest is…

A: SOLUTION INTEREST EXPENSE TO BE RECOGNIZED FOR 6 MONTHS = BONDS BOOK VALUE AT THE BEGINNING OF THE…

Q: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10% bonds…

A: The carrying value of a bond is the par value or face value of that bond plus any unamortized…

Q: Sheridan Company issued $279,000, 9%, 15-year bonds on December 31, 2021, for $267,840. Interest is…

A: In the given question we need to prepare the journal entries for following: (a)The issuance of the…

Q: Simko Company issued $630,000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for…

A: Bonds are generally long-term debt. The company issue bonds for investment purpose and paid interest…

Q: Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1, 2022. The bonds were dated January…

A: journal entry        Date  Account titles & explanations  Debit  Credit…

Q: On March 1, 2021, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of…

A: Requirement 1:

Q: Nixon Company reported 10% bonds payable with carrying amount of P5,700,000 on January 1, 2020. The…

A: Given information, 10 per cent interest on bonds payable Face amount= P6,000,000. Yield =12%

Q: A. On January 1, 2021, Bradley Company issued $100,000, 9%, 4-year bonds. Interest is paid…

A:

Q: Simko Company issued $670,000, 10-year, 4 percent bonds on January 1, 2021. The bonds were issued…

A: When, the debentures are issued at less than par value, it is has been issued at discount. The…

Q: On April 1, 2021, ORANGE Inc. issued at 97 including accrued interest, 2,000 of its 10%,₱1,000…

A: Accrued interest on bonds = face value of bonds x rate of interest x no. of months/12 =…

Q: Medow corporation issued 3000 7%, 5 year, P1,000 bonds on January 1 2022 at face value. Inter paid…

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

Q: On July 1, 2022, Mercurial Company issued at 98 plus accrued interest 2,500 of its 11%, P1,000 face…

A: Solution : Given Face value of bond         =P1000 Issue price                        =98%…

Q: On January 1, 2021, MACADAMIA Company issued 5 year bonds with face value of ₱5,000,000 at 110. The…

A: Net issue price = (Face value of bonds x issue price/100) - Bonds issue cost = (₱5,000,000 x…

Q: On May 1, 2022, Blossom Corp. issued $820,000, 12%, 5-year bonds at face value. The bonds were dated…

A: Interest expense is the amount of expense incurred by an entity. It is paid to the bond holder in…

Q: Ivanhoe Company issues $3,000,000, 10-year, 8% bonds at 93, with interest payable each January 1.…

A: The bonds are the financial instruments for the business used to raise money from the market. The…

Q: n January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

A: Solution Working note Coupon amount               =600000*7% / 2…

Q: Sealy Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2021, at 97. The journal…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bonds with…

A: A. Prepare all necessary journal entries for the calendar year 2021. Date Particulars Post Ref…

Q: Crane Corporation issued 3,200, 6%, 5-year, $ 1,000 bonds dated January 1, 2022, at 100. Interest is…

A: Journal entry is a primary entry that records the financial transactions initially.

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

A: A journal entry is being used to record a commercial transaction in the accounting records of a…

Q: Xonic Corporation issued 8 million of 20 year, 8 percent bonds on April 1, 2018, at 102. Interest is…

A: a. Following is the journal entry of issuance 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: On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bonds with…

A: Since we answer only upto three sub-parts, we shall answer the first three. Please resubmit a new…

Q: On March 1, 2021, Brown-Ferring Corporation issued $100 million of 12% bonds, dated January 1, 2021,…

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

Q: Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1, 2022. The bonds were dated January…

A: Bonds are the instrument used in financial market as a debt instrument to borrow the fund from the…

Q: On July 1, 2020, Kwek-kwek Company issued 600 of its 10%, P1,000 bonds at 99 plus accrued interest.…

A: The bonds are issued at premium or discount depending on the market rate of interest of bonds.

Q: On August 1, 2022, Bridgeport Corp. issued $483,600, 7%, 10-year bonds at face value. Interest is…

A: given that, Bridgeport Corp. issued bonds worth $483600 Rate of interest = 7% life of bond = 10…

Q: On August 1, 2021, Space Company issued at 97 plus accrued interest, 2,500 of its 12%, P1,000 bonds.…

A: Formula: Cash received on the issue of bonds= Face value of bond x Issue rate of bonds.

Q: Diaz Company issued $139,000 face value of bonds on January 1, 2018. The bonds had a 7 percent…

A: Concept:

Q: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10% bonds…

A: What is meant by Journal entries? It is the first step to record the financial transactions in the…

Q: Arrieta Company purchased $2,250,000 of 8% bonds of Baez Company on January 1, 2023, paying…

A: solution : given face value           =$2250000 coupon rate       =8% market rate of interest = 10 %…

Q: On May 1, 2018, Green Corporation issued $1,100,000 of 12% bonds, dated January 1, 2018, for…

A:

Q: On January 2, 2021, YELLOW Co. issued 9% bonds in the amount of ₱1,000,000 which mature on January…

A: Solution: Bond Issue price = P939,000 Amount of interest expense for the year ended Dec 31, 2021 =…

Q: On January 1, 2018, Nebal Manufacturing Corporation issued $5,000,000, 10%, 6-year bonds dated…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: a. McEntire Co. sold $2,500,00o of 11%, 10-year bonds at 106.231 to yield 10% on January 1, 2022.…

A:

Q: BMT Company issued P5,000,000, 12%, 20-year bonds at 102 plus accrued interest on February 1, 2021.…

A: Accrued interest on the bonds company collect from the investor on February 1, 2021 = Face value of…

Q: On May 1, 2018, ABC Corporation purchased $1,500,000 of 12% bonds, interest payable on January 1 and…

A: A bond is an instrument of raising funds. It has a fixed interest rate which is the paid by the…

Q: On January 1, 2021, Solo Inc. issued 1,300 of its 8%, $1,000 bonds at 97.7. Interest is payable…

A: The carrying value of the bond as on December 31, 2021 = Net Proceeds + First year discount…

Q: Un July 1, Kwek-kwek Company issued 600 of bonds at 99 plus accrued interest. The bonds are dated…

A: A trader aims to make short-term profits by repeatedly buying and selling stocks, whereas an…

Q: Carla Vista Corporation issued 2,800, 6%, 5-year, $1,000 bonds dated January 1, 2022, at 100.…

A: Introduction: Bonds are issued with the assistance of governments and enterprises in order to raise…

Q: Cullumber Company issued $400,000 of 5-year, 5% bonds at 95 on January 1, 2022. The bonds pay…

A: Proceeds from issue of bonds = Face value of bonds x issue price/100 = $400,000 x 95/100 = $380,000

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: On March 1, 2021, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of…

A:

Q: Clem Company issued $800,000, 10-year, 5 percent bonds on January 1, 2015. The bonds soldfor…

A: In this question, we have required to pass the journal entry of issue of the bond issue and the…

Q: (a)Prepare the journal entry to record the sale of these bonds on January 1, 2022. (b)Prepare the…

A: