Diana Inc. issued $300,000 of its 5%, 5-year bonds for $287,215 when the market rate was 6%. The bonds pay interest semi-annually. Prepare an amortization table for the first three payments. Round intermediate and final answers to whole dollar amount.   Cash Interest Payment Interest on Carrying Value Amortization of Discount Carrying Value Jan. 1, Year 1               $fill in the blank 1 June 30, Year 1 $fill in the blank 2      $fill in the blank 3      $fill in the blank 4      fill in the blank 5 Dec. 31, Year 1 fill in the blank 6      fill in the blank 7      fill in the blank 8      fill in the blank 9 June 30, Year 2 fill in the blank 10      fill in the blank 11      fill in the blank 12      fill in the blank 13

Q: The following transactions were completed by Winklevoss Inc. whose fiscal year is the calendar year.…

A: Bonds Payable: Bonds payable is a long term debt for a company. Company issue bonds for raising cash…

Q: 1.Journalize the entries to record the foregoing transactions. Round all amounts to the nearest…

A:

Q: On July 1, Year 1, Khatri Industries Inc. issued $18,000,000 of 10-year, 5% bonds at a market…

A: Coupon rate = 5%/2 Coupon rate = 2.5%   Market rate = 6%/2 Market rate = 3%   Number of periods =…

Q: On January 1, 20x1, Faith Co. issued 1,000, P2,000, 12% bonds for P2,206,168. Principal is due on…

A: Calculation of Interest: Particulars Amount (P) Cash Proceeds (Issue Price) 2,206,168 Less:…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Given that  following details are the transactions of Winklevoss Inc. Journal entries it is the…

Q: Assume that on January 1 of the current year, $100,000 of 5-year, 12% bonds, with interest payable…

A: Premium on Bonds = Issue price of bonds - Face value of bonds = $103,769 - $100,000 = $3,769…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Journal entries refers to the recording or the posting of the business transactions into the books…

Q: Diana Inc. issued $100,000 of its 6%, 5-year bonds for $95,852 when the market rate was 7%. The…

A: Amortization of bond premium - The process of reducing the value of premium over the life of the…

Q: On January 1, Year 1, a company issues $570,000 of 7% bonds, due in 10 years, with interest payable…

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

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Bonds are the debt financial instrument issued by the company to raise the funds and in return…

Q: On April 1, Year 1, Brandi Corporation issued $20,000,000 of 5-year, 9% bonds at a market interest…

A: a. Issuance of the bonds on April 1, Year 1: Date Accounts title and explanation Debit ($) Credit…

Q: Diana Inc. issued $350,000 of its 7%, 5-year bonds for $335,816 when the market rate was 8%. The…

A: Semi-annually interest payment = Face value of bonds x rate of interest x 6/12 =350000*7%*6/12 =…

Q: On March 1, 2011, Fast Freight Company sold Rs. 400,000 of its 9 percent, 20-year bonds at 109.9.…

A: Amortization Schedule Date Interest payment Interest Expense Amortization of premium Balance in…

Q: Oak Branch Inc. issued $720,000 of 4%, 10-year bonds when the market rate was 3%. They received…

A: Date Cash Interest Payment $ Interest on Carrying Value (@1.5%) $ Amortization of Premium $ Carrying…

Q: On July 1, Year 1, Khatri Industries Inc. issued $43,200,000 of 10-year, 4% bonds at a market…

A: Journal entries means the entries to be recorded in the accounting books of the business for all the…

Q: Oak Branch Inc. issued $100,000 of 5%, 10-year bonds when the market rate was 4%. They received…

A: Given, Face value = $100,000 Coupon rate = 5% Issue price = $106,983 Market rate = 4%

Q: On January 1, Innovative Solutions, Inc., issued $160,000 in bonds at face value. The bonds have a…

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

Q: On January 1, 20x1, Faith Co. Issued 1,000, P2,000, 12% bonds for P2,206,168. Principal is due on…

A: Working note: Premium amortization schedule:

Q: On July 1, 2010, Remington Chemical Company issued $4,000,000 face value, 10%, and 10-year bonds at…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Year1       July        1   Cash                                       $69,552,279…

Q: On July 1, 20Y1, Danzer Industries Inc. issued $50,000,000 of 10-year, 8% bonds at a market…

A: Definition:

Q: Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $30,000,000 of…

A: The Net Present Value(NPV) is the difference between the present value of cash inflow and the…

Q: Oak Branch Inc. issued $800,000 of 5%, 10-year bonds when the market rate was 4%. They received…

A: Cash InterestPayment Interest onCarrying Value Amortization ofPremium  Carrying Value   (A) =…

Q: On January 2, Year 1, Kampai Sushi Bar sold $800,000 of bonds for $785,000. The bonds will mature in…

A: Since the bond is sold for lesser amount and the bond will mature in 10 years, each year the amount…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Solution 1-                                                                          Journal entries…

Q: Oak Branch Inc. issued $860,000 of 5%, 10-year bonds when the market rate was 4%. They received…

A: Definition: Interest: Amount charged on the borrowed principal amount.

Q: -year term to maturity. The bonds sold at 96. Interest is payable in cash on December 31 of each…

A: Bonds are issued at discount or premium to the face value of bond and that discount is amortized…

Q: The following transactions were completed by Montague Inc., whose fiscal year is the calendar…

A: 1.Journalize the entries to record the transactions.

Q: On January 1, 20x1, Hope Co. issued 5-year, 12%, P2,000,000 bonds for P2,151,632. Principal is due…

A: Working note: Bond premium amortization schedule:

Q: Oak Branch Inc. issued $820,000 of 6%, 10-year bonds when the market rate was 5%. They received…

A: Here in this question, we are required to prepare amortization table for the first three years. When…

Q: Ohlson Co. is preparing an Excel spreadsheet for its 20-year, 4.5%, $500,000 bonds payable. The…

A: Interest: The money charged by the lender for using lender’s funds is referred to as interest. So,…

Q: Waldron Inc. issued $400,000 bonds with a stated rate of 7% when the market rate was 5%. They are…

A: Bonds are the debt obligations of a business on which it requires to pay regular interest to the…

Q: A company issues $50,000 of 4% bonds, due in 5 years, with interest payable semiannually. Assuming a…

A:

Q: 0,000 of its 9%, 5-year bonds for $144,218 when the market rate was 10%. The bonds pay interest…

A: Amortization refers to the process of systematically declining the initial cost of an asset.

Q: b. First interest payment on October 1, Year 1, and the amortization of bond premium for 2 months,…

A: Bonds:   Bonds are the financial debt instruments issued by the corporations to raise capital for…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: a.

Q: On January 1, Year 1, Tina Company purchased bonds with face value of P4,000,000 for P4,206,000. The…

A: As per IFRS 9, Financial instruments, if any financial asset is held to collect the contractual cash…

Q: The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar…

A: Bonds: These are financial instruments issued by the company to the public, to raise funds. Periodic…

Q: On January 1, 2012 Zesto Company received $1,032,880 for $1,000,000 face amount, 12% bonds, a price…

A: Semiannual interest payment = face value of bonds x interest rate x 6/12 = 1000000*12%*6/12 = $60000

Q: Diana Inc. issued $100,000 of its 9%, 5-year bonds for $96,149 when the market rate was 10%. The…

A: Bond: When the company needs money, the company issues fixed-income security that the investor buys.…

Q: Diana Inc. issued $300,000 of its 5%, 5-year bonds for $287,215 when the market rate was 6%. The…

A: Bond issued at $ 287215 and face value of bond is $300000. Discount on bond issue = $300000-$287215=…

Q: On January 1, Innovative Solutions, Inc., issued $200,000 in bonds at face value. The bonds havea…

A: Interest payment on December 31  = Face value of bonds x rate of interest x period = $200,000 x 6% x…

Q: Montana Inc. issued $900,000 of 12-year bonds with a stated rate of 8% when the market rate was 9%.…

A: Bonds are debt securities issued by Government or other companies, who seek to raise money from…

Q: . On December 1, 20x1, AVS Company issued 10% bonds with a face amount of $20 million. The bonds…

A: As per the given information: Bonds issued - 10% bonds - $20 million Maturity - 5 years Market yield…

Q: On January 1, 20x8, James Corporation issued $500,000, 10%, 5-year bonds, at 98. The bonds pay…

A: When any bond is issues at less than its face value then it is called bond issued at discount while…

Q: On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: Haiku Inc. issued $600,000 of 10-year bonds with a stated rate of 11% when the market rate was 12%.…

A: Loan amortization is the process of reimbursement of loan periodically by the borrower of the loan…