On January 1, 2018, Lane Unlimited issues a 9%, 10- year bonds payable with a face value of $240,000. The bonds are issued at 105 and pay interest on June 30 and December 31.   Journalize the semiannual interest payment and amortization of bond premium on June 30, 2018.

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest…

A: Solution 1:       Journal Entries - Hillside Date Particulars Debit Credit 1-Jan-21 Cash…

Q: A company issues 8%, two-year bonds on December 31, 2018, with a par value of $7,000 and semiannual…

A: The bonds are issued at premium when bonds' market rate is higher than the stated rate of interest.

Q: On January 1, 2020, the Rangler Company issued $600,000 of eight-year bonds at 102. The stated…

A: Cash(600000*102/100) Dr $612000 Bond payable  Cr                      $600000 Premium on issue   Cr.…

Q: On March 1, 2020, Sandollar Inc. issued $90,000 of bonds at 105, paying 8% cash interest…

A: Journal: Recording of a business transactions in a chronological order.   As posted multiple sub…

Q: On January 1, 2021, for $18 million, BBCompany issued 10% bonds, dated January 1, 2021, with a face…

A: Effective interest method: The method of amortization that uses fixed interest rate (effective…

Q: On July 1, 2013, AC Corporation issued one thousand of its 10%, P1,000 callable bonds for P960,000.…

A: Total discount on bonds = Face value of bonds - issue value = P1000000 - 960000 = P40,000

Q: On January 1, 2016, Crammer Inc. issues five-year bonds with a total face amount of $1,000,000 and a…

A: Bonds payable is a form of liability being incurred by the business, on which regular interest…

Q: On January 1st, 2020, Clem Company issued $300,000 of 10-year, 6% bonds on January 1, 2018. The…

A: Journal entries refers to the process of systematic documentation of the financial transactions of a…

Q: On January 1, 2018, Reese Incorporated issued bonds with a face value of $140,000, a stated rate of…

A:

Q: On January 1, 2019, G Sports Corporation issued 10% bonds with a face value of $200,000. The bonds…

A: SOLUTION- DISCOUNT ON BONDS IS THE DIFFERENCE BETWEEN THE ISSUE PRICE AND THE FACE VALUE OF BOND.…

Q: On July 1, 2018, McNamara Company issued for $598,964, 10%, 20-year bonds with a face value of…

A: When bonds are issued at premium the premium on bonds payable is amortized over the life of the…

Q: Baron, Inc., issued $100,000 of its 8%, five-year bonds on January 1, 2016, at 98. Interest is paid…

A: Given, Jan 01, 2016 8% 5 year Bonds issued @ discount ($98) Face value = $ 100000   April 01, 2018…

Q: On June 30, 2020, Blossom Limited issued $2 million of 20-year, 13% bonds for $2,320,916, which…

A: The bonds payable are issued at premium when market rate is less than the coupon rate of bonds…

Q: On January 1, 2018, Reese Incorporated issued bonds with a face value of $120,000, a stated rate of…

A:

Q: [The following information applies to the questions displayed below.] Hillside issues $4,000,000 of…

A: The bonds payable are issued at premium when market rate is lower than the coupon rate of bonds…

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

A: Requirement 1:

Q: ed ten-year bonds with a face value of $5,000,000 and a stated interest rate of 6%, payable…

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…

Q: On January 1, 2021, Lyle's Limeade issues 3%, 20-year bonds with a face amount of $78,000 for…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds.

Q: On January 1, 2018, Global Sales issued $25,000 in bonds for $29,800. These are eight-year bonds…

A: Bonds are issued by a firm in order to raise fund. Bonds are purchased by investors and they get a…

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: On January 1, 2018, Parker Company issued bonds with a face value of $63,000, a stated rate of…

A: Amortization means decrease in the amount of debt over a period of time by paying some amount…

Q: Prepare journal entries for the following transactions.

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: On January 1, 2021, Bank Nizwa. issued RO 90,000, five-year, 12% bonds at (100% of face value). The…

A: At the time of issue of the bond, interest is not recorded. It is recorded when the amount becomes…

Q: $939,000 to yield 10%. Alquds uses the effective-interest method of amortizing bond discount.…

A: Un amortized bond discount ,7/1/ Year 1   Bond discount amortization ,7/1/ Year 1 to  6/30/Year3:…

Q: Aggies Inc. issued bonds with a $550,000 face value, 10% interest rate, and a 4-year term on July 1,…

A: Bonds may sometime issue at premium and the amount of premium is amortized over the term of bonds.…

Q: Determine the present value of the bonds at issuance.

A: Bond valuation is the process of finding the fair value of the bond. It means to find the present…

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest…

A: Bonds are the highly secured debt instruments for which the bondholders are paid in consideration to…

Q: What amount of interest expense will be recorded in the December 31, 2021, annual income statement?

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

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest…

A: The question is based on the concept of the issue of securities. As per Bartleby guidelines we are…

Q: Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2019, that pay interest…

A: Face value of bond = $ 1,900,000                             Issue price of bond = $ 1,641,812…

Q: On January​ 1, 2018​,  Lane Unlimited issues 15​%, 10​-year bonds payable with a face value of…

A: 1) Premium on bonds payable = 1800 bonds * $5 = $9,000 It has to be amortised over the life of bonds…

Q: On January

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…

Q: Ruby Corp. is authorized to issue P 5,000,000 of 5- year bonds dated June 30,2018 with a stated…

A: This question is based on the fair valuation/measurement of financial liabilities. Here Present…

Q: On January 1, 2015, a company issues 5-year bonds with a stated interest rate of 6% and records the…

A: Interest payable on January 1 = Face value of bonds x rate of interest x 6/12 = $500000 x 6% x 6/12…

Q: On November 1, 2015, Davis Company issued a $30,000, 10-year, 7% bonds for $29,100. Interest is…

A: Total discount on bonds = Face value of bonds - issue value of bonds =  $30,000 - $29,100 = $900

Q: On January 1, 2016, Mary Co. issued its 10% bonds in the face amount of P 1,500,000 which mature on…

A: A bond is a fixed-income investment vehicle that represents an investor's obligation to a borrower…

Q: On Jan. 1, 2018, UMPI, Inc. issued $600,000, of 10% bonds, due in 5 years. The bonds pay interest…

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

Q: On January 1, 2017, Carter Sales issued $28,000 in bonds for $15,700. These are six-year bonds with…

A: The following entry would have been recorded by Carter on January 1, 2017.

Q: On January 1, 2018, Parker Company issued bonds with a face value of $63,000, a stated rate of…

A: A bond is a fixed pay instrument issued to represent to an advance made by a financial specialist to…

Q: On December 31, 2018, Blue Devil Inc. issued $600,000 of 15-year, ten percent bonds payable for…

A: Bond financing is an instrument for borrowing the funds. The borrower has to pay a fix amount of…

Q: On January​ 1, 2024​, Aaron Unlimited issues 10​%, 20​-year bonds payable with a face value of…

A: Amount received on issue of bonds = Face value of bonds x Selling price of bonds / 100 = $180,000 x…

Q: On July 1, 2015, ARC Industries Corporation issued for cash $500,000 of 20%, 10 year bonds with…

A: Given,   July 1, 2015    20% Bond issued = $500000 Interest payable semi-annually @ January 1 &…

Q: On January 1, 2018, Educators Credit Union issued 7%, 20-year bonds payable with a face value of…

A: Journal entry is a record of financial transactions in the books of accounts of a business. It…

Q: A company issues 8%, two-year bonds on December 31, 2018, with a par value of $10,000 and semiannual…

A: Discount on Bond = par Value - Issue price                              = $10,000 -$9,600…

Q: On October 31, 2021, Flowing Wind Company issued a $3,500,000, 10-year bond at 7% when the market…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: On January 1, 2018, loren inc. issued $2,000,000, 9%, 5-year bonds dated January 1, 2018, at…

A: Journal Entry - It is record of every business transaction in day to day life for a particular…

Q: [The following information applies to the questions displayed below.] Hillside issues $4,000,000 of…

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