On January 1, the first day of the fiscal year, a company issues a $250,000, 10%, 10-year bond that pays semiannual interest of $12,500 ($250,000 × 10% × ½ year), receiving cash of $250,000. (a)  Journalize the entry to record the issuance of the bonds.     fill in the blank 11be4501efcd079_2         fill in the blank 11be4501efcd079_4 (b)  Journalize the entry to record the first interest payment on June 30.     fill in the blank ae99bfffefd2073_2         fill in the blank ae99bfffefd2073_4 (c)  Journalize the entry to record the payment of the principal on the maturity date.     fill in the blank ec463dfa2fbd050_2         fill in the blank ec463dfa2fbd050_4

Q: On the first day of the fiscal year, a company issues a $3,500,000, 6%, five-year bond that pays…

A: Bonds are a source of funds for a business as a liability. It is a form of loan where charges are…

Q: On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5-year bond that pays…

A: When an event occurs in the business and it can be measured and expressed in terms of money, it…

Q: On April 1, Year 1, Greenway Corporation issues $20 million of 10%, 20-year bonds payable at par.…

A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder.…

Q: On the first day of the fiscal year, a company issues a $415,000, 7%, 10-year bond that pays…

A: Premium on Bond Payable = $435,800 - $415,000 = $20,800   Interest is paid semiannually for 10…

Q: On the first day of the fiscal year, a company issues a $950,000, 10%, 5-year bond that pays…

A: Journal entries refer to recording/ classifying the business transactions into books of accounts…

Q: On the first day of the fiscal year, a company issues an $4,900,000, 6%, 4-year bond that pays…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: On the first day of the fiscal year, a company issues a $2,800,000, 8%, 8-year bond that pays…

A: The bonds are the financial instruments used to raise the money from the investors.

Q: On the first day of the fiscal year, a company issues a $5,100,000, 12%, 6-year bond that pays…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: On the first day of the fiscal year, a company issues a $3,500,000, 6%, five-year bond that pays…

A: Bonds are a form of loan or debt issued by the company, on which it has to make regular interest…

Q: The Freeman Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1 at 96. The journal…

A: Issue value of bonds = Face value of bonds x Issue price / 100 = (2000 x $1000) x 96/100 =…

Q: On the first day of the fiscal year, a company issues an $4,700,000, 10%, 9-year bond that pays…

A: Premium on bonds payable = Issue price - Face value of bonds

Q: On 1 April, year 1, Happy Corporation issues $50 million of 10%, 30-year bonds payable at par.…

A: Journal entry to record first cash payment to bondholders:

Q: On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays…

A: When the bonds will issue we receive cash , and we have to pay interest through out its duration…

Q: On the first day of the fiscal year, a company issues a $4,600,000, 10%, 8-year bond that pays…

A: Premium on bonds payable = Issue price - face value of bonds = 5434494-4600000 = $834,494

Q: On January 1, the first day of the fiscal year, a company issues an $8,600,000, 11%, five-year bond…

A: I am answering the first question out of multiple questions submitted by the student as per bartleby…

Q: On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays…

A: Bonds payable are financial instruments. It representing a company’s commitment to pay back a…

Q: he first day of the fiscal year, a company issues a $3,500,000, 5%, 10-year bond that pays…

A: When the bonds are issued at par, the cash received is equal to the bond payable amount. When…

Q: On the first day of the fiscal year, a company issues a $888,000, 6%, 10-year bond that pays…

A:

Q: Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, 20Y1, Smiley…

A: Solution to a. & b. are as follows:

Q: ay of the fiscal year, a company issues an $800,000, 6%, 5-year bond that pays semiannual interest…

A: Solution: Semiannual interest amount = $800,000*6%*6/12 = $24,000 Discount amortization = ($800,000…

Q: On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $750,000, 6%, 10-year…

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

Q: On January 1, the first day of the fiscal year, a company issues a $550,000, 8%, 10-year bond that…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: On the first day of the current fiscal year, $200,000 of 10-year, 7% bonds, with interest payable…

A: Bonds   Bond is a long-term financial instrument issued by a company for which the company pays…

Q: On the first day of the fiscal year, a company issues a $8,800,000, 11%, 7-year bond that pays…

A: Bonds Payable: Bonds payable are referred to long-term debts of the business, issued to various…

Q: On the first day of the fiscal year, a company issues a $8,400,000, 12%, 8-year bond that pays…

A: Premium on bonds Payable = Issue price - Face value of bonds = $8,839,411 - $8,400,000 = $439,411

Q: On the first day of the fiscal year, a company issues a $1,000,000, 10%, 5-year bond that pays…

A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder.…

Q: On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at pa…

A: Interest amount needs to be properly recorded in the books of the company as and when it was accrued…

Q: On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays…

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

Q: On the first day of the fiscal year, a company issues a $1,100,000, 6%, 9-year bond that pays…

A: When a bond issued for a amount more than its face value then the excess amount received would be…

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

A: Introduction Bonds issued with discount: Bonds are financial instrument which represents company’s…

Q: (a)  Journalize the entry to record the issuance of the bonds. If an amount box does not require an…

A: Journal entry :- Journal entry is the initial form of recording a transaction in any business.   The…

Q: On the first day of the fiscal year, a company issues a $957,000, 7%, 10-year bond that pays…

A: Working note:   Premium on issue $1,004,900 – 957,000 $47,900 Semi-annual period 10×2…

Q: On January 1, the first day of the fiscal year, a company issues a $700,000, 7%, 10-year bond that…

A: Formula: Interest amount = Bond amount x Time period x Interest rate

Q: On the first day of the fiscal year, a company issues a $1,600,000, 6%, 6-year bond that pays…

A: SOLUTION PREMIUM ON BONDS- WHEN BONDS PAYABLE ARE ISSUED FOR AN AMOUNT GREATER THAN THEIR FACE  AND…

Q: On the first day of the fiscal year, a company issues a $900,000, 9%, 5-year bond that pays…

A: Given, Face value = $900,000 Issue price = $884,176

Q: On the first day of the fiscal year, a company issues a $8,300,000, 6%, 8-year bond that pays…

A: Cash interest  = $8,300,000 x 6% x 1/2 = $249,000

Q: On the first day of the fiscal year, a company issues a $1,900,000, 10%, 9-year bond that pays…

A: A bond is referred to as a financial instrument that a company issues to meet its financial…

Q: On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays…

A: Given, Face value of bonds = $500,000 Issue price of bonds = $530,000

Q: Instructions On January 1, the first day of the fiscal year, a company issues a S300.000, 9%,…

A: Bonds payable = $ 300000 Semi - annual Interest  = 300000 * 9% *1/2 = $ 13500

Q: On the first day of the fiscal year, a company issues an $440,000, 10%, five-year bond that pays…

A: Interest expense is a non-operating expense shown on the income statement. It represents interest…

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 the first day of the fiscal year, a company issues a $7,200,000, 10%, 7-year bond that pays…

A: Given the face value of bond = $7,200,000 Life of bond = 7 years Semi annual interest = 360,000 Cash…

Q: On the first day of the fiscal year, a company issues a $584,000, 11%, 10-year bond that pays…

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

Q: On July 1, Year 1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market…

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

Q: On the first day of the fiscal year, a company issues a $980,000, 10%, 5-year bond that pays…

A: Solution: Issuance of bond payable will include discount on bond payable of = face value - issue…

Q: On the first day of the fiscal year, a company issues a $7,200,000, 10%, 7-year bond that pays…

A: Premium on Bonds Payable=Cash received-Bond Payable=$7,568,023-$7,200,000=$368,023

Q: On the first day the fiscal year, a company issue a $437,000, 7%, 10years bond that pays semiannual…

A: Bonds are a form of debt issued by the company. These are part of long term debt of the business.…