On January 1, the first day of the fiscal year, a company issues a $550,000, 8%, 10-year bond that pays semiannual interest of $22,000 ($550,000 × 8% × ½ year), receiving cash of $550,000. (a)  Journalize the entry to record the issuance of the bonds.     fill in the blank 8dfaac02b05b066_2         fill in the blank 8dfaac02b05b066_4 (b)  Journalize the entry to record the first interest payment on June 30.     fill in the blank efa8e4f6603d061_2         fill in the blank efa8e4f6603d061_4 (c)  Journalize the entry to record the payment of the principal on the maturity date.     fill in the blank 71e811068fc505d_2         fill in the blank 71e811068fc505d_4

Q: On January 1, the first day of the fiscal year, a company issues a $650,000, 10%, 10-year bond that…

A: Bonds Payable: Bonds payable are generated when a company issues bonds to generate cash. As a bond…

Q: On the first day of the fiscal year, a company issues a $4,400,000, 7%, 8-year bond that pays…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders 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 the first day of the fiscal year, a company issues a $2,500,000, 12%, 7-year bond that pays…

A: >Bonds Payable are the source of finance for the companies. >The bondholders are entitle for a…

Q: On the first day of the fiscal year, a company issues a $2,500,000, 12%, 7-year bond that pays…

A: Discount on bonds payable = face value of bonds - Issue price = $2500000-2387327 = $112673

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 $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 January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $300,000, 9%, 10-year…

A:

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 $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 January 1, the first day of the fiscal year, a company issues a $5,000,000, 6%, 10-year bond that…

A: Requirement a:Prepare the journal entry to record issuance of the bonds.

Q: On January 1, the first day of the fiscal year, a company issues a $250,000, 10%, 10-year bond that…

A: SOLUTION- BOND-  A Bond is a fixed income instrument  that represent a loan  made by the investor to…

Q: On the first day of the fiscal year, a company issues an $2,250,000, 12%, five-year bond that pays…

A: Premium on issue of bonds = Cash received - Par value of bonds = $2,379,360 - $2,250,000 = $129,360

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

A: Under straight line amortisation, the bond discount is amortised equally in each year.

Q: On the first day of the fiscal year, a company issues a $8,400,000, 10%, 8-year bond that pays…

A: Bonds are kind of loan on which interest is to be paid and matured after specified period of time.

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

A:

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

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

Q: On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond that pays…

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

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 the first day of the fiscal year, a company issues an $2,750,000, 8%, five-year bond that pays…

A: Interest is calculated as a percentage of the loan (or deposit) balance, which is paid to the lender…

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 January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $850,000, 8%, 10-year…

A: Journal is the book of original entry in which all the financial transactions of the business are…

Q: On the first day of the fiscal year, a company issues a $6,800,000, 8%, 10-year bond that pays…

A: Bonds are the instruments that are being issued for the purpose of raising finance. These are the…

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 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: 5) Compute the price of $28,279,368 received for the bonds by using the present value tables. (Round…

A: Summary of the information provided : Date of issue : July 1, 20Y1, Face value of the bond :…

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 $8,400,000, 10%, 8-year bond that pays…

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

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 $5,000,000, 10%, 4-year bond that pays…

A: Premium on Bond issue = Issue price of bonds - Face value of bonds = $5,336,638 - $5,000,000 =…

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 $500,000, 8%, 10-year bond that pays…

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

Q: On the first day of the fiscal year, a company issues a $7,300,000, 8%, 10-year bond that pays…

A: Date Account titles and Explanation Debit Credit June 30 Interest expense ($292,000+$65,428)…

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 a $3,500,000, 6%, five-year bond that pays…

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

Q: On the first day of the fiscal year, a company issues an $609,000, 10%, five-year bond that pays…

A: Record the first interest payment and amortization on Discount on payable

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 January 1, the first day of the fiscal year, a company issues a $1,800,000, 6%, five-year bond…

A: Bonds are a form of loan or debt that is being issued by the business and on which regular interest…

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

A: Introduction: Journals: Recording of a business transactions in a chronological order. Firs step in…

Q: The first day of the fiscal year, a company issues a $350,000, 6%, 10-year bond that pays semiannual…

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