On July 1, 2019, Waterway Industries issued 11% bonds in the face amount of $12500000, which mature on July 1, 2025. The bonds were issued for $11986074 to yield 12%, resulting in a bond discount of $513926. Waterway uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2021, Waterway's unamortized bond discount should be (Round intermediate calculations to 0 decimal places, e.g. 9,020,890.)     $409269.   $379669.   $367269.   $397269.

Q: On January 1, 2019, Charlie Company. issued its 10 percent bonds in the face amount of P1,500,000.…

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

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

A: Par value of bonds =$200000Issue price of bonds =$191000Discount on issuance of bonds…

Q: On January 2, 2021, Santos Company invested in a 4-year, 10% bond with face value of P6,000,000 in…

A: Financial statements refer to the written form of a statement of a company that depicts its…

Q: On July 1, 2019, Honda Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to…

A: Semiannual interest payment = face value of bonds x rate of interest x no. of months/12 = P5,000,000…

Q: On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable…

A: Bonds: Bonds are a kind of interest bearing notes payable, usually issued by companies, universities…

Q: On January 1,2019, ABC Corporation issued a 5-year, 12%, 1,000 of the P 5,000 face value bonds with…

A: market value of bond= present value of future payments@YTM

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: Bond Issue Bond is an instrument which was issued by the federal authority which was used by the…

Q: On January 1, 2020, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a…

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

Q: On January 1, 2021, White Water issues $440,000 of 7% bonds, due in 10 years, with interest payable…

A: Solution: Date Particulars Debit Credit 01-Jan-21 Cash $440,000           To bonds payable…

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: Bond Issue A bond is an instrument that was issued by the federal authority which was used by the…

Q: On January 02, 2020, ABC Company issued its 9% bonds in the face amount of P4,000,000 which mature…

A: Total interest expense for the year = the carrying amount of the bonds × the effective rate (yield)…

Q: On January 1, 2020, Kingbird, Inc. purchased 11% bonds having a maturity value of $541,000 for…

A: The following journal entries are passed to show the investment in bonds.

Q: On January 1, 2019, Canglon, Inc., issues 10%, 5-year bonds with a face value of $150,000 when the…

A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…

Q: On January 1, 2019, the JSW Corporation issued 10% bonds with a face value of $100,000. The bonds…

A: Answer - Working Note : The computation of the interest expense is shown below:   The bond interest…

Q: On March 31, 2021, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year…

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

Q: On January 1, 2021, Loop Raceway issued 590 bonds, each with a face value of $1,000, a stated…

A: An amortization bond is one in which the principal (face value) on the loan is paid regularly,…

Q: On January 02, 2020, ABC Company issued its 9% bonds in the face amount of P4,000,000 which mature…

A: solution given Face value 4000000 Issue price 3756000 Market rate of interest 10%…

Q: on april 1, 2019 franville corporation issued, at 98 plus accrued interest, 400 of its 105, $1000…

A: Number of bonds = 400 Face value of bonds = $1,000 The bonds issued at a 98% discount  Interest on…

Q: (a) Prepare the journal entry at the date of the bond issuance. (Round answer to 0 decimal places,…

A: Introduction: The effective interest technique is a standard for amortizing or discounting bonds.…

Q: On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with…

A: Answer: The carrying value of a bond refers to the net amount between the bond’s face value plus any…

Q: On January 1, 2019, Gates Corporation issued $100,000 of 5-year bonds due December 31, 2023, for…

A: A bond is type of legal paper or in accounting terms investment securities wherein an investor lends…

Q: On January 1,2019, ABC Corporation issued a 5-year, 12%, 1,000 of the P 5,000 face value bonds with…

A: Carrying value of the bonds as of December 31,2020 = Present value of principal + Present value of…

Q: On January 1, 2019, Gates Corporation issued $100,000 of 5-year bonds due December 31, 2023, for…

A: A bond is type of legal paper or in accounting terms investment securities wherein an investor lends…

Q: On January 1, 2019, SB Company issued its 10% bonds in the face amount of P10,000,000 that mature on…

A: Solution: Interest expense on July 1 = P9,160,000*12%*6/12 = P549,600 Semiannual interest paid =…

Q: On January 1, 2019, Langka Inc. issued 9% bonds in the face amount of P5,000,000 which mature on…

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

Q: On January 1, 2021, Concord Corporation issued its 10% bonds in the face amount of $8070000, which…

A: Step 1: Compute the amount of interest expense: Interest expense=$9152978*8%=$732238 Step 2: Compute…

Q: On January 1, 2020, Laudon Corporation issued $5,000,000 of 10% bonds at 102 due December 31, 2029.…

A: The bond issued at 102 means the bond has issued at premium & issue price is 102% of face value.…

Q: On January 1, 2021, Borg Company issued 4,000 of its 8% P2,000 face value bonds at 97 including…

A: The bonds are issued at discount when the coupon rate of bonds is lower than the stated rate of…

Q: On December 31, 2019, Wintergreen, Inc, issued $150,000 of 7 percent, 10-year bonds at a price of…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: On July 31, 2018, Snowday Corporation issued $100,000, 5%, 20-year bonds for $88,443 when the market…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: Bond is a source of debt financing for companies. It carries a fixed rate of interest which the…

Q: On January 1, 2021, Nebraska Company issued a 3-year bond with face value of P1,500,000 and a 9%…

A: First we need to calculate the fair value of the bond. = Coupon x PVAF(r,n) + FV x PVF(r,n) Where,…

Q: On July 1, 2019, Matalik Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to…

A: Since effective interest rate method is being used.  As per effective interest rate method the…

Q: esto Corporation has authorized to issue$4,500,000 of its 9%, 5-year bonds On January 1, 2019, when…

A: 1) Journal Entry to record issue of Bonds. Date Particulars Debit Credit Jan 1 - 2019 Cash…

Q: Using effective interest method, what amount of the bond discount should be amortized for the six…

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

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: "Since you have asked multiple question we will solve the first three sub part question for you.  If…

Q: On January 1. 2020, Swifty Company sold 12% bonds having a maturity vallue of $450.000 for $484,117,…

A: Solution: When stated interest rate is higher than market interest rate than bonds are issued at…

Q: n January 1, 2019, Mitsubishi Company issued its 9% P9,000,000 face value bonds, which matures on…

A: Solution: Discount on bond payable, Jan 1 , 2019 = face value - issue price  = 9000000 - 8451000 =…

Q: On January 1, 2019, North Company issued $2,000,000 of bonds with a stated rate of 10% that are due…

A:

Q: On January 1, 2020, Riverbed Company sold 12% bonds having a maturity value of $850,000 for…

A: Formula: Amortization of bond premium = Interest payment - Interest expense where, Interest payment…

Q: On January 1, 2019, Langka Inc. issued 9% bonds in the face amount of P5,000,000 which mature on…

A: Solution: Face value of bond = P5,000,000 Issue price of bond = P4,695,000

Q: On January 2, 2020, Lucban Company issued 9% bonds in the amount of P10,000,000 which mature on…

A: Solution : Let us first note down the given information : Coupon rate of bond      =9% Market…

Q: On January 1, 2019, Bay Company issues bonds with a face value of $850,000 that pay 9% interest…

A:

Q: on january 1, 2019, bay company issues bonds with a face value of $850,000 that pay 9% interest…

A:

Q: On July 1, 2021, Spear Co. issued 1,000 of its 10%, P1,000 bonds at 99 plus accrued interest. The…

A: Amount received from the issuance of the bonds is calculated by adding the accrued interest on the…

Q: On July 1, 2019, Pen Co. issued 4,000 of its 8%, P1,000 face value bonds payable for P3,504,000. The…

A: Introduction: Bonds discount: When bonds are issued at less than its face value called bonds…

Q: ABC Corporation is authorized to issue P5,000,000 of 6%, 10-year bonds dated July 1, 2020, with…

A: CASH RECEIVED  P5,150,000 ACCRUED INTEREST FROM JUNE TO NOVEMBER  (5,000,000 X 6% X 4/12)…

Q: On January 1, 2019, Electro Inc. issued $740,000 of 7.5%, four-year bonds that pay interest…

A: Journal entry is record of a transaction in accounting system

Q: On January 1, 2020, Aumont Company sold 12% bonds having a maturity value of $500,000 for…

A: a. Prepare the journal entry at the date of the bond issuance.