On May 1, 2020, Judice Company issued 400 $1,000 bonds at 104. Each bond was issued with two detachable stock warrants. Shortly after issuance, the bonds were selling at 106, and the fair value of the warrants was $40 each.   Prepare the entry to record the issuance of the bonds and warrants.

Q: On July 1, 2020, Roberts Corporation issued $3,000,000 of 9% bonds payable in 20 years. The bonds…

A:

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 May 1, 2020, Friendly Company issued 2,000 $1,000 bonds at 102. Each bond was issued with one…

A: Bonds are the promise made between two or more persons legally. Bonds are issued by the companies…

Q: On May 1, 2020, Forest Company issued 3,000 $1,000 bonds at 102. Each bond was issued with one…

A: Market Value of Warrants = No. of bonds x   fair value = 3,000 x $30 = $90,000 Market Value of Bonds…

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

A: Bonds Payable: Bonds payable are recorded when a company issues bonds to generate cash. Cash…

Q: On January 1, 2018, Methodical Manufacturing issued 100 bonds, each with a face value of $1,000, a…

A: The bonds are issued at premium when the market interest is lower than the stated 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 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, 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 July 1, 2020, Tealight Company issued 2,000 $ 1,000 bonds at 103. Each bond was issued with one…

A: The process of recording financial activity for the first time in the books of accounts is known as…

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 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: Temple Company has $500,000 of 9% bonds that pay interest on June 30 and December 31 and have an…

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

Q: On March 1, 2021, FLAXSEED Inc. issued at 97, including accrued interest, 2,550 of its 10%, ₱1,000…

A: If the interest accrued from the previous due date of interest is included in the quoted price, then…

Q: On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds…

A: Requirement 1:   Compute the amount of liability.

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 January 1, 2020, Fergus Corporation issued $800,000, 10%, 5-year bonds. The bond interest is…

A: SOLUTION INTEREST EXPENSE TO BE RECOGNIZED FOR 6 MONTHS = BONDS BOOK VALUE AT THE BEGINNING OF THE…

Q: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10% bonds…

A: The carrying value of a bond is the par value or face value of that bond plus any unamortized…

Q: On July 1, 2019, Salem Corporation issued $3 million of 12% bonds payable in 10 years. The bonds pay…

A:

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

A: Requirement 1:

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 January 1, 2018, Watch Works Incorporated (wWI) issued $77,000 par value, 8%, four-year bonds…

A: Bond valuation refers to a method which is used to compute the current value or present value (PV)…

Q: On January 1, 2019, Berlin Corporation issued $500,000 of 11.5% bonds due December 31, 2025, at 102.…

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

Q: On January 1, 2021, Nicks Company reported 10% bonds payable with carrying amount of P5,700,000. The…

A: The financial instruments can be recorded at fair or amortized value depending upon the accounting…

Q: On January 1, 2020, Stellar Corporation issued $590,000 of 9% bonds, due in 8 years. The bonds were…

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

Q: On April 1, 2021, ORANGE Inc. issued at 97 including accrued interest, 2,000 of its 10%,₱1,000…

A: Accrued interest on bonds = face value of bonds x rate of interest x no. of months/12 =…

Q: n May 1, 2020, Friendly Company issued 2,000 $1,000 bonds at 102. Each bond was issued with one…

A: Journal entry is a primary entry that records the financial transactions initially.

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: On January 1, 2018, Davie Services issued $20,000 of 8% bonds that mature in five years. They were…

A: Premium on issue of bonds = Isue value - face value of bonds = $20,750 - $20,000 = $750

Q: The Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds were dated…

A: Solution:- Introduction:- Journal entry is the first step in the accounting process. It is used to…

Q: The Gorman Group issued $810,000 of 11% bonds on June 30, 2021, for $879,498. The bonds were dated…

A: The journal entries are prepared to keep the record of day to day transactions of the business.  The…

Q: On January 1, 2020, Flounder Corporation issued $540,000 of 7% bonds, due in 10 years. The bonds…

A: Solution: Journal Entries - JWS Corporation Date Particulars Debit Credit 1-Jan-20 Cash Dr…

Q: The Crane Company issued $470,000 of 8% bonds on January 1, 2017. The bonds are due January 1, 2027,…

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

Q: On January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

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

Q: On July 1, 2020, Kwek-kwek Company issued 600 of its 10%, P1,000 bonds at 99 plus accrued interest.…

A: The bonds are issued at premium or discount depending on the market rate of interest of bonds.

Q: Prepare the journal entry to record the interest payment and the amortization for 2022

A: Given that: On January 1, 2020, Swifty Company sold 11% bonds having a maturity value of $700,000…

Q: Hawar Company issued $400,000 of bonds on January 1, 2020. Required: Prepare the journal entry to…

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

Q: On August 1, 2021, Space Company issued at 97 plus accrued interest, 2,500 of its 12%, P1,000 bonds.…

A: Formula: Cash received on the issue of bonds= Face value of bond x Issue rate of bonds.

Q: On April 1, 2016, Lanz Company issued at 99 plus accrued interest, 200 of its 8%, P 1,000 bonds. The…

A: Bonds are the type of debt security issued by the company having a fixed percentage of coupon rate…

Q: Kingbird, Inc. issued $430,000 of 5-year, 7% bonds at 97 on January 1, 2020. The bonds pay interest…

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

Q: On January 1, 2017, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

A:

Q: On October 1, 2021, ABC Corporation issued, at 99 excluding accrued interest, 3,000 of its 8% 1,000…

A: Bond: It is a form of long-term debt issued by company . It is a contract to pay the bondholders…

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 October 1, 2010, Tender Corporation issued Rs. 500,000 of 9 percent bonds at 96. The bonds are…

A: Given that: Face value of bonds = $500,000 Issue price of bonds = 500,000 * 96% = $480,000 Discount…

Q: On January 1, 2016, Cooper Corporation issued $800,000 of 12.5% bonds due January 1, 2023, at 102.…

A: Bond might be issued at the discount or premium with the attached warrant to it and warrant holder…

Q: The Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds were dated…

A: 1.

Q: Nasreen Company issues $2,000,000, 10-year, 8% bonds at 97, with interest payable each January 1.…

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

Q: On July 1, 2021, GIl Inc. received 103,288 for each 100,000 face value bonds, 12% bonds, a price…

A: Interest payable on December 31, 2021 = (Face value per bonds x no. of bonds) x rate of interest x…

Q: On January 1, 2020, Whispering Corporation redeemed $510,000 of bonds at 98. At the time of…

A: When the bonds are issued at premium, the premium on bonds amortised needs to be carried forward and…