On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 enter an account title for the journal entry on October 1, 2021 enter a debit amount enter a credit amount   enter an account title for the journal entry on October 1, 2021

Q: Chowan Corporation issued $100,000 of 10% bonds dated January 1, 2019, for $96,832.72 on January 1,…

A: Journal entry: It is prepared to record the financial and non-financial transactions of the business…

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.…

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

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A: Bond interest: Bond interest is the interest payment that to be made to bond Holder. Generally a…

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

Q: Homwork question 5- chapter 9

A: Calculate the amount of interest expense:

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

Q: Sheffield Company issued $648,000 of 10%, 20-year bonds on January 1, 2020, at 104. Interest is…

A: Proceeds from issue of bonds = Face value of bonds x issue price /100 = $648000*104/100 = $673920

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

A: Hi since you have posted a question with multiple subparts we are solving the 1st 3 subparts for…

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 October 1, 2021, Cullumber Company issued $520,000, 6%, 10-year bonds at face value. The bonds…

A: Bonds are issued by the company to increase the funds of the company. When a company issues bonds,…

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A: Bonds are generally long-term debt. The company issue bonds for investment purpose and paid interest…

Q: On January 1, 2019 Sandhill Corporation issued $550,000, 7%, 5-year bonds at face value. Interest is…

A: Introduction: Journal entries serve as the primary building blocks for answering these and other…

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, 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: Bryan Company issued $780,000 of 8% face value bonds on January 1, 2019, for $763,800. The bonds are…

A:

Q: On January 1, 2019, Western Manufacturing Corporation issued $3,000,000, 10%, 5-year bonds dated…

A: Bonds are the secured securities which constitute into borrowed funds. They are purchased in…

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A: If the bonds are issued at discount or at premium, the discount or premium on the bonds payable is…

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A: bonds are considered as a debt instrument that is issued by the company in order to raise the money…

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A: A. Prepare all necessary journal entries for the calendar year 2021. Date Particulars Post Ref…

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A:

Q: On January 1, 2021, a company issued 10-year, $3,000,000, 6% bonds with semiannual interest…

A: a.

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

A: Since we answer only upto three sub-parts, we shall answer the first three. Please resubmit a new…

Q: Sheffield Company issued $648,000 of 10%, 20-year bonds on January 1, 2020, at 104. Interest is…

A: Introduction: On January 1, 2020, Sheffield Company issued $648,000 of 10 percent, 20-year bonds at…

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 1, 2021, Solo Inc. issued 1,000 of its 8%, $1,000 bonds at 98. Interest is payable…

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

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A: Bonds- These are the debts of a company on which interest is payable after a fixed interval i.e.…

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A: To begin, preserving detailed records of your transactions helps to organize the data in your…

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

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

Q: On October 1, 2019, Ball Company issued 9% bonds dated October 1, 2019, with a face amount of…

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

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Q: *Please complete parts E and F***** On May 1, 2022, Cucumber Corporation issued $860,000, 12%,…

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

Q: On June 1, 2010, Mordica Corp. issued $2,000,000, 9%, 5-year bonds at face value. The bonds were…

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A: Please find below the entries -

Q: Chowan Corporation issued $115,000 of 9% bonds dated January 1, 2019, for $111,283.65 on January 1,…

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

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

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A: Bonds are debt instruments raised to get fund with fixed rate of interest.  Here interest rate is 8℅…

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

A:

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: On July 31, 2018, Hummbug Corporation issued $100,000, 5%, 20-year bonds for $113,678 when the…

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