Period Cash Paid Interest Expense Interest in Carrying Value Carrying Value Issue Date       $85,940 1 $4,100 $ 3,438 $662 85,278 2 4,100 3,411 689 84,589 1. & 2. Record the bond issue assuming the face value of bonds payable is $79,000 and first interest payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)   Record the bond issue.     Event General Journal Debit Credit 1                                               Record the first interest payment.     Event General Journal Debit Credit 2

Q: Carla Vista Co. issues $345,000, 20-year, 9% bonds at 103. Prepare the journal entry to record the…

A: Note​ payable: Note​ payable is an instrument through which borrower obtains money from lender and…

Q: Bramble Corp. issued 3,400 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: Given:

Q: 1.Prepare the journal entry on January 1, 2021, to record interest paid.

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

Q: Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal…

A: Given that, the corporation issued 10 bonds. value of bonds issued = $1000 issue price of bond = $98…

Q: Wildhorse Corporation issued 4,100, 6%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest…

A: Total cash received from Bond issue = 4100*$1000 = $4,100,000

Q: Brief Exercise 10-09 Oriole Company issues $325,000, 20-year, 7% bonds at 103. Prepare the journal…

A: Calculate the amount of cash received.

Q: Issuing Bónds at a Premium On the first day of the fiscal year, a company issues a $5,300,000, 8%,…

A: Bonds are issued by companies for collecting economic resources for working. They pay a certain…

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,500,000,…

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Q: Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton-Bose on…

A: Company will issue bond at discount i..e market rate is more than the quoted rate in the bond.

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A: 1 Market rate is equal to stated interest rate, so bonds will be issued at par   Cash a/c…

Q: Discount Amortization On the first day of the fiscal year, a company issues a $6,700,000, 12%,…

A: Step 1: Calculate the amount of discount provided on issuance of bonds:

Q: Issuance of Long-Term Debt M. Nickles Company issued $1,500,000 of bonds for $1,487,200. Interest is…

A: 1. Record journal entry for issuance of bonds as shown below:

Q: Journalize the entries to record the following selected transactions: 20Y5 May 1 Issued the bonds…

A: Journal entries refers to the recording of financial transaction in the books of the company during…

Q: Korean Corporation issued $2 million, 10-year, 6% bonds on January 1, 2021.     1) Prepare the entry…

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

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A: Present value: This is the amount of future value reduced or discounted at a rate of interest till…

Q: Bramble Corp. issued 1,200 9%, 8-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Riverbed Corp issues 940, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry…

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A: s.no  account title and explanation  debit   credit  1 Cash a/c   $49331   Discount on Bonds…

Q: som Company issues $390,000, 20-year, 8% bonds at 101. Prepare the journal entry to record the sale…

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Q: QUESTION 7 On the first day of the fiscal year, a company issues a $960,000, 8%, 5-year bond that…

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Q: Redemption of Bonds Payable A $950,000 bond issue on which there is an unamortized premium of…

A: Bonds payable $950,000 Unamortized premium $78,000 Cash paid $802,000

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A: Solution: Face value of bond = $330,000 Semiannual interest payment = $16,500

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A: Calculate the Gain on redemption of bonds:

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

Q: Issuance of Long-Term Debt Anne Corp. issued $366,000, 5% bonds. Required: Provide the necessary…

A:

Q: Rush issued callable bonds on January 1. 2021. Rush's accountant has projected the following…

A: Calculation of annual Stated interest rate on the bonds ::: Carrying Amount at the end…

Q: Crane Company issued $1,730,000 of bonds on January 1, 2022. (a) Prepare the journal entry to record…

A: When bonds are redeemed at par, we  will Credit Cash Account.

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

Q: Journalize the redemption of the bonds

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Q: On the first day of the fiscal year, a company issues a $4,500,000, 10%, 9-year bond that pays…

A: Here in this question, we are required make entry for bond issued at discount. Bond is knowing to be…

Q: Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected…

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Q: Redemption of Bonds Payable A $940,000 bond issue on which there is an unamortized premium of…

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Q: Journalize the bond issuance. If an amount box does not require an entry,

A: Pass necessary journal.

Q: Required 1. Joumaloe the entry to record the amount of cash proceeds from the assuance of he bonds.…

A: Step 1 Journal is the part of book keeping.

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A: Cash flow statement: It is a statement which reports the cash inflows and outflows of a business…

Q: On January 1, 2022, Ivanhoe Company issued $425,000, 12%, 10-year bonds at face value. Interest is…

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

Q: Company purch Gone by the mon Required: a. Journalize the entry for the bond purchase. b. Journalize…

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Q: Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the…

A: Amortization of Bond's :— It Means that Principle Value of Amount is paid regularly along with the…

Q: Flounder Corp. issues 850, 10-year, 8%, $1000 bonds dated January 1, 2020, at 97. The journal entry…

A: A bond is a debt security, where an investor lends money to a company.

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A: Premium on bonds payable = Cash received - bonds face value             = 5,258,948 - 4,900,000…

Q: The following information relates to the Davensmith Company: Interest payable, beginning of period…

A: For calculating interest paid, we need to use below formula. Interest paid = Interest expense…

Q: On July 1,

A: Effective Interest Rate: The fixed-rate applied to carry value of the bonds to calculate the…