Redemption of Bonds Payable A $880,000 bond issue on which there is an unamortized premium of $66,000 is redeemed for $805,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

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: On June 30, Jamison Company issued $2,500,000 of 10-year, 8% bonds, dated June 30, for $2,580,000.…

A: Payment of interest on December 31 = Face value of bonds x rate of interest x no. of months /12…

Q: Blossom Inc. issues $210,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000.…

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

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: Present entries to record the selected transactions described below: Required: a. Issued $2,750,000…

A: The journal entries are as follows. (a) Cash A/C dr.                $2667,500 Discount A/C dr.…

Q: A $515,000 bond issue on which there is an unamortized discount of $36,000 is redeemed for $463,000.…

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

Q: A $490,000 bond issue on which there is an unamortized discount of $33,000 is redeemed for $472,000.…

A: Journal Entry:   Journal entry has two effects for every transaction. The journal entry is passed by…

Q: Al-Teeb Company issued OR 40,000, 3.5%, 15-year bond payable at 104 on January 1, 2018 Required:…

A: Issue value of Bonds = Face value of bonds x issue price = 40,000 x 104/100 = 41,600

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.

Q: Crane Electric sold $6,240,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January…

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

Q: Redemption of Bonds Payable An $800,000 bond issue on which there is an unamortized premium of…

A: Redemption of bond is a process through which issuer can redeem or repurchase bonds before the time…

Q: (Entries for Redemption and Issuance of Bonds) Matt Perry, Inc. had outstanding $6,000,000 of 11%…

A: Prepare the journal entries necessary to record the issue of the new bonds and the refunding of the…

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

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: Cucumber Electric sold $3,300,00, 8%, 10-year bonds on January 1, 2022. The bonds were dated January…

A: Under straight line method, the premium or discount is amortized with equal amounts. The bonds are…

Q: A $530,000 bond issue on which there is an unamortized discount of $37,000 is redeemed for $476,000.…

A: Bonds are the securities that are issued by the business entities or government to raise funds from…

Q: On the first day of the fiscal year, a company issues a $4,200,000, 10%, five-year bond that pays…

A: Bonds are issued by the company for raising finance. It can be issued at a discount or at a premium.…

Q: Culver Corporation issued 2,800 9%, 7-year, $1,000 bonds dated January I, 2022, at face value.…

A: A journal entry is being used to record a commercial transaction in the accounting records of a…

Q: I have managed to find bonds payable and cash but I'm not sure how to find  preimium on bonds…

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: On July 1, a company issues a $1,000,000, 7%, five-year bond that pays semiannual interest of…

A: The discount on issue of bond is amortized over the life of the bond When the same amount of bond…

Q: Journalize the redemption of the bonds

A: Redemption of bond means discharging the liability of bond by paying off it in cash or cash…

Q: A $1,900,000 bond issue on which there is an unamortized premium of $101,264 is redeemed for…

A:

Q: A $540,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for $465,000.…

A: General Journal Debit Credit Bonds Payable $540,000   Discount on Bonds Payable   $35,000 Gain…

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

A: The bonds are sold in two forms: 1. At a discount 2. At premium

Q: A $515,000 bond issue on which there is an unamortized discount of $41,000 is redeemed for $473,000.…

A: Given that: Bond value = $515000 Unamortised discount = $41000 Redemption value = $473000

Q: A $940,000 bond issue on which there is an unamortized premium of $68,000 is redeemed for $761,000.…

A: Loss on redemption of bonds = Face value of bonds + Unamortized Premium on Bonds Payable - Cash paid…

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

A: In the given question, the company amortized bonds having face value of $ 940,000 and unamortized…

Q: ssuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,700,000, 9%,…

A:

Q: A Redemption of bonds payable  A $1,500,000 bond issue on which there is an unaumortized discount of…

A: All the transactions of the company that are happened during the year will be recorded first in the…

Q: An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000.…

A: Bonds are issued by the company to meet the financial requirements of the company without losing its…

Q: Redemption of Bonds Payable An $800,000 bond issue on which there is an unamortized premium of…

A: A BOND is a type of securities  issued by company. These are type of   loan that are taken. A bond…

Q: Theca Company issued $600,000, 9%, 20-year bonds on January 1, 2020, at 103. Interest is payable…

A: Journal entries are an accounting entries used by an firm to accounts its business transactions in…

Q: Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated…

A: Cash received on issue of bonds = $5,615,000*96/100 = $5,390,400 Discount on Bonds Payable = Face…

Q: Redemption of bonds payable A $1,200,000 bond issue on which there is an unamortized premium of…

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

Q: On the first day of the fiscal year, a company issues a $910,000, 9%, 5-year bond that pays…

A: Bonds are the liability of the issuing company payable after a definite period of time. Bonds when…

Q: A $920,000 bond issue on which there is an unamortized premium of $65,000 is redeemed for $821,000.…

A: Calculate the carrying amount of bonds payable:

Q: Carla Vista Corporation issued 2,800, 6%, 5-year, $1,000 bonds dated January 1, 2022, at 100.…

A: Introduction: Bonds are issued with the assistance of governments and enterprises in order to raise…

Q: A $375,000 bond issue on which there is an unamortized discount of $40,000 is redeemed for $320,000.…

A: Carrying value of the bonds = Face value of bonds - Unamortized discount = $375,000 - $40,000 =…

Q: A $545,000 bond issue on which there is an unamortized discount of $37,000 is redeemed for $472,000.…

A: Given, Face value of bonds = $545,000 Unamortized discount = $37,000 Redemption value = $472,000

Q: A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for…

A: Journalize the redemption of the bonds.

Q: On January 1, Concord Corporation issued $280,000, 6%, 10-year bonds at face value. Interest is…

A: Bonds are the long term debts for the company which are highly secured. They are purchased usually…

Q: Redemption of Bonds Payable On December 31, a $1,950,000 bond issue on which there is an…

A: Redemption of bonds is a situation on which an entity redeem their bonds before its maturity date…

Q: Riverbed Company issued $2,690,000, 9%, 20-year bonds on January 1, 2020, at 105. Interest is…

A: Given that issued bonds for $2690000 @ 105 interest rate = 9%

Q: Present entries to record the selected transactions described below: a. Issued $2,750,000 of…

A: Bonds are the debt instrument that is used to raise long-term debts. The bonds payable is a…

Q: On January 1, Year 1, Price Company issued $291,000 of five-year, 5 percent bonds at 98. Interest is…

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

Q: A $880,000 bond issue on which there is an unamortized premium of $84,000 is redeemed for $823,000.…

A: Bonds are the debt instruments using which and entity can raise finance.

Q: Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc.…

A: Interest expense  for 6 months = 3000000×8%×1/2 = $120,000