When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited. The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

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Answer 1

Question

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

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Answer 2

Question

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

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Answer 3

Question

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

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Answer 4

Question

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

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Answer 5

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

Answer 6

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

Answer 7

Chapter 14, Problem 14RQ

To determine

When the bonds are retired at the time of maturity, only nominal value of bonds stood in the books whether issued at par or at discount or at premium. As the total discount or premium amount shall get completely amortized over the life of bonds and shall have Nil balance in the books at the time of maturity. Therefore, for retirement, only bonds payable account shall be debited and cash account gets credited.

The Journal entry required to be passed in the books of account for the retirement of bonds at the time of maturity need to be determined.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 14 - Prob. 1QC Ch. 14 - Daniels's bonds payable carry a stated interest...Ch. 14 - Prob. 3QC Ch. 14 - Prob. 4QC Ch. 14 - Prob. 5QC Ch. 14 - Prob. 6QC Ch. 14 - Prob. 7QC Ch. 14 - Prob. 8QC Ch. 14 - Prob. 9AQC Ch. 14 - 10B Hicks Corporation issued S500.000 of 5%,...

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