Synergy Corporation is authorized to issue $1,200,000 of 8% bonds. Interest on the bonds is payable semiannually; the bonds are dated January 1, 2019, and are due December 31, 2023. Required:   Prepare the journal entries to record the following:   a. January 1, 2019 Sold the bonds at par b. June 30, 2019 First interest payment c. December 31, 2019 Second interest payment

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest…

A: Hello, since the student has posted multiple requirements, only the first three is answerable. Thank…

Q: Burris Corporation is authorized to issue $720,000 of 7% bonds. Interest on the bonds is payable…

A: Accrued interest = Face value of bonds x rate of interest x no. of months / 12 months

Q: Polk Incorporated issued $251,000 of 10% bonds on July 1, 2019, for $260,122.33. The bonds were…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS    Par value of bonds = $251,000  Semi-annual interest…

Q: ABC Corporation is authorized to issue P5,000,000 of 6%, 10-year bonds dated July 1, 2020, with…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

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: Bryan Company issued $500,000 of 10% face value bonds on January 1, 2019, for $486,000. The bonds…

A: Workings: Discount on issue of 10% Bonds=$500,000-$486,000=$14,000 the straight-line amortization…

Q: On January 1, 2020, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a…

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

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: Marbel Company was authorized to issue 12% bonds payable with face amount of P5,000,000 on April…

A: Bonds are those units that are issued by the companies and securitized as tradeable assets. It is a…

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: Carrington Corporation reports the following outstanding bond issue on its December 31, 2019:…

A: A bond is a debt component issued by the entity for generating cash. It is recorded as a non-current…

Q: Polk Incorporated issued $242,000 of 7% bonds on July 1, 2019, for $251,421.19. The bonds were dated…

A: Given, Face value = $242,000 Issue price = $251,421.19 Coupon rate = 7%/2 = 3.5% Market rate = 6%/2…

Q: On March 31, 2021, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year…

A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three…

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…

Q: DEF Company was authorized to issue 12%, 10-year bond with face amount of P20,000,000 on January 1,…

A:

Q: on april 1, 2019 franville corporation issued, at 98 plus accrued interest, 400 of its 105, $1000…

A: Number of bonds = 400 Face value of bonds = $1,000 The bonds issued at a 98% discount  Interest on…

Q: .Kiki Inc., which closes its books on December 31, is authorized to issue $600,000 of 8%, 10-year…

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

Q: On March 1, 2020, Mitchell Inc. issued 60, 6%, $1,000 bonds dated March 1, 2020 for $62,626. The…

A: Bond Payables: In the financial statement, bonds payable represents the amount owing to bondholders…

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

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

Q: Determine the proceeds that the company will receive if it sells the following: (Click here to…

A: Computation of proceeds from bonds is shown below :

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

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

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

Q: On January 1, 2019, Salt Mine Corporation purchased at par 8% bonds having a maturity value of…

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

Q: Romero issues $3,400,000 of 10%, 10-year bonds dated January 1, 2019, that pay interest semiannually…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

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: Polk Incorporated issued $242,000 of 7% bonds on July 1, 2019, for $251,421.19. The bonds were dated…

A: Journal entries to record the issue of the bonds on July 1, 2019, and the interest payments on…

Q: Xonic Corporation issued $8 million of 20-year, 8 percent bonds on April 1, 2021, at 102. Interest…

A: a) Date Account titles & explanation Debit Credit Apr 1, 2021 Cash (8,000,000 *102%)…

Q: On January 1, 2019, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

A: 1. Calculation for Bonds Issuance Entry  A) Discount on issue of bonds.   = Bonds Issue price-Bonds…

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: Bond is a source of debt financing for companies. It carries a fixed rate of interest which the…

Q: On January 1, 2018, Paradiso Company issued 1,000 of its 8%, $1,000 bonds at 93. Interest is payable…

A: Bonds: Bonds are a kind of interest-bearing notes payable, usually issued by companies,…

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 January 1, 2021, HBB Company was authorized to issue 12% bonds with a face amount of ₱5,000,000.…

A: A journal entry is a sort of accounting entry used to record a business transaction in the…

Q: a. Prepare a bond amortization schedule for 2020 and 2021 using the effective interest method.…

A: “Since you have posted a question with multiple subparts, we will be solving the first three…

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

A: What is meant by Journal entries? It is the first step to record the financial transactions in the…

Q: On July 1, 2019, Cyclic Inc issued $1,000,000 in principal of 6% bonds due in July 2024. The bond…

A: Bond :— It is one of the source of capital which gives fixed rate of interest and maturity value at…

Q: Polk Incorporated issued $231,000 of 11% bonds on July 1, 2019, for $239,209.53. The bonds were…

A: Amortization Schedule:- It is a statement prepared for the premium and discount over the investment…

Q: Ellison Corporation issued $300,000, 8%, five-year bonds on January 1, 2019, for$325,591 when the…

A: Given, Carrying Value of bond = $325,591 Interest Rate = 6%

Q: On May 1, 2018, Green Corporation issued $1,100,000 of 12% bonds, dated January 1, 2018, for…

A:

Q: Calculate the value of the bond at the time of issuance, and record the initial journal entry.…

A: Bond valuation refers to a method which is used to compute the current value of future cash flow of…

Q: Madison Corporation is authorized to issue $570,000 of 5-year bonds dated June 30, 2019, with a…

A: Solution-1 Cash Flow at the time of maturity = $570000 Interest (Annuity) semiannually =…

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: The Sleepy Corporation issued $1,000,000 of ten year bonds on January 1, 2019. The interest rate on…

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

Q: On January 1, 2019, North Company issued $2,000,000 of bonds with a stated rate of 10% that are due…

A:

Q: On January 1, 2019, Langka Inc. issued 9% bonds in the face amount of P5,000,000 which mature on…

A: Solution: Face value of bond = P5,000,000 Issue price of bond = P4,695,000

Q: On January 1, 2019, Legion Company sold OMR 50,000 of 10% ten-year bonds. Interest is payable…

A: Formulas: Interest expense = Issue price * Yield

Q: On May 1, 2019, Ramden Company issues 13% bonds with a face value of $2 million. The bond contract…

A:

Q: On June 30, 2019, King Company had outstanding 9%, P5,000,000 face value bonds maturing on June 30,…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: ABC Corporation is authorized to issue P5,000,000 of 6%, 10-year bonds dated July 1, 2020, with…

A: CASH RECEIVED  P5,150,000 ACCRUED INTEREST FROM JUNE TO NOVEMBER  (5,000,000 X 6% X 4/12)…

Q: On January 1, 2019, Electro Inc. issued $740,000 of 7.5%, four-year bonds that pay interest…

A: Journal entry is record of a transaction in accounting system