On January 1, 2019 (the authorization date), Temple Company issues $500,000 of 9% bonds at 103. These bonds pay interest on June 30 and December 31. Required:   Prepare the journal entry to record the issuance of the bonds.

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: 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: On January 1, 2019, W Sport Corporation issued 10% bonds with a face value of $200,000. The bonds…

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

Q: Chowan Corporation issued $198,000 of 8% bonds dated January 1, 2019, for $191,470.07 on January 1,…

A: Discount on bonds payable is first calculated which is the difference of Bonds par value and the…

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: 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, 2024, White Water issues $550,000 of 5% bonds, due in 15 years, with interest payable…

A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…

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: ) On January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

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

Q: Chowan Corporation issued $198,000 of 8% bonds dated January 1, 2019, for $191,470.07 on January 1,…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: On January 1, 2020, Skysong Corporation issued $660,000 of 9% bonds, due in 8 years. The bonds were…

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

Q: On January 1, 2019, Berlin Corporation issued $500,000 of 11.5% bonds due December 31, 2025, at 102.…

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

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: Synergy Corporation is authorized to issue $1,200,000 of 8% bonds. Interest on the bonds is payable…

A: a)

Q: Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b)…

A: Bonds: Bonds are the fixed income instrument that provide regular interest income to its holders. It…

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Solution A journal is used to record the business transation in chronological order. It has two…

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: On January 1, 2021, Splash City issues $450,000 of 7% bonds, due in 10 years, with interest payable…

A: Solution;- Preparation of amortization schedules as follows:-

Q: On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with…

A: Answer: The carrying value of a bond refers to the net amount between the bond’s face value plus any…

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 April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Golden Rules of Accounting : Account Type Debit Credit Personal Account the receiver the giver…

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

A:

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: Polk Incorporated issued $200,000 of 13% bonds on July 1, 2019, for $206,801.60. The bonds were…

A: The following computations are done for Polk Incorporation.

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

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

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

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

Q: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b) Stillworth’s…

A: Journal enteries on the issuance of Bonds for the organisation Western and stillworth organisation.

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, 2020, Grouper Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 on January 1,…

A: Bonds Payable: Bonds Payable are the financial instruments that are issued with a promise or…

Q: On September 1, 2021, Evansville Lumber Company issued $80 million in 20-year, 10 percent bonds…

A: Discount Amortization=Amount of bonds issued×Rate of interest×Number of monthPeriod of issuance…

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

A: Bonds are kinds of instrument issued by company acknowledging the debt due by company to outsider.…

Q: esto Corporation has authorized to issue$4,500,000 of its 9%, 5-year bonds On January 1, 2019, when…

A: 1) Journal Entry to record issue of Bonds. Date Particulars Debit Credit Jan 1 - 2019 Cash…

Q: On May 1, 2020, Judice Company issued 400 $1,000 bonds at 104. Each bond was issued with two…

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

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: 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: Nasreen Company issues $2,000,000, 10-year, 8% bonds at 97, with interest payable each January 1.…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

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 April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Journal Entry: It is the act  of  recording  business transaction(either economic or non-economic)…

Q: On the July 1, 2021, Trials Corporation issued $17,500,000 of five-year, 12% bonds to finance its…

A: Bonds are issued to generate funds. When the contract rate of interest is more than the market rate…

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…

Q: On January 1, 2021, Splash City issues $310,000 of 9% bonds, due in 20 years, with interest payable…

A: Annual Interest payment = 9%×$310,000=$27,900 The interest is to be paid semi-annually.  So, the…

Q: Prepare the journal entries to record (a) the issuance of the bonds, (b) the payment of interest and…

A: Given information is:  Value of bonds issued = $800,000 Period = 20 years Issue price of bond =…

Q: On January 1, 2020, Whispering Corporation redeemed $510,000 of bonds at 98. At the time of…

A: When the bonds are issued at premium, the premium on bonds amortised needs to be carried forward and…

Q: On January 1, 2020, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of…

A: Calculate the amount of cash paid to redeem the bond.