On January 1, the first day of the fiscal year, a company issues a $5,000,000, 6%,...
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On January 1, the first day of the fiscal year, a company
issues a $5,000,000, 6%,...
On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond...
On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays semiannual interest of $32,200 ($920,000 × 7% × 1/2), receiving cash of $884,174. Required: Journalize the entry to record the issuance of the bonds. Refer to the Chart of Accounts for exact wording of account titles.
On January 1, the first day of the fiscal year, a company issues a $1,500,000, 11%,...
On January 1, the first day of the fiscal year, a company issues a $1,500,000, 11%, five-year bond that pays semiannual interest of $82,500 ($1,500,000 x 11% x ½), receiving cash of $1,604,070. Journalize the bond issuance. Refer to the Chart of Accounts for exact wording of account titles.
1)On January 1, the first day of the fiscal year, a company issues a $950,000, 10%,...
1)On January 1, the first day of the fiscal year, a company issues a $950,000, 10%, 10-year bond that pays semiannual interest of $47,500 ($950,000 × 10% × ½ year), receiving cash of $950,000. (a) Journalize the entry to record the issuance of the bonds. (b) Journalize the entry to record the first interest payment on June 30. (c) Journalize the entry to record the payment of the principal on the maturity date. 2)On the first day of the fiscal year, a company...
On the first day of the fiscal year, a company issues an $946,000,8%, 5-year bond that...
On the first day of the fiscal year, a company issues an $946,000,8%, 5-year bond that pays semiannual interest of $37.840 ($946.000 x 85 x 1/2), receiving cash of $889.240 Required: Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. Refer to the Chart of Accounts for exact wording of account titles.
On January 1, the first day of the fiscal year, a company issues a $7,500,000, 8%,...
On January 1, the first day of the fiscal year, a company issues
a $7,500,000, 8%, five-year bond that pays semiannual interest of
$300,000 ($7,500,000 x 8% x ½), receiving cash of $7,811,873.
Journalize the first interest payment and the amortization of
the related bond premium. Round to the nearest dollar. Refer to the
Chart of Accounts for exact wording of account titles.
TAUL TU ACCOUNTING EQUATION JOURNAL Score: 20/37 POST.REF DEBIT DATE ASSETS LIABILITIES DESCRIPTION CREDIT EQUITY 1 2...
On January 1, the first day of the fiscal year, a company issues a $2,750,000, 8%,...
On January 1, the first day of
the fiscal year, a company issues a $2,750,000, 8%, five-year bond
that pays semiannual interest of $110,000 ($2,750,000 x 8% x ½),
receiving cash of $2,938,110.
Journal Shaded cells have feedback. X Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? PAGE 10 JOURNAL Score: 29/37 ACCOUNTING EQUATION...
Issuing Bonds at a Face Amount On January 1, the first day of the fiscal year,...
Issuing Bonds at a Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $900,000, 8%, 10-year bond that pays semiannual interest of $36,000 ($900,000 × 8% × ½ year), receiving cash of $900,000. (a) Journalize the entry to record the issuance of the bonds. (b) Journalize the entry to record the first interest payment on June 30.(b) Journalize the entry to record the first interest payment on June 30. (c) Journalize the entry to record the...
Issuing Bonds at a Face Amount On January 1, the first day of the fiscal year,...
Issuing Bonds at a Face Amount On January 1, the first day of the fiscal year, a company issues a $250,000, 7%, 10-year bond that pays semiannual interest of $8,750 ($250,000 × 7% × ½ year), receiving cash of $250,000. (a) Journalize the entry to record the issuance of the bonds. (b) Journalize the entry to record the first interest payment on June 30. (c) Journalize the entry to record the payment of the principal on the maturity date.
ISSUING BONDS AT A FACE AMOUNT On January 1, the first day of the fiscal year,...
ISSUING BONDS AT A FACE AMOUNT On January 1, the first day of the fiscal year, a company issues a $700,000, 6%, 10-year bond that pays semiannual interest of $21,000 ($700,000 × 6% × ½ year), receiving cash of $700,000. (a) Journalize the entry to record the issuance of the bonds. _________________ ________ _________________ ________ (b) Journalize the entry to record the first interest payment on June 30. _________________ ________ _________________ ________ (c) Journalize the entry to record the payment of the principal...
On the first day of its fiscal year, Ebert Company issued $11,000,000 of 10-year, 7% bonds...
On the first day of its fiscal year, Ebert Company issued $11,000,000 of 10-year, 7% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 9%, resulting in Ebert receiving cash of $9,569,097. The company uses the interest method. Required: a. Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles. 1. Sale of the bonds on January 1. 2....
On the first day of the fiscal year, a company issues an $946,000,8%, 5-year bond that pays semiannual interest of $37.840 ($946.000 x 85 x 1/2), receiving cash of $889.240 Required: Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. Refer to the Chart of Accounts for exact wording of account titles.
On January 1, the first day of the fiscal year, a company issues
a $7,500,000, 8%, five-year bond that pays semiannual interest of
$300,000 ($7,500,000 x 8% x ½), receiving cash of $7,811,873.
Journalize the first interest payment and the amortization of
the related bond premium. Round to the nearest dollar. Refer to the
Chart of Accounts for exact wording of account titles.
TAUL TU ACCOUNTING EQUATION JOURNAL Score: 20/37 POST.REF DEBIT DATE ASSETS LIABILITIES DESCRIPTION CREDIT EQUITY 1 2...
On January 1, the first day of
the fiscal year, a company issues a $2,750,000, 8%, five-year bond
that pays semiannual interest of $110,000 ($2,750,000 x 8% x ½),
receiving cash of $2,938,110.
Journal Shaded cells have feedback. X Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? PAGE 10 JOURNAL Score: 29/37 ACCOUNTING EQUATION...
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