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On January 1, 2019, Tonika Company issued a four-year, $12,100,7% bond. The interest is payable annually...
On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable...
On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable annually each December 31. The issue price was $9,523 based on an 7% effective interest rate. Tonika uses the effective-interest amortization method. The interest expense on the income statement for the year ended December 31, 2019 is closest to: Multiple Choice O $780. O $571. O $600. o $667
On January 1, 2019, Tonika Company issued a seven-year, $10,000, 8% bond. The interest is payable...
On January 1, 2019, Tonika Company issued a seven-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,496 based on an 9% effective interest rate. Tonika uses the effective-interest amortization method. The interest expense on the income statement for the year ended December 31, 2019 is closest to: Multiple Choice $855. $972. o $800. o o $760.
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is payable annually eac...
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,683 based on an 10% effective interest rate. Tonika uses the effective-interest amortization method. The 2020 interest expense is closest to: a) $900. b) $871 c) $878. d) $975.
On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable...
On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,611 based on an 9% effective interest rate. Tonika uses the effective-interest amortization method. The book value of the bonds as of December 31, 2019 is closest to: Multiple Choice Ο $9,676. Ο $8,811. Ο $65. Ο $9,546.
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is...
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,683 based on an 10% effective interest rate. Tonika uses the effective-interest amortization method. The 2020 interest expense is closest to: a) $900. b) $871. c) $878. d) $975.
On January 1, 2019, a company issued $400,900 of 10-year, 12% bonds. The interest is payable...
On January 1, 2019, a company issued $400,900 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue price was $415,403 based on a 10% market interest rate. The effective-interest method of amortization is used. Rounding all calculations to the nearest whole dollar, what is the interest expense for the six-month period ending June 30, 2019? Multiple Choice 0 $20,770. $20,770. 0 $24,054. $24,054. o $20,045. o $24,924.
On January 1, 2019, Agree Company issued $85,000 of five-year, 8% bonds when the market interest...
On January 1, 2019, Agree Company issued $85,000 of five-year, 8% bonds when the market interest rate was 12%. The issue price of the bonds was $62,401. Agree uses the effective-interest method of amortization for bond discount. Semiannual interest payments are made on June 30 and December 31 of each year. Which of the following is the correct journal entry to record the first interest payment? (Round all amounts to the nearest whole dollar.) A. Interest Expense 3,400 Discount on...
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest...
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). McNeil Corporation's year-end is June 30. Read the requirements. 1. Using the PV function in Excel", calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ í Requirements 1. Using the...
E14-1 On Jan 1 2019 LCM1 issued a 5 year $700,000 Bond paying 9% interest semi-annually....
E14-1 On Jan 1 2019 LCM1 issued a 5 year $700,000 Bond paying 9% interest semi-annually. The market rate for bonds of similar risk and maturity was 10%. LCM uses the straight-line method amortization. Journalize the LCM1 Issue Cr. Dr. Jan 1 Cash Bond Issue Disc Bond Journalize the interest payment made by LCM June 30 2019 Cr. Dr. Jun 30 Interest Payment
Rangel Corporation issued $560,000 of 5%, 10-year bonds payable on March 31, 2019. The market interest...
Rangel Corporation issued $560,000 of 5%, 10-year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually. Rangel Corporation's year-end is March 31. Read the requirements. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ . i Requirements 1. Using the PV function in Excel, calculate...
On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable annually each December 31. The issue price was $9,523 based on an 7% effective interest rate. Tonika uses the effective-interest amortization method. The interest expense on the income statement for the year ended December 31, 2019 is closest to: Multiple Choice O $780. O $571. O $600. o $667
On January 1, 2019, Tonika Company issued a seven-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,496 based on an 9% effective interest rate. Tonika uses the effective-interest amortization method. The interest expense on the income statement for the year ended December 31, 2019 is closest to: Multiple Choice $855. $972. o $800. o o $760.
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,683 based on an 10% effective interest rate. Tonika uses the effective-interest amortization method. The 2020 interest expense is closest to: a) $900. b) $871 c) $878. d) $975.
On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,611 based on an 9% effective interest rate. Tonika uses the effective-interest amortization method. The book value of the bonds as of December 31, 2019 is closest to: Multiple Choice Ο $9,676. Ο $8,811. Ο $65. Ο $9,546.
17. On January 1, 2019, Tonika Company issued a four-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,683 based on an 10% effective interest rate. Tonika uses the effective-interest amortization method. The 2020 interest expense is closest to: a) $900. b) $871. c) $878. d) $975.
On January 1, 2019, a company issued $400,900 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue price was $415,403 based on a 10% market interest rate. The effective-interest method of amortization is used. Rounding all calculations to the nearest whole dollar, what is the interest expense for the six-month period ending June 30, 2019? Multiple Choice 0 $20,770. $20,770. 0 $24,054. $24,054. o $20,045. o $24,924.
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). McNeil Corporation's year-end is June 30. Read the requirements. 1. Using the PV function in Excel", calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ í Requirements 1. Using the...
E14-1 On Jan 1 2019 LCM1 issued a 5 year $700,000 Bond paying 9% interest semi-annually. The market rate for bonds of similar risk and maturity was 10%. LCM uses the straight-line method amortization. Journalize the LCM1 Issue Cr. Dr. Jan 1 Cash Bond Issue Disc Bond Journalize the interest payment made by LCM June 30 2019 Cr. Dr. Jun 30 Interest Payment
Rangel Corporation issued $560,000 of 5%, 10-year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually. Rangel Corporation's year-end is March 31. Read the requirements. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ . i Requirements 1. Using the PV function in Excel, calculate...
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