Homework Answers
Since bonds are issued at par ie 100%;
Hence amount of cash proceeds=$202,000*100%
which is equal to
=$202,000
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If bonds with a face value of $202,000 are issued at par, the amount of cash...
If bonds with a face value of $200,000 are issued at 95, the amount of cash...
If bonds with a face value of $200,000 are issued at 95, the amount of cash proceeds is OA. $180,000 OB. $200,000 OC. $199,905 OD. $190,000 The market rate of interest O A. affects the amount of cash interest the borrower pays each year OB. is also known as the stated rate of interest OC. is printed on the bond and does not change from year to year OD. works with the stated rate of interest to set the price...
Sanchez Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million shares of its $1 par value common stock, for a combined cash amount of $22 million. The market value of Sanchez's stock cannot be dete
Sanchez Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million shares of its $1 par value common stock, for a combined cash amount of $22 million. The market value of Sanchez's stock cannot be determined. The bonds would have sold for $9 million if issued separately. Sanchez should record paid-in capital - excess of par on the transaction in the amount of:
4. Tax-supported serial bonds with a $7,400,000 par value were issued in cash to permit refunding...
4. Tax-supported serial bonds with a $7,400,000 par value were issued in cash to permit refunding of a $7,400,000 par value issue of term bonds. Assume that the term bonds had been issued several years earlier at par. 4a Debt Service Fund Record the issue of tax-supported serial bonds for partial refund of term bonds. Cash 7,400,000 Other Financing Sources—Proceeds of Refunding Bonds 7,400,000 4b Record the refund of the par value bonds. Other Financing Uses-Refunded Bonds 7,400,000 Cash 7,400,000
Q1: Suppose a Convertible Bond with a Face (i.e., Par) Value of $3,000,000 is issued at...
Q1: Suppose a Convertible Bond with a Face (i.e., Par) Value of $3,000,000 is issued at Par (i.e., at 100). The Convertible Bonds are repurchased (i.e., repaid) at maturity. When the Convertible Bonds were issued, the Equity component was valued at $1,000,000. The Journal Entry to record the repurchase of the Convertible Bonds at maturity is: a. Debit: Bonds Payable, $2,000,000. Credit: Cash, $2,000,000 b. Debit: Cash, $3,000,000. Credit: Bonds Payable, $3,000,000 c. None of these answers d. Debit: Bonds...
Doyle Company issued $202,000 of 10-year, 7 percent bonds on January 1, 2016. The bonds were issu...
Doyle Company issued $202,000 of 10-year, 7 percent bonds on January 1, 2016. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $46,000 of cash revenue which was collected on December 31 of each year, beginning December 31, 2016. (Select "cl" for all the closing entries.) Cash 2016 2016 End. Bal End. Bal...
1- Suppose a Convertible Bond with a Face Value of $100 million is issued at Par....
1- Suppose a Convertible Bond with a Face Value of $100 million is issued at Par. The fair value (i.e., Present Value of future cash flows) of the Debt Component at the date of issue is $80 million. What is the fair value of the Equity component? a. Zero b. $20 Million c. $120 million d. $180 million e. None of these answers 2-: Suppose 20 Convertible Bonds with a face value each of $1,000 are issued at Par. Each...
24. Falco Inc. issued bonds on July 1, 2014 with a face value of $25,000,000. Record...
24. Falco Inc. issued bonds on July 1, 2014 with a face value of $25,000,000. Record the journal entry for the issuance of the bonds in each of the following independent situations: a. The bonds are issued at par. b. The cash received for the issuance of the bonds is $26,250,000. k. The cash received for the issuance of the bonds is $23,084,000
On the day the bonds were dated, Willow Corp. issued 12% bonds having a face value...
On
the day the bonds were dated, Willow Corp. issued 12% bonds having
a face value of $100,000 for $95,233
On the day the bonds were dated, Willow Corp. issued 12% bonds having a face value of $100,000 for $95,233. a. What entry is required to record the sale of the bonds? b. What amount of interest would be paid to bondholders annually?! c. What amount of interest would be paid to bondholders semi-annually?
Current Attempt in Progress Cullumber Company issued 6%, 7-year, $320,000 par value bonds that pay interest...
Current Attempt in Progress Cullumber Company issued 6%, 7-year, $320,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The discount rate of interest for such bonds on April 1, 2022, is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Cullumber receive from issuance of the bonds? (Round...
Alexi Co. issued $4.00 million face amount of 7%, 10-year bonds on June 1, 2019. The...
Alexi Co. issued $4.00 million face amount of 7%, 10-year bonds on June 1, 2019. The bonds pay interest on an annual basis on May 31 each year. Required: a. Assume that the market interest rates were slightly higher than 7% when the bonds were sold. Would the proceeds from the bond issue have been more than, less than, or equal to the face amount? Multiple Choice The bonds will sell for less than their face amount. The bonds will...
If bonds with a face value of $200,000 are issued at 95, the amount of cash proceeds is OA. $180,000 OB. $200,000 OC. $199,905 OD. $190,000 The market rate of interest O A. affects the amount of cash interest the borrower pays each year OB. is also known as the stated rate of interest OC. is printed on the bond and does not change from year to year OD. works with the stated rate of interest to set the price...
4. Tax-supported serial bonds with a $7,400,000 par value were issued in cash to permit refunding of a $7,400,000 par value issue of term bonds. Assume that the term bonds had been issued several years earlier at par. 4a Debt Service Fund Record the issue of tax-supported serial bonds for partial refund of term bonds. Cash 7,400,000 Other Financing Sources—Proceeds of Refunding Bonds 7,400,000 4b Record the refund of the par value bonds. Other Financing Uses-Refunded Bonds 7,400,000 Cash 7,400,000
Doyle Company issued $202,000 of 10-year, 7 percent bonds on January 1, 2016. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $46,000 of cash revenue which was collected on December 31 of each year, beginning December 31, 2016. (Select "cl" for all the closing entries.) Cash 2016 2016 End. Bal End. Bal...
24. Falco Inc. issued bonds on July 1, 2014 with a face value of $25,000,000. Record the journal entry for the issuance of the bonds in each of the following independent situations: a. The bonds are issued at par. b. The cash received for the issuance of the bonds is $26,250,000. k. The cash received for the issuance of the bonds is $23,084,000
On
the day the bonds were dated, Willow Corp. issued 12% bonds having
a face value of $100,000 for $95,233
On the day the bonds were dated, Willow Corp. issued 12% bonds having a face value of $100,000 for $95,233. a. What entry is required to record the sale of the bonds? b. What amount of interest would be paid to bondholders annually?! c. What amount of interest would be paid to bondholders semi-annually?
Current Attempt in Progress Cullumber Company issued 6%, 7-year, $320,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The discount rate of interest for such bonds on April 1, 2022, is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Cullumber receive from issuance of the bonds? (Round...
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