Homework Answers
The answer will be option “c” $75,600
Calculations and explanations: We will first compute the carrying value of the bonds. Carrying value = 1,140,000 + [(1,140,000*0.06) – (1,200,000*0.05)]
= 1,148,400
Now loss = (12,00,000*1.02) – 1,148,400
= 1,224,000 – 1,148,400
= 75,600
Add Answer to:
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amortization of the bond discount was recorded under the
effective-interest method. Interest was paid on January 1 and July
1 of each year. On July 2, 2018, several years before their
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Due 2/20 before 11:00 am Exting. Debt 1. (P14-13) On June 30, Umno Inc., had outstanding...
Due 2/20 before 11:00 am Exting. Debt 1. (P14-13) On June 30, Umno Inc., had outstanding 8% bonds with a face value of $1,500,000 maturing in 10 years. Interest is payable on June 30 and December 31. The updated unamortized balance in the bond discount account on June 30 was $55,000. On June 30, Umno acquired all of these bonds at 94 plus accrued interest. The gain on retirement, ignoring taxes, is a. $15,000. b. $35,000 c. $90,000 d. $52,000....
Hi, I wanna know those questions how to solve step by step. I put solutions on...
Hi, I wanna know those
questions how to solve step by step.
I put solutions on the below, but I don't know where those
numbers came?
Is there any ways to calculate them more easily? Thank you.
89. c [BC1]
= $2,053,000 (CV of retired bonds)
$2,053,000
– ($2,000,000 × .98) = $93,000.
90. b [BC2]
= $4,036,000 (CV of retired bonds)
$4,036,000
– ($4,000,000 .96) = $196,000.
91. b $2,850,000
+ [($2,850,000 × .06) – ($3,000,000 × .05)] = $2,871,000 (CV of
bonds)
$2,871,000...
calculate the gain or loss of the retirmentent bonds payable on december 31, 2019 nu Score:...
calculate the gain or loss of the retirmentent bonds payable
on december 31, 2019
nu Score: 1.91 of 2 pts 3 of 6 (5 complete) HW Score: 39.26%, 5.89 of 15 pts Ad E9-28B (similar to) Question Help Ind inly On January 1, 2017, Franklin Corporation issued five year, 6% bonds payable with a face value of $2,000,000. The bonds were issued at 92 and pay interest on January 1 and July 1. Franklin amortizes bond discounts using the straight-line...
(2) E9-19A (similar to) On January 1, 2017 Bronson Corporation sued five-year, 10% bonds payable watace...
(2) E9-19A (similar to) On January 1, 2017 Bronson Corporation sued five-year, 10% bonds payable watace 2.800,000. The bonds were issued at B5 and pay interest on January 1 andy1 Bronson amores bond discounts using the right method On December 31, 2010, Bronson retired the bonds cany by purchasing them atamarat prices The company's focal year ends on December 31 Read the Requirement 1. Journaise the issuance of the bonds on January 1, 2017(ecord debits to the credits Exclude explanations...
Journalize Entries 38 Points: 30 Minutes stock authorized. During Rowlands Corporation has 100,000 shares of $10 par value it had the following transactions related to its preferred stock. E...
Journalize Entries 38 Points: 30 Minutes stock authorized. During Rowlands Corporation has 100,000 shares of $10 par value it had the following transactions related to its preferred stock. Exercise 1 DATE a) issued 20,000 shares at $55 per share. a) issued 10,000 shares for equipment having a $850,000 asking price. The stock hada of $75 per share Journalize the transactions in the following page On January 1, 2019, the stockholders' stock (S5 par value) $1,500,000; paid-in capital in excess of...
The 8% bonds payable of Sunland Company had a net carrying
amount of $3010000 on December 31, 2017. The bonds, which had a
face value of $3160000, were issued at a discount to yield 10%. The
amortization of the bond discount was recorded under the
effective-interest method. Interest was paid on January 1 and July
1 of each year. On July 2, 2018, several years before their
maturity, Sunland retired the bonds at 102. The interest payment on
July 1,...
Due 2/20 before 11:00 am Exting. Debt 1. (P14-13) On June 30, Umno Inc., had outstanding 8% bonds with a face value of $1,500,000 maturing in 10 years. Interest is payable on June 30 and December 31. The updated unamortized balance in the bond discount account on June 30 was $55,000. On June 30, Umno acquired all of these bonds at 94 plus accrued interest. The gain on retirement, ignoring taxes, is a. $15,000. b. $35,000 c. $90,000 d. $52,000....
Hi, I wanna know those
questions how to solve step by step.
I put solutions on the below, but I don't know where those
numbers came?
Is there any ways to calculate them more easily? Thank you.
89. c [BC1]
= $2,053,000 (CV of retired bonds)
$2,053,000
– ($2,000,000 × .98) = $93,000.
90. b [BC2]
= $4,036,000 (CV of retired bonds)
$4,036,000
– ($4,000,000 .96) = $196,000.
91. b $2,850,000
+ [($2,850,000 × .06) – ($3,000,000 × .05)] = $2,871,000 (CV of
bonds)
$2,871,000...
calculate the gain or loss of the retirmentent bonds payable
on december 31, 2019
nu Score: 1.91 of 2 pts 3 of 6 (5 complete) HW Score: 39.26%, 5.89 of 15 pts Ad E9-28B (similar to) Question Help Ind inly On January 1, 2017, Franklin Corporation issued five year, 6% bonds payable with a face value of $2,000,000. The bonds were issued at 92 and pay interest on January 1 and July 1. Franklin amortizes bond discounts using the straight-line...
(2) E9-19A (similar to) On January 1, 2017 Bronson Corporation sued five-year, 10% bonds payable watace 2.800,000. The bonds were issued at B5 and pay interest on January 1 andy1 Bronson amores bond discounts using the right method On December 31, 2010, Bronson retired the bonds cany by purchasing them atamarat prices The company's focal year ends on December 31 Read the Requirement 1. Journaise the issuance of the bonds on January 1, 2017(ecord debits to the credits Exclude explanations...
Journalize Entries 38 Points: 30 Minutes stock authorized. During Rowlands Corporation has 100,000 shares of $10 par value it had the following transactions related to its preferred stock. Exercise 1 DATE a) issued 20,000 shares at $55 per share. a) issued 10,000 shares for equipment having a $850,000 asking price. The stock hada of $75 per share Journalize the transactions in the following page On January 1, 2019, the stockholders' stock (S5 par value) $1,500,000; paid-in capital in excess of...
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