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Submit #4 Ch.9 810 (90 min.) Help Save & Exit On January 1, Parson...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a company issued and sold a $391,000,7%, 10 year bond payable and received proceeds of $386.000. Interesi payable each Jurve 30 and December 31. The company uses the straight line method to amortize the discount. The journal entry to record the first interest payment is Multiple Choice Debit Bond Interest Expense $13,685 Credit Cash $13.685 Debit Dond Interest Expense 5130 Credit Cash $13689 Credit Discount...
I am doing 5700*10%*60/360 but keep getting the wrong numbers 14 Ch.9 &10 (90 min.) i...
I am doing 5700*10%*60/360 but keep getting the wrong
numbers
14 Ch.9 &10 (90 min.) i Help Save & Exit On April 12. Hong Company agrees to accept a 60 day, 8%, $5,700 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Multiple Choice ESTE O Debit Notes Payable $5,700,...
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000....
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $2.719,298. The bond issuance should be recorded as: Multiple Choice O Debit Cash $2,719,298, debit interest Expense $180,702, credit Bonds Payable $2,900,000 O O Debit Cash $2,900,000; credit Bonds Payable $2.719.298, credit Discount on Bonds Payable $180,702 O o Debit Cash $2,900,000 credit Bonds Payable $2,900,000....
On January 1, Parson Freight Company issues 7.0 % , 10- year bonds with a par...
On January 1, Parson Freight Company issues 7.0 % , 10- year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0 % and the bond 16 selling price was $4,194,222. The bond issuance should be recorded as: Multiple Choice Debit Cash $4,500,000; credit Bonds Payable $4,194,222; credit Discount on Bonds Payable $305,778. Debit Cash $4,194,222; credit Bonds Payable $4,194,222. Debit Cash $4,500,000; credit Bonds Payable $4,500,000. Debit Cash $4,194,222; debit Discount on Bonds Payable $305,778;...
Saved Help Save & Exit HW 9 0 Submit Check my work On January 1, 2021,...
Saved Help Save & Exit HW 9 0 Submit Check my work On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $540,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year Part 1 of 3 Required: 1. If the market interest rate is 7%, the bonds will issue at $540,000. Record the bond issue on January 1, 2021, and the first two semiannual...
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $3,900,000....
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $3,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $3,634,992. The bond issuance should be recorded as Multiple Choice Debit Cash $3,900,000; credit Bonds Payable $3,900,000. Debit Cash $3,634,992; credit Bonds Payable $3,634,992. Debit Cash $3,900,000; credit Bonds Payable $3,634,992; credit Discount on Bonds Payable $265,008. Debit Cash $3,634,992; debit Discount on Bonds Payable $265,008;...
On January 1, Parson Freight Company issues 70 % , 10- year bonds with a par...
On January 1, Parson Freight Company issues 70 % , 10- year bonds with a par value of $3,000,000. The bonds pay interest semiannually. The market rate of interest i 8.0% and t e bond selling price was $2,796,147. The bond issuance should be recorded as: Multiple Choice Debit Cash $3.000.000: credit Bonds Pavable $3.000.000. Debit Cash $2796.147, debit Discount on Bands Pavable $203.853, credit Bonds Pavable $3.000.000. Debit Cash $2796.147; debit Interest Expense $203.853: credit Bonds Payoble $3.000,00o0. Debit...
Saved Help Save & EX Submit A company purchased $108,000 of 6% bonds on May 1...
Saved Help Save & EX Submit A company purchased $108,000 of 6% bonds on May 1 at par value. The bonds pay interest on March 1 and September 1 The amount of interest accrued on December 31 the company's year-end would be Multiple Choice $3.240 $5,400 $1080 о $2,700 $2,160 Next > 15 of 36 1 < Prev SAMSUNG ere to search
Saved Help Save & Exit Submit On January 1, 2021, a company issues $750,000 of 8%...
Saved Help Save & Exit Submit On January 1, 2021, a company issues $750,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $750,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a...
On January 1, a company issues bonds dated January 1 with a par value of $220,000....
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the issuance of the bond is: Multiple Choice C Debit Cash $228,930; credit Bonds Payable $228,930 Debit Cash $228,930; credit Premium on Bonds Payable $8,930...
14 Ch. 9 8 10 90 min.) Help Save & Ex Submit On January 1, a company issued and sold a $391,000,7%, 10 year bond payable and received proceeds of $386.000. Interesi payable each Jurve 30 and December 31. The company uses the straight line method to amortize the discount. The journal entry to record the first interest payment is Multiple Choice Debit Bond Interest Expense $13,685 Credit Cash $13.685 Debit Dond Interest Expense 5130 Credit Cash $13689 Credit Discount...
I am doing 5700*10%*60/360 but keep getting the wrong
numbers
14 Ch.9 &10 (90 min.) i Help Save & Exit On April 12. Hong Company agrees to accept a 60 day, 8%, $5,700 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Multiple Choice ESTE O Debit Notes Payable $5,700,...
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $2.719,298. The bond issuance should be recorded as: Multiple Choice O Debit Cash $2,719,298, debit interest Expense $180,702, credit Bonds Payable $2,900,000 O O Debit Cash $2,900,000; credit Bonds Payable $2.719.298, credit Discount on Bonds Payable $180,702 O o Debit Cash $2,900,000 credit Bonds Payable $2,900,000....
On January 1, Parson Freight Company issues 7.0 % , 10- year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0 % and the bond 16 selling price was $4,194,222. The bond issuance should be recorded as: Multiple Choice Debit Cash $4,500,000; credit Bonds Payable $4,194,222; credit Discount on Bonds Payable $305,778. Debit Cash $4,194,222; credit Bonds Payable $4,194,222. Debit Cash $4,500,000; credit Bonds Payable $4,500,000. Debit Cash $4,194,222; debit Discount on Bonds Payable $305,778;...
Saved Help Save & Exit HW 9 0 Submit Check my work On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $540,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year Part 1 of 3 Required: 1. If the market interest rate is 7%, the bonds will issue at $540,000. Record the bond issue on January 1, 2021, and the first two semiannual...
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $3,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $3,634,992. The bond issuance should be recorded as Multiple Choice Debit Cash $3,900,000; credit Bonds Payable $3,900,000. Debit Cash $3,634,992; credit Bonds Payable $3,634,992. Debit Cash $3,900,000; credit Bonds Payable $3,634,992; credit Discount on Bonds Payable $265,008. Debit Cash $3,634,992; debit Discount on Bonds Payable $265,008;...
On January 1, Parson Freight Company issues 70 % , 10- year bonds with a par value of $3,000,000. The bonds pay interest semiannually. The market rate of interest i 8.0% and t e bond selling price was $2,796,147. The bond issuance should be recorded as: Multiple Choice Debit Cash $3.000.000: credit Bonds Pavable $3.000.000. Debit Cash $2796.147, debit Discount on Bands Pavable $203.853, credit Bonds Pavable $3.000.000. Debit Cash $2796.147; debit Interest Expense $203.853: credit Bonds Payoble $3.000,00o0. Debit...
Saved Help Save & EX Submit A company purchased $108,000 of 6% bonds on May 1 at par value. The bonds pay interest on March 1 and September 1 The amount of interest accrued on December 31 the company's year-end would be Multiple Choice $3.240 $5,400 $1080 о $2,700 $2,160 Next > 15 of 36 1 < Prev SAMSUNG ere to search
Saved Help Save & Exit Submit On January 1, 2021, a company issues $750,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $750,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a...
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the issuance of the bond is: Multiple Choice C Debit Cash $228,930; credit Bonds Payable $228,930 Debit Cash $228,930; credit Premium on Bonds Payable $8,930...
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