Five thousand bonds with a face value of $1000 each, are sold at 86. The entry...
Five thousand bonds with a face value of $1000 each, are sold at 86. The entry to record the issuance is
| Cash | 4300000 | |
| Discount on Bonds Payable | 700000 | |
| Bonds Payable | 5000000 |
| Cash | 4300000 | |
| Premium on Bonds Payable | 700000 | |
| Bonds Payable | 5000000 |
| Cash | 4300000 | |
| Bonds Payable | 4300000 |
| Cash | 5000000 | |
| Discount on Bonds Payable | 700000 | |
| Bonds Payable | 4300000 |
Homework Answers
Add Answer to:
Five thousand bonds with a face value of $1000 each, are sold at
86. The entry...
. Calculate how much Markway is able to borrow if each bond is sold at a...
. Calculate how much Markway is able to borrow if each bond is sold at a premium of $30. $ 2. Calculate how much Markway is able to borrow if each bond is sold at a discount of $10. $ 3. Calculate how much Markway is able to borrow if each bond is sold at 92% of par. $ 4. Calculate how much Markway is able to borrow if each bond is sold at 103% of par. $ Feedback 1...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,510,000...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,510,000 and a coupon rate of 9 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,580,000...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,580,000 and a coupon rate of 8 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the...
On January 31, 018, Driftwood Logistics, Inc., issued five-year, 2% bonds payable with a face value...
On January 31, 018, Driftwood Logistics, Inc., issued five-year, 2% bonds payable with a face value of $11,000,000. The bonds were issued at 94 and pay interest on January 31 and July 31. Driftwood Logistics amortizes bond discounts using the straight-line method.Read the requirement a. Record the issuance of the bond payable on January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Jan 31 Cash Discount on Bonds...
On October 1, 20XX, Bartley Corporation issued 5%, 10-year bonds with a face value of $500,000...
On October 1, 20XX, Bartley Corporation issued 5%, 10-year bonds with a face value of $500,000 at $520,000. The entry to record the issuance of the bonds would include a credit of $20,000 to Premium on Bonds Payable credit of $520,000 to Bonds Payable debit of $20,000 to Discount on Bonds Payable credit of $480,000 to Bonds Payable
On October 1, 2015, Bartleby Corp. issued 5%, 10-year bonds with a face value of $3,000,000...
On October 1, 2015, Bartleby Corp. issued 5%, 10-year bonds with a face value of $3,000,000 at 104%. On October 1 and April 1, interest is paid. Any premiums or discounts are amortized on a straight-line basis. Which of the following will you include in your entry to record the issuance of the bonds? On October 1, 2015, Bartleby Corp. issued 5%, 10-year bonds with a face value of $3,000,000 at 104%. On October 1 and April 1, interest is...
Vasily Inc. sold 20-year bonds on January 1, 2016. The face value of the bonds was...
Vasily Inc. sold 20-year bonds on January 1, 2016. The face value of the bonds was $100,000, and they carry a 9% stated rate of interest, which is paid on December 31 of every year. Vasily received $94,950 in return for the issuance of the bonds when the market rate was 10%. Any premium or discount is amortized using the effective interest method. Required: 1. Prepare the journal entry to record the sale of the bonds on January 1, 2016....
Exercise 9-48 (Algorithmic) Bond Premium and Discount Markway Inc. is contemplating selling bonds. The issue is...
Exercise 9-48 (Algorithmic)
Bond Premium and Discount
Markway Inc. is contemplating selling bonds. The issue is to be
composed of 750 bonds, each with a face amount of $800.
1. Calculate how much Markway is able to borrow
if each bond is sold at a premium of $30.
$
2. Calculate how much Markway is able to borrow
if each bond is sold at a discount of $10.
$
3. Calculate how much Markway is able to borrow
if each...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,450,000 and a coupon rate of/ percent....
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,450,000 and a coupon rate of/ percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables...
Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of...
Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 4 percent (FV of $1, PV of S1,...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,510,000 and a coupon rate of 9 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,580,000 and a coupon rate of 8 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the...
On January 1 of this year, Victor Corporation sold bonds with a face value of $1,450,000 and a coupon rate of/ percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 6 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables...
Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 4 percent (FV of $1, PV of S1,...
Most questions answered within 3 hours.
-
Ball B, moving in the positive direction of an
x axis at speed v, collides with...
asked 1 minute ago -
Describe the results and write a suitable figure legend for this
table of data.
Pre-Treatment (i.v.)...
asked 5 minutes ago -
A gas is contained in a vertical piston–cylinder assembly by a
piston with a face area...
asked 11 minutes ago -
Although rotational molding is not considered to achieve
competitive dimensional tolerance and material properties when
compared...
asked 13 minutes ago -
haga una grafica de distancia recorrida vs Angulo de
lanzamiento
asked 24 minutes ago -
The Horizon Company will invest $60,000 in a temporary project
that will generate the following cash...
asked 28 minutes ago -
Nitrogen and hydrogen combine at a high temperature, in the
presence of a catalyst, to produce...
asked 28 minutes ago -
Copper has atomic mass 64 and density 8.95 grams per cubic
centimeter. What is the diameter...
asked 28 minutes ago -
Draw the chemical structure of 10 alkyl groups starting from methyl
(1 carbon) to decyl (10...
asked 30 minutes ago -
Let E be the event that a randomly chosen person exercises. Let
D be the event...
asked 57 minutes ago -
Using java .Write a program to determine whether a given
unweighted undirected graph G contains a...
asked 53 minutes ago -
Question Details
machine Purchased for $50000 and has a useful life of 3 years. Find
its...
asked 55 minutes ago