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Malay Corporation issued $2 million, 10-year, 6% bonds on January 1, 2017. Instructions Prepare the entry...
malay corporation issued $2 million , 10yr, 6% bonds on jan 1, 2017. prepare the emtry...
malay corporation issued $2 million , 10yr, 6% bonds on jan 1, 2017. prepare the emtry to record the sale of these bonds, assuming they were issued at 98, 103, 100?
Taylor Corporation issued $2 million, 10-year, 8% bonds on January 1, 2011. Instructions: Prepare the entries...
Taylor Corporation issued $2 million, 10-year, 8% bonds on January 1, 2011. Instructions: Prepare the entries to record the sale of these bonds and the first semi-annual payment of interest, assuming they were issued at the following. Use the effective interest method of amortization of the discount or premium. (a) 93.5, with an effective rate of 9%. (b) 107.1, with an effective rate of 7%.
E15-5 Swisher Company issued $2,000,000 of bonds on January 1, 2017. E15-5 Prepare entries for issuance,...
E15-5
Swisher Company issued $2,000,000 of bonds on January 1, 2017. E15-5 Prepare entries for issuance, redemption, and conversion of bonds Instructions re the journal entry to record the issuance of the bonds if they are issued at (1o 2) e the journal entry to record the redemption of the bonds at maturity, assuming ord the redemption of the bonds before maturity at 98. d Prepare the journal entry to record the conversion of the bonds into 60,000 shares of...
E10-10 Arroyo Company issued $600,000, 10-year, 6% bonds at 103. Instructions Prepare entries for issuance of...
E10-10 Arroyo Company issued $600,000, 10-year, 6% bonds at 103. Instructions Prepare entries for issuance of bonds, balance sheet presentation, and cause of deviations from face value.(a) Prepare the journal entry to record the sale of these bonds on January 1, 2017 (LO 3), AP (b) Suppose the remaining Premium on Bonds Payable was $10,800 on December3 2020. Show the balance sheet presentation on this date. Explain why the bonds sold at a price above the face amount. (c)
Hoffman Corporation issued $95 million of 5%, 10-year bonds at 102. Each of the 95,000 bonds...
Hoffman Corporation issued $95 million of 5%, 10-year bonds at 102. Each of the 95,000 bonds was issued with 12 detachable stock warrants, each of which entitled the bondholder to purchase, for $28, one share of $1 par common stock. At the time of sale, the market value of the common stock was $33 per share and the market value of each warrant was $5. Prepare the journal entry to record the issuance of the bonds.
On January 1, 2017, Nicks Corporation issued $250 million of floating-rate debt. The debt carries a...
On January 1, 2017, Nicks Corporation issued $250 million of
floating-rate debt. The debt carries a contractual interest rate of
“LIBOR plus 5.5%,” which is reset annually on January 1 of each
year. The LIBOR rates on January 1, 2017, 2018, and 2019, were
6.5%, 7.0%, and 5.5%, respectively.
Required:
Prepare a journal entry to record the issuance of the bonds on
January 1, 2017, at par. What was the effective (or market)
interest rate when the bonds were issued?...
5 % On January 1, 2017, Lock Corporation issued $1,800,000 face value, 1 10 -year bonds...
5 % On January 1, 2017, Lock Corporation issued $1,800,000 face value, 1 10 -year bonds at $1,667,518 This price resulted in an effective-interest rate of 6% on the bonds. Lock uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Instructions: (Round all computations to the nearest dollar.) (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2017. 01/01/14 Account title Account title Account title Amount...
On January 1, 2017, Nicks Corporation issued $250 million of floating-rate debt. The debt carries a...
On January 1, 2017, Nicks Corporation issued $250 million of floating-rate debt. The debt carries a contractual interest rate of “LIBOR plus 5.5%,” which is reset annually on January 1 of each year. The LIBOR rates on January 1, 2017, 2018, and 2019, were 6.5%, 7.0%, and 5.5%, respectively. Required: Prepare a journal entry to record the issuance of the bonds on January 1, 2017, at par. What was the effective (or market) interest rate when the bonds were issued?...
Pharoah Company issued $1,600,000 of bonds on January 1, 2020. Prepare the journal entry to record...
Pharoah Company issued $1,600,000 of bonds on January 1, 2020. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 102. (Credit account titles are automai No. Account Titles and Explanation Credit Debit (1) (2) (3) LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are au Account Titles and Explanation...
Prepare entries for bonds issued at a premium. (LO 5) *BE15-12 Golden Inc. issues $4 million,...
Prepare entries for bonds issued at a premium. (LO 5) *BE15-12 Golden Inc. issues $4 million, 5-year, 10% bonds at 102, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017 (b) Prepare the adjusting journal entry to record interest expense and bond premium amortization on December 31, 2017. nationes method
E15-5
Swisher Company issued $2,000,000 of bonds on January 1, 2017. E15-5 Prepare entries for issuance, redemption, and conversion of bonds Instructions re the journal entry to record the issuance of the bonds if they are issued at (1o 2) e the journal entry to record the redemption of the bonds at maturity, assuming ord the redemption of the bonds before maturity at 98. d Prepare the journal entry to record the conversion of the bonds into 60,000 shares of...
E10-10 Arroyo Company issued $600,000, 10-year, 6% bonds at 103. Instructions Prepare entries for issuance of bonds, balance sheet presentation, and cause of deviations from face value.(a) Prepare the journal entry to record the sale of these bonds on January 1, 2017 (LO 3), AP (b) Suppose the remaining Premium on Bonds Payable was $10,800 on December3 2020. Show the balance sheet presentation on this date. Explain why the bonds sold at a price above the face amount. (c)
On January 1, 2017, Nicks Corporation issued $250 million of
floating-rate debt. The debt carries a contractual interest rate of
“LIBOR plus 5.5%,” which is reset annually on January 1 of each
year. The LIBOR rates on January 1, 2017, 2018, and 2019, were
6.5%, 7.0%, and 5.5%, respectively.
Required:
Prepare a journal entry to record the issuance of the bonds on
January 1, 2017, at par. What was the effective (or market)
interest rate when the bonds were issued?...
5 % On January 1, 2017, Lock Corporation issued $1,800,000 face value, 1 10 -year bonds at $1,667,518 This price resulted in an effective-interest rate of 6% on the bonds. Lock uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Instructions: (Round all computations to the nearest dollar.) (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2017. 01/01/14 Account title Account title Account title Amount...
Pharoah Company issued $1,600,000 of bonds on January 1, 2020. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 102. (Credit account titles are automai No. Account Titles and Explanation Credit Debit (1) (2) (3) LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are au Account Titles and Explanation...
Prepare entries for bonds issued at a premium. (LO 5) *BE15-12 Golden Inc. issues $4 million, 5-year, 10% bonds at 102, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017 (b) Prepare the adjusting journal entry to record interest expense and bond premium amortization on December 31, 2017. nationes method
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