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Homework Answers
| 1 |
| The journal entry to record issuance is: |
| DR Cash $750,000 CR Bonds payable $750,000 |
| 2 |
| Interest to be paid = 750000*5% = $37,500 |
| The journal entry to interest is: |
| DR Interest Expense $37,500 CR Cash $37,500 |
| 3 |
| The journal entry on maturity is: |
| DR Bonds Payable $750,000 CR Cash $750,000 |
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Question 3 1 pts...
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate...
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is [Select ] DR Bonds Payable $787,500 CR Cash $787,500 DR Bonds Payable $750,000 CR Cash $750,000 DR Cash $787,500 CR Bonds Payable $787,500 DR Cash $750,000 CR Bonds Payable $750,000 Assuming interest is paid annually on De Brest payments? [Select] What is the journal entry recorded when...
added photos of the multiple choice selections for each answer box below If bonds with a...
added photos of the multiple choice selections for each answer box
below
If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select ] What is the journal entry recorded when the bonds mature? [Select) If bonds with a face value of $750,000...
Question 2 1 pts Round answers to the nearest dollar and do not include $ sign. Bonds with a face value of $100,000 and...
Question 2 1 pts Round answers to the nearest dollar and do not include $ sign. Bonds with a face value of $100,000 and a quoted price of 99 are issued at $ Bonds with a face value of $500,000 and a quoted price of 101 are issued at $ Bonds with a face value of $300,000 and a quoted price of 100 are issued at $ Question 3 1 pts If bonds with a face value of $750,000 and...
First picture is the main question and the others are the answer choices. Question 1 1...
First picture is the main question and the others are the answer
choices.
Question 1 1 pts Your company issues bonds with a face value of $500,000. The stated rate is 4%, interest is paid semi- annually, and the bonds mature in 10 years. The bonds are issued with an effective yield of 4.125% The bonds are issued at a [Select] The bonds are sold for [Select] $500,000 How much is each semi-annual interest payment to bond holders? [Select] Question...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] Select] CR [Select] Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR [Select] CR [Select] Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DA [Select ] Common Stock $215.6m Preferred Stock...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
The first image is the original question and the following images are the answer choices for each box Question 4...
The first image is the original question and the following
images are the answer choices for each box
Question 4 1 pts Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the annual interest rate is 8%. The loan is for 7 months and matures on March 31st, 2020. The journal entry on September 1st, 2019 is a Debit to [Select] and a Credit [Select] Assuming a...
The City of Buffalo issued 300 bonds at their face value of $7,000 each plus accrued...
The City of Buffalo issued 300 bonds at their face value of $7,000 each plus accrued interest on June 1, 2020. The term of the bonds was January 1, 2020, to January 1, 2026, with interest payable semi-annually each January 1 and July 1 at 7%. Buffalo uses the effective interest method. Prepare the company’s journal entry for the date of issuance June 1, 2020 Dr. Cash Cr. Binds Payable Cr. Interest Expense Prepare the company’s journal entry...
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is [Select ] DR Bonds Payable $787,500 CR Cash $787,500 DR Bonds Payable $750,000 CR Cash $750,000 DR Cash $787,500 CR Bonds Payable $787,500 DR Cash $750,000 CR Bonds Payable $750,000 Assuming interest is paid annually on De Brest payments? [Select] What is the journal entry recorded when...
added photos of the multiple choice selections for each answer box
below
If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select ] What is the journal entry recorded when the bonds mature? [Select) If bonds with a face value of $750,000...
Question 2 1 pts Round answers to the nearest dollar and do not include $ sign. Bonds with a face value of $100,000 and a quoted price of 99 are issued at $ Bonds with a face value of $500,000 and a quoted price of 101 are issued at $ Bonds with a face value of $300,000 and a quoted price of 100 are issued at $ Question 3 1 pts If bonds with a face value of $750,000 and...
First picture is the main question and the others are the answer
choices.
Question 1 1 pts Your company issues bonds with a face value of $500,000. The stated rate is 4%, interest is paid semi- annually, and the bonds mature in 10 years. The bonds are issued with an effective yield of 4.125% The bonds are issued at a [Select] The bonds are sold for [Select] $500,000 How much is each semi-annual interest payment to bond holders? [Select] Question...
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the rest are the
answer choices for each box.
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] Select] CR [Select] Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal...
The first image is the original question, the rest are the
answer choices for each box.
Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR [Select] CR [Select] Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DA [Select ] Common Stock $215.6m Preferred Stock...
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
The first image is the original question and the following
images are the answer choices for each box
Question 4 1 pts Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the annual interest rate is 8%. The loan is for 7 months and matures on March 31st, 2020. The journal entry on September 1st, 2019 is a Debit to [Select] and a Credit [Select] Assuming a...
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