Homework Answers
| DATE | GENERAL JOURNAL | DEBIT ($) | CREDIT ($) |
| Jan. 01 | Cash [430,000 * 114.5% = 492,350] | 492,350.00 | |
| Bond Payable | 430,000.00 | ||
| Premium on bonds payable | 62,350.00 | ||
| (To record issuance of bond) |
Add Answer to:
Garcia Company issues 10.5%, 15-year bonds with a par value of $430,000 and semiannual interest payments....
Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments....
Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $350,000. Note: Enter debits before credits. General Journal Debit Credit Date Jan...
QS 10-6 Journalizing premium bond issuance LO P3 Garcia Company issues 10.0%, 15-year bonds with a...
QS 10-6 Journalizing premium bond issuance LO P3 Garcia Company issues 10.0%, 15-year bonds with a par value of $420,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.0%, which implies a selling price of 115. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet < 1 > Record the issue of bonds with a par value of $420,000 at...
Garcia Company issues 10.0%, 15-year bonds with a par value of $330,000 and semiannual interest payments....
Garcia Company issues 10.0%, 15-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.0%, which implies a selling price of 119 1/2. Prepare the journal entry for the issuance of these bonds for cash on January 1.
Enviro Company issues 8%, 10-year bonds with a par value of $260,000 and semiannual interest payments....
Enviro Company issues 8%, 10-year bonds with a par value of $260,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 12. The straight-line method is used to allocate interest expense. 1. Using the implied selling price of 87 %, what are the issuer's cash proceeds from issuance of these bonds? 2. What total amount of bond interest expense will be recognized over the life...
Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2016. Garcia Company issues 9.00%, 15-year bonds with a par value of $310,000 and semiannu...
Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2016. Garcia Company issues 9.00%, 15-year bonds with a par value of $310,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 7.00%, which implies a selling price of 118 2/5. Record the issue of bonds with a par value of $310,000. Note: Enter debits before credits. Date General Journal Debit Credit Jan...
Chapter 10 Homework A X X Garcia Company W Garcia Company issues T5 es 10 x...
Chapter 10 Homework A X X Garcia Company W Garcia Company issues T5 es 10 x Course Modules: Principles of A etmeducation.com/flow/connecthtml Apps Academic Transcript mework Assignment Garcia Company issues 115%, 15 year bonds with a par value of $270,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.5% which implies a selling price of 115 3/4 Prepare the journal entry for the issuance of these bonds for cash on January 1...
Garcia Company issues 12.50%, 15-year bonds with a par value of $470,000 and semiannual interest payments....
Garcia Company issues 12.50%, 15-year bonds with a par value of $470,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 16.50%, which implies a selling price of 81. The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 81, what are the issuer's cash proceeds from issuance of these bonds? 2. What total amount of bond interest expense will be recognized over the life of...
Garcia Company issues 10.50%, 15-year bonds with a par value of $250,000 and semiannual interest payments....
Garcia Company issues 10.50%, 15-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 14.50%, which implies a selling price of 75 1/2. The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 75 1/2, what are the issuer's cash proceeds from issuance of these bonds. Cash proceeds 2. What total amount of bond Interest expense will be recognized...
Garcia Company issues 10%, 15-year bonds with a par value of $230,000 and semiannual interest payments....
Garcia Company issues 10%, 15-year bonds with a par value of $230,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 14, The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 117 14, what are the issuer's cash proceeds from issuance of these bonds. Cash proceeds 2. What total amount of bond interest expense will be recognized...
QS 14-4 Journalizing bond issuance LO P1 Prepare the journal entry for the issuance of these...
QS 14-4 Journalizing bond issuance LO P1 Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017 Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.50%, which implies a selling price of 116 1/4 View transaction list View journal entry worksheet Debit Credit No 1 Date Jan 01, 2017...
Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $350,000. Note: Enter debits before credits. General Journal Debit Credit Date Jan...
QS 10-6 Journalizing premium bond issuance LO P3 Garcia Company issues 10.0%, 15-year bonds with a par value of $420,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8.0%, which implies a selling price of 115. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet < 1 > Record the issue of bonds with a par value of $420,000 at...
Enviro Company issues 8%, 10-year bonds with a par value of $260,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 12. The straight-line method is used to allocate interest expense. 1. Using the implied selling price of 87 %, what are the issuer's cash proceeds from issuance of these bonds? 2. What total amount of bond interest expense will be recognized over the life...
Chapter 10 Homework A X X Garcia Company W Garcia Company issues T5 es 10 x Course Modules: Principles of A etmeducation.com/flow/connecthtml Apps Academic Transcript mework Assignment Garcia Company issues 115%, 15 year bonds with a par value of $270,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.5% which implies a selling price of 115 3/4 Prepare the journal entry for the issuance of these bonds for cash on January 1...
Garcia Company issues 10.50%, 15-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 14.50%, which implies a selling price of 75 1/2. The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 75 1/2, what are the issuer's cash proceeds from issuance of these bonds. Cash proceeds 2. What total amount of bond Interest expense will be recognized...
Garcia Company issues 10%, 15-year bonds with a par value of $230,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 117 14, The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 117 14, what are the issuer's cash proceeds from issuance of these bonds. Cash proceeds 2. What total amount of bond interest expense will be recognized...
QS 14-4 Journalizing bond issuance LO P1 Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017 Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.50%, which implies a selling price of 116 1/4 View transaction list View journal entry worksheet Debit Credit No 1 Date Jan 01, 2017...
Most questions answered within 3 hours.
-
The rise of online shopping and Amazon, in particular, has
created major dilemmas for large food/CPG...
asked 10 minutes ago -
Assuming that the wave speed varies little when sound waves are
traveling through a material that...
asked 10 minutes ago -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 21 minutes ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 18 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 20 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 31 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 41 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 41 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 51 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 52 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 55 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 58 minutes ago