Bond interest is paying semiannually so one bond payment has been made on June 30,
Interest expense for dec 31 =87000*6%/2 =2610
On January 1 of the current year, Barton Corporation issued 6% bonds with a face value...
On January 1 of the current year, Barton Corporation issued 8% bonds with a face value of $103,000. The bonds are sold for $97,850. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is a.$9,785 b.$515 c.$9,270 d.$4,120
On January 1 of the current year, the Barton Corporation issued 10% bonds with a face value of $79,000. The bonds are sold for $76,630. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is a.$7,900 b.$8,374 c.$658 d.$2,370
Calculator On January 1, Elias Corporation issued 12 % bonds with a face value of $52,000. The bonds are sold for $50,440. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is a. $6,396 Ob. $1,560 Oc. $6,240 Od. $520
On January 1 of the current year, the Queen Corporation issued 12% bonds with a face value of $57,000. The bonds are sold for $55,290. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Queen records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31. Select the correct answer. $7,182 $570 $6,840 $1,710
On January 1, Elias Corporation issued 9% bonds with a face value of $63,000. The bonds are sold for $61,110. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is
please help On January 1, Elias Corporation issued 10% bonds with a face value of $62,000. The bonds are sold for $60,140. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is a. $6,200 b. $ 6,386 c. $517 d. $1,860
On January 1, Elias Corporation issued 6% bonds with a face value of $94,000. The bonds are sold for $91,180. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is a. $470 b. $2,820 c. $5,640 d. $5,922 Bonds Payable has a balance of $946,000...
On January 1, 2018, Professors Credit Union (PCU) issued 7%, 20-year bonds payable with face value of $100,000. The bonds pay interest on June 30 and December 31. Read the requirements. Requirement 1. If the market interest rate is 5% when PCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 7% bonds issued when the market interest rate is 5% will be priced at 7. They are in...
On January 1, 2018, Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face value of $600,000. The bonds pay interest on June 30 and December 31. Read the requirements. Requirement 1. If the market interest rate is 7% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 8% bonds issued when the market interest rate is 7% will be priced at V. They are in...
Pennington Corporation issued 5-year, 8.6% bonds with a total face value of $700,000 on January 1, 2021, for $680,000. The bonds pay interest on June 30 and December 31 of each year. Required: 1. Prepare an amortization table. 2. Prepare the entries to recognize the bond issuance and the interest payments made on June 30, 2021, and December 31, 2021.