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Help Save & Sub On June 30, 2021, Moran Corporation issued $13.5 million of its 8%...
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million....
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million. The bonds were priced to yield 12%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? Multiple Choice $37,000. $43,500. oooo $35,500. $26,000.
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million...
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million of its 8% bonds for $14 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2021? Saved Help Save & EX Multiple Choice O $600,000 O $700,000 0 $750,000 o $620,000
on june 30,2018 hardy corporation issued $12.0 million of its 8% bonds for $10.8 million. The...
on june 30,2018 hardy corporation issued $12.0 million of its 8% bonds for $10.8 million. The bonds were priced to yield 10%. the bonds are dated june 30,2018. interest is payable semiannually on december 31st an july 1. if the effective interest method is used, by how much should the bond discount be reduced for six month For the six months ended december 31,2018.
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $370 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $314,955,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? On June...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10%...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10% bonds, dated January 1, 2021, with a face amount of $20.4 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31 Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021,...
On January 1, 2021, Rapid Airlines issued $240 million of its 8% bonds for $221 million....
On January 1, 2021, Rapid Airlines issued $240 million of its 8% bonds for $221 million. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $229 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On January 1, 2021, Rapid Airlines issued $210 million of its 8% bonds for $193 million....
On January 1, 2021, Rapid Airlines issued $210 million of its 8% bonds for $193 million. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $198 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On January 1, 2021, Rapid Airlines issued $295 million of its 6% bonds for $271 million....
On January 1, 2021, Rapid Airlines issued $295 million of its 6% bonds for $271 million. The bonds were priced to yield 8%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $285 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On January 1, 2021, Rapid Airlines issued $260 million of its 10% bonds for $240 million....
On January 1, 2021, Rapid Airlines issued $260 million of its 10% bonds for $240 million. The bonds were priced to yield 12%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $249 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On January 1, 2021, Rapid Airlines issued $205 million of its 6% bonds for $188 million....
On January 1, 2021, Rapid Airlines issued $205 million of its 6% bonds for $188 million. The bonds were priced to yield 8%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $194 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million. The bonds were priced to yield 12%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? Multiple Choice $37,000. $43,500. oooo $35,500. $26,000.
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million of its 8% bonds for $14 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2021? Saved Help Save & EX Multiple Choice O $600,000 O $700,000 0 $750,000 o $620,000
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $370 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $314,955,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? On June...
Help Save & alt Sub On January 1, 2021, for $18.4 million, Cenotaph Company purchased 10% bonds, dated January 1, 2021, with a face amount of $20.4 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31 Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021,...
On January 1, 2021, Rapid Airlines issued $210 million of its 8% bonds for $193 million. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $198 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
On January 1, 2021, Rapid Airlines issued $260 million of its 10% bonds for $240 million. The bonds were priced to yield 12%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $249 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000...
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