Brief Exercise 10-09 Ivanhoe Company issues $265,000, 20 year, 10% bonds at 103. Prepare the journal...

Question

Question

Brief Exercise 10-09 Ivanhoe Company issues $265,000, 20 year, 10% bonds at 103. Prepare the journal entry to record the sale

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Issue of bonds at premium face value of bonds = 6265000 Issue at $103 o Proceeds will be $265000 x 1063 $272950. Puremium - 7

Add a comment

Answer 2

Similar Homework Help Questions

Brief Exercise 10-09 Ivanhoe Company issues $265,000, 20 year, 10% bonds at 103. Prepare the journal...

Brief Exercise 10-09 Ivanhoe Company issues $265,000, 20 year, 10% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bonds Payable Premium on Bonds Payable Click if you would like to show Work for this questioni One Show Work
Ivanhoe Company issues $265,000. 20-year, 10% bonds at 103. Prepare the journal entry to record the...

Ivanhoe Company issues $265,000. 20-year, 10% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry...

Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Concord Corporation issued 2,700 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid...

Brief Exercise 10-08 Teal Mountain Inc. issues $259,000, 10-year, 8% bonds at 99. Prepare the journal...

Brief Exercise 10-08 Teal Mountain Inc. issues $259,000, 10-year, 8% bonds at 99. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work
Oriole Company issues $270,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the...

Oriole Company issues $270,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash Bonds Payable 270,000 Premium on Bonds Payable
Exercise 15-15 a-d Ivanhoe Company issued $430,000, 9%, 20-year bonds on January 1, 2020, at 102....

Exercise 15-15 a-d Ivanhoe Company issued $430,000, 9%, 20-year bonds on January 1, 2020, at 102. Interest is payable annually on January 1. Ivanhoe uses straight-line amortization for bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 438600 Bonds Payable 430000 Premium on Bonds Payable 8600 SHOW LIST OF...

Question 13 Crane Company issues $210,000, 20-year, 9% bonds.at 104. Prepare the journal entry to record...

Question 13 Crane Company issues $210,000, 20-year, 9% bonds.at 104. Prepare the journal entry to record the sale of these bonds on June 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Click if you would like to show Work for this questioni Open Show Work
Sheridan Company issues $280,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the...

Sheridan Company issues $280,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
Kingbird, Inc. issues $5.2 million, 10-year, 9% bonds at 103, with interest payable on January 1....

Kingbird, Inc. issues $5.2 million, 10-year, 9% bonds at 103, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming...

Brief Exercise 10-20 Metlock, Inc. issues $2.10 million, 5-year, 11% bonds at 104, with interest payable...

Brief Exercise 10-20 Metlock, Inc. issues $2.10 million, 5-year, 11% bonds at 104, with interest payable annually January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS Prepare the adjusting journal entry to record interest expense and...

Brief Exercise 10-09 Ivanhoe Company issues $265,000, 20 year, 10% bonds at 103. Prepare the journal...

Homework Answers