Homework Answers
Answer is option C
C. secured, serial, callable, bearer bonds
As collateral is provided to issue bonds these bonds are secured bonds.
As this bonds can be redeemed prior to maturity, they are callable or redeemable bonds
As this bonds are not registered, they are bearer notes. They are not registered to a holder.
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6. Chester Corp issues $10,000 of 5 year bonds that pay interest semiannually. The bonds can...
PROBLEM Builders Corp issues $200,000 of its 10%, five-year bonds that pay interest semiannually when the...
PROBLEM Builders Corp issues $200,000 of its 10%, five-year bonds that pay interest semiannually when the market rate is 10% on January 1, 2017 Required: 1 Journalize the issuance of the bond. Date Accounts and Explanation 2. Journalize Builders Corp's first semiannual interest payment. Date Accounts and Explanation Debit Credit Carrying Amount 3. Complete Builders Corp's Bonds Payable Amortization Schedule below. Cash Interest Discount/Premium Paid Expense Amortized 01/01/2017 06/30/2017 12/31/2017 $200,000 2 Page
PROBLEM 3: Builders Corp issues $200,000 of its 9%, five-year bonds that pay interest semiannually when...
PROBLEM 3: Builders Corp issues $200,000 of its 9%, five-year bonds that pay interest semiannually when the market rate is 10% on January 1, 2017. The market price of the Bond is $192,298 Required: 1 Journalize the issuance of the bond. Date Accounts and Explanation 2. Journalize Builders Corp's first semiannual interest payment. Date Accounts and Explanation Debit Credit 3. Complete Builders Corp's Bonds Payable-Discount Amortization Schedule below. Cash Interest Discount Carrying Amount Paid Expense Amortized 01/01/2017 06/30/2017 12/31/2017 3...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2d For each semiannual period, complete the table below to calculate the cash payment. 2( For each semiannual period, complete the table below to calculate the straight-line discount amortization. 20 For each semiannual period, complete...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $1,814,635. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization 2(c) For each semiannual period, complete the...
Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2017, that pay interest semiannually on...
Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $4,895,980. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds’ issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,814,635. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1,
2019, that pay interest semiannually on June 30 and December 31.
The bonds are issued at a price of $1,728,224.
Required:
1. Prepare the January 1 journal entry to record
the bonds’ issuance.
2(a) For each semiannual period, complete the
table below to calculate the cash payment.
2(b) For each semiannual period, complete the
table below to calculate the straight-line discount
amortization.
2(c) For each semiannual period, complete the
table...
10-3 Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually...
10-3 Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,570,390. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds’ issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete...
Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on...
Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,641,812. Required: 1. Prepare the January 1, 2015, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,900,000 cash on January 1, 2015 at an issue price of $1,641,812. Note: Enter debits before credits. Date General Journal...
Hillside issues $3,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on...
Hillside issues $3,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,671,990. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 21b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the table...
PROBLEM Builders Corp issues $200,000 of its 10%, five-year bonds that pay interest semiannually when the market rate is 10% on January 1, 2017 Required: 1 Journalize the issuance of the bond. Date Accounts and Explanation 2. Journalize Builders Corp's first semiannual interest payment. Date Accounts and Explanation Debit Credit Carrying Amount 3. Complete Builders Corp's Bonds Payable Amortization Schedule below. Cash Interest Discount/Premium Paid Expense Amortized 01/01/2017 06/30/2017 12/31/2017 $200,000 2 Page
PROBLEM 3: Builders Corp issues $200,000 of its 9%, five-year bonds that pay interest semiannually when the market rate is 10% on January 1, 2017. The market price of the Bond is $192,298 Required: 1 Journalize the issuance of the bond. Date Accounts and Explanation 2. Journalize Builders Corp's first semiannual interest payment. Date Accounts and Explanation Debit Credit 3. Complete Builders Corp's Bonds Payable-Discount Amortization Schedule below. Cash Interest Discount Carrying Amount Paid Expense Amortized 01/01/2017 06/30/2017 12/31/2017 3...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2d For each semiannual period, complete the table below to calculate the cash payment. 2( For each semiannual period, complete the table below to calculate the straight-line discount amortization. 20 For each semiannual period, complete...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $1,814,635. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization 2(c) For each semiannual period, complete the...
Hillside issues $2,100,000 of 5%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,814,635. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the...
Hillside issues $2,000,000 of 6%, 15-year bonds dated January 1,
2019, that pay interest semiannually on June 30 and December 31.
The bonds are issued at a price of $1,728,224.
Required:
1. Prepare the January 1 journal entry to record
the bonds’ issuance.
2(a) For each semiannual period, complete the
table below to calculate the cash payment.
2(b) For each semiannual period, complete the
table below to calculate the straight-line discount
amortization.
2(c) For each semiannual period, complete the
table...
Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,641,812. Required: 1. Prepare the January 1, 2015, journal entry to record the bonds' issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $1,900,000 cash on January 1, 2015 at an issue price of $1,641,812. Note: Enter debits before credits. Date General Journal...
Hillside issues $3,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,671,990. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 21b) For each semiannual period, complete the table below to calculate the straight-line premium amortization. 2(c) For each semiannual period, complete the table...
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