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Multiple Choice Question 221 On January 1, Riverbed Corp issues $3360000, 5-year, 12% bonds at 97...
On January 1, Martinez Corp. issues $2640000, 5-year, 12% bonds at 98 with interest payable on...
On January 1, Martinez Corp. issues $2640000, 5-year, 12% bonds at 98 with interest payable on January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line method will include a debit to Interest Expense, $158400. credit to Discount on Bonds Payable, $10560. credit to Discount on Bonds Payable, $5280. debit to Interest Expense, $316800.
Cheyenne Corp. issues (in euros) €3.10 million, 10-year, 6% bonds at 97, with interest payable annually...
Cheyenne Corp. issues (in euros) €3.10 million, 10-year, 6% bonds at 97, with interest payable annually on January 1. Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Submit Answer
On January 1, a company issues bonds dated January 1 with a par value of $220,000....
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9% and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the first interest payment using the effective interest method of amortization is (Rounded to the nearest dollar.) Multiple Choice Debt Bond Interest Expense 39157, de...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. Th...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $288.413. The journal entry to record the first interest payment using the effective interest method of amortization is: Multiple Choice Debit interest Payable $13.500 cred Cash $13,500 O Debit interest Expense...
On January 1, a company issues bonds dated January 1 with a par value of $450,000....
On January 1, a company issues bonds dated January 1 with a par value of $450,000. The bonds mature in 5 years. The contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The market rate is 11% and the bonds are sold for $433,026. The journal entry to record the second interest payment using the effective interest method of amortization is: Multiple Choice O Debit Interest Expense $21,183.57; debit Premium on Bonds Payable $1,316.43;...
Question 2 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of...
Question 2 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $590,000 and a coupon interest rate of 6%, with interest payable semi-annually. (a) Prepare a partial bond amortization table for the first two interest payments assuming that interest is paid on July 1 and January 1 and that the bonds sold when the market interest rate was 5%. (Round answers to o decimal places, e.g. 5,255.) CARVEL CORP. Bond Premium Amortization On January 1,...
On January 1, a company issues bonds dated January 1 with a par value of $320,000....
On January 1, a company issues bonds dated January 1 with a par value of $320,000. The bonds mature in 5 years. The contract rate is 7% , and interest is paid semiannually on June 30 and December 31. The market rate is 6 % and the bonds are sold for $333,650. The journal entry to record the first interest payment using the effective interest method of amortization is: (Rounded to the nearest dollar.) Multiple Choice Debit Bond Interest Expense...
On January 1, a company issues bonds dated January 1 with a par value of $650,000....
On January 1, a company issues bonds dated January 1 with a par value of $650,000. The bonds mature in 3 years. The contract rate is 6%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $626,000. The journal entry to record the first interest payment using straight-line amortization is: Multiple Choice Debit Interest Payable $19,500; credit Cash $19,500. 0 Debit Interest Expense $19,500; credit Cash $19,500. 0 Debit Interest Expense $23,500, credit...
Multiple choice Question 155 A corporation issues $336000, 5 year bonds on January 1, 2020, for...
Multiple choice Question 155 A corporation issues $336000, 5 year bonds on January 1, 2020, for $350100. Interest is paid annually on January 1. amount of bond interest expense to be recognised in December 31, 2020's adjusting entry is the corporation uses the straight-ine method of amortization of bond premium, the O $29700 $24060 52520 526830 Question Aloft und E A SE
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000....
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $2.719,298. The bond issuance should be recorded as: Multiple Choice O Debit Cash $2,719,298, debit interest Expense $180,702, credit Bonds Payable $2,900,000 O O Debit Cash $2,900,000; credit Bonds Payable $2.719.298, credit Discount on Bonds Payable $180,702 O o Debit Cash $2,900,000 credit Bonds Payable $2,900,000....
Cheyenne Corp. issues (in euros) €3.10 million, 10-year, 6% bonds at 97, with interest payable annually on January 1. Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Submit Answer
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9% and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the first interest payment using the effective interest method of amortization is (Rounded to the nearest dollar.) Multiple Choice Debt Bond Interest Expense 39157, de...
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $288.413. The journal entry to record the first interest payment using the effective interest method of amortization is: Multiple Choice Debit interest Payable $13.500 cred Cash $13,500 O Debit interest Expense...
On January 1, a company issues bonds dated January 1 with a par value of $450,000. The bonds mature in 5 years. The contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The market rate is 11% and the bonds are sold for $433,026. The journal entry to record the second interest payment using the effective interest method of amortization is: Multiple Choice O Debit Interest Expense $21,183.57; debit Premium on Bonds Payable $1,316.43;...
Question 2 On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $590,000 and a coupon interest rate of 6%, with interest payable semi-annually. (a) Prepare a partial bond amortization table for the first two interest payments assuming that interest is paid on July 1 and January 1 and that the bonds sold when the market interest rate was 5%. (Round answers to o decimal places, e.g. 5,255.) CARVEL CORP. Bond Premium Amortization On January 1,...
On January 1, a company issues bonds dated January 1 with a par value of $320,000. The bonds mature in 5 years. The contract rate is 7% , and interest is paid semiannually on June 30 and December 31. The market rate is 6 % and the bonds are sold for $333,650. The journal entry to record the first interest payment using the effective interest method of amortization is: (Rounded to the nearest dollar.) Multiple Choice Debit Bond Interest Expense...
On January 1, a company issues bonds dated January 1 with a par value of $650,000. The bonds mature in 3 years. The contract rate is 6%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $626,000. The journal entry to record the first interest payment using straight-line amortization is: Multiple Choice Debit Interest Payable $19,500; credit Cash $19,500. 0 Debit Interest Expense $19,500; credit Cash $19,500. 0 Debit Interest Expense $23,500, credit...
Multiple choice Question 155 A corporation issues $336000, 5 year bonds on January 1, 2020, for $350100. Interest is paid annually on January 1. amount of bond interest expense to be recognised in December 31, 2020's adjusting entry is the corporation uses the straight-ine method of amortization of bond premium, the O $29700 $24060 52520 526830 Question Aloft und E A SE
On January 1, Parson Freight Company issues 9.0%, 10-year bonds with a par value of $2,900,000. The bonds pay interest semiannually. The market rate of interest is 10.0% and the bond selling price was $2.719,298. The bond issuance should be recorded as: Multiple Choice O Debit Cash $2,719,298, debit interest Expense $180,702, credit Bonds Payable $2,900,000 O O Debit Cash $2,900,000; credit Bonds Payable $2.719.298, credit Discount on Bonds Payable $180,702 O o Debit Cash $2,900,000 credit Bonds Payable $2,900,000....
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