Homework Answers
Correct answer , Gain of $6937
Detail entry for your refrence
| Account Tittle | Debit | Credit |
| Bond Payable | $74,937.00 | |
| Gain on Retirement on Bond | $6,937.00 | |
| Cash | $68,000.00 |
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Question 30 2 pts Pizza Pier retires its 7% bonds for $68,000 before their scheduled maturity....
Pizza Pier retires its 7% bonds for $70,600 before their scheduled maturity. At the time, the...
Pizza Pier retires its 7% bonds for $70,600 before their scheduled maturity. At the time, the bonds have a face value of $72,600 carrying value of $74,940. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Pizza Pier retires its 7% bonds for $71,000 before their scheduled maturity. At the time, the...
Pizza Pier retires its 7% bonds for $71,000 before their scheduled maturity. At the time, the bonds have a face value of $73,000 carrying value of $74,965. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the early retirement of bonds. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry...
Pizza Pier retires its 6% bonds for $70,800 before their scheduled maturity. At the time, the...
Pizza Pier retires its 6% bonds for $70,800 before their scheduled maturity. At the time, the bonds have a face value of $72,800 carrying value of $74,985. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the early retirement of the bonds. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry...
Pizza Pier retires its 8% bonds for $70,300 before their scheduled maturity. At the time, the...
Pizza Pier retires its 8% bonds for $70,300 before their
scheduled maturity. At the time, the bonds have a face value of
$72,300 carrying value of $74,950.
Record the early retirement of the bonds. (If no entry is
required for a particular transaction/event, select "No Journal
Entry Required" in the first account field.)
Record the early retirement of the bonds.
2,
Stealth Fitness Center issues 5%, 6-year bonds with a face
amount of $100,000. The market interest rate for bonds...
Use the following information to answer questions 54-59: Pizza Pier issues 7%, 10-year bonds with a...
Use the following information to answer questions 54-59: Pizza Pier issues 7%, 10-year bonds with a face amount of $80,000 on January 1, 2018. Interest is paid semiannually on June 30 and December 31. Round amounts to the nearest whole dollar. 54. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018. 55. Record the first interest payment on June 30, 2018...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million. the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place(i.e. should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of...
Philosophy Insights Corporation retires its $500,000 face-value bonds at 102 on January 1, after interest is...
Philosophy Insights Corporation retires its $500,000 face-value bonds at 102 on January 1, after interest is paid. The bonds’ carrying value at the date of retirement is $481,250. What should the entry to record the redemption include? $10,000 debit to premium on bonds payable $18,750 credit to discount on bonds payable $18,750 credit to loss on bond redemption $28,750 debit to gain on bond redemption
QUESTION 4 "Bonita Industries retires its 5400000 face value bonds at 102 on January 1, following...
QUESTION 4 "Bonita Industries retires its 5400000 face value bonds at 102 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $385000. The entry to record the redemption will include a debit of 58000 to Premium on Bonds Payable. credit of $15000 to Loss on Bond Redemption credit of $15000 to Discount on Bonds Payable. debit of $23000 to Gain on Bond Redemption,
The 8% bonds payable of Sunland Company had a net carrying amount of $3010000 on December...
The 8% bonds payable of Sunland Company had a net carrying
amount of $3010000 on December 31, 2017. The bonds, which had a
face value of $3160000, were issued at a discount to yield 10%. The
amortization of the bond discount was recorded under the
effective-interest method. Interest was paid on January 1 and July
1 of each year. On July 2, 2018, several years before their
maturity, Sunland retired the bonds at 102. The interest payment on
July 1,...
2. (P14-13) The 10% bonds payable of Nico had a net carrying amount of $1,140,000 on...
2. (P14-13) The 10% bonds payable of Nico had a net carrying amount of $1,140,000 on December 31, 2017. The bonds, which had a face value of $1,200,000, were issued at a discount to yield 12%. Amortization was recorded under the effective-interest method. Interest was paid on January 1 and July 1 of each year. The interest payment on July 1, 2018 was made as scheduled in the morning. Later that day, several years before their maturity, Nico retired the...
Pizza Pier retires its 7% bonds for $71,000 before their scheduled maturity. At the time, the bonds have a face value of $73,000 carrying value of $74,965. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the early retirement of bonds. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry...
Pizza Pier retires its 6% bonds for $70,800 before their scheduled maturity. At the time, the bonds have a face value of $72,800 carrying value of $74,985. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the early retirement of the bonds. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry...
Pizza Pier retires its 8% bonds for $70,300 before their
scheduled maturity. At the time, the bonds have a face value of
$72,300 carrying value of $74,950.
Record the early retirement of the bonds. (If no entry is
required for a particular transaction/event, select "No Journal
Entry Required" in the first account field.)
Record the early retirement of the bonds.
2,
Stealth Fitness Center issues 5%, 6-year bonds with a face
amount of $100,000. The market interest rate for bonds...
Use the following information to answer questions 54-59: Pizza Pier issues 7%, 10-year bonds with a face amount of $80,000 on January 1, 2018. Interest is paid semiannually on June 30 and December 31. Round amounts to the nearest whole dollar. 54. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018. 55. Record the first interest payment on June 30, 2018...
Acompanyret ed $85million of its 5% bonds at 104 $88.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million. the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place(i.e. should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of...
QUESTION 4 "Bonita Industries retires its 5400000 face value bonds at 102 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $385000. The entry to record the redemption will include a debit of 58000 to Premium on Bonds Payable. credit of $15000 to Loss on Bond Redemption credit of $15000 to Discount on Bonds Payable. debit of $23000 to Gain on Bond Redemption,
The 8% bonds payable of Sunland Company had a net carrying
amount of $3010000 on December 31, 2017. The bonds, which had a
face value of $3160000, were issued at a discount to yield 10%. The
amortization of the bond discount was recorded under the
effective-interest method. Interest was paid on January 1 and July
1 of each year. On July 2, 2018, several years before their
maturity, Sunland retired the bonds at 102. The interest payment on
July 1,...
2. (P14-13) The 10% bonds payable of Nico had a net carrying amount of $1,140,000 on December 31, 2017. The bonds, which had a face value of $1,200,000, were issued at a discount to yield 12%. Amortization was recorded under the effective-interest method. Interest was paid on January 1 and July 1 of each year. The interest payment on July 1, 2018 was made as scheduled in the morning. Later that day, several years before their maturity, Nico retired the...
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