Homework Answers
| 1-Jan | Debt investments | 70000 | ||
| Cash | 70000 | |||
| 30-Jun | Cash | 4900 | ||
| Interest revenue | 4900 | |||
| 31-Dec | Cash | 4900 | ||
| Interest revenue | 4900 | |||
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6 On January 1 2016, the Hawden Corporation decides to invest in Small Town bonds. The...
OPTIONS On January 1, 2018, the Cook's Restaurant decides to invest in Lake Myrth bonds. The...
OPTIONS
On January 1, 2018, the Cook's Restaurant decides to invest in Lake Myrth bonds. The bonds mature on December 31, 2023, and pay interest on June 30 and December 31 at 4% annually. The market rate of interest was 4% on January 1, 2018, so the $110,000 maturity value bonds sold for face value. Cook's intends to hold the bonds until December 31, 2023. Requirements 1. Journalize the transactions related to Cook's investment in Lake Myrth bonds during 2018....
thank you!! Marshall purchased a bond on January 1, 2018, for $120,000. The bond has a...
thank you!!
Marshall purchased a bond on January 1, 2018, for $120,000. The bond has a face value of $120,000 and matures in 5 years. The bond pays interest on June 30 and December 31 at a 2 % annual rate. Marshall plans on holding the investment until maturity Read the euirements Requirement 1. Journalize the 2018 transactions related to Marshall's bond investment. Explanations are not required (Record debits first, then credits. Exclude explanations from journal entries.) Begin by journalizing...
Suppose Sam and Sons purchases $700,000 of 7% annual bonds of Bridge Corporation at face value on January 1, 2018. Thes...
Suppose Sam and Sons purchases $700,000 of 7% annual bonds of Bridge Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2021. Sam intends to hold the Bridge bond investment until maturity. Read the requirements. Requirement 1. Journalize Sam and Sons's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry...
League Up & Co. owns vast amounts of corporate bonds. Suppose League Up buys $900,000 of...
League Up & Co. owns vast amounts of corporate bonds. Suppose League Up buys $900,000 of RoastCo bonds at face value on January 2, 2018. The RoastCo bonds pay interest at the annual rate of 7% on June 30 and December 31 and mature on December 31, 2027. League Up intends to hold the investment until maturity. Requirements 1. Journalize any required 2018 entries for the bond investment. 2. How much cash interest will League Up receive each year from...
Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 on January 1,...
Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 on January 1, 2016. The bonds are due December 31, 2019, were issued to yield 8%, and pay interest semiannually on June 30 and December 31. Chowan uses the effective interest method of amortization. 1. Required: Prepare the journal entries to record the issue of the bonds on January 1, 2016, and the interest payments on June 30, 2016, December 31, 2016, and June 30, 2017. In...
NauticalNautical & Co. owns vast amounts of corporate bonds. Suppose NauticalNautical buys $ 600 comma 000$600,000...
NauticalNautical & Co. owns vast amounts of corporate bonds. Suppose NauticalNautical buys $ 600 comma 000$600,000 of BitterCoBitterCo bonds at face value on January 2, 20182018. The BitterCoBitterCo bonds pay interest at the annual rate of 77% on June 30 and December 31 and mature on December 31, 20322032. NauticalNautical intends to hold the investment until maturity. Requirements 1. Journalize any required 20182018 entries for the bond investment. 2. How much cash interest will NauticalNautical receive each year from BitterCoBitterCo?...
On January 1, 2016. The Walder's Restaurant decides to invest in Lake Goodlock bonds. The bonde...
On January 1, 2016. The Walder's Restaurant decides to invest in Lake Goodlock bonds. The bonde mature on December 31, 2024, and pay interest on June 30 and December 31 at 6% annually. The market rate of interest was ex on January 1, 2018, so the $70.000 maturity value bonds sold for the value Walden's intends to hold the bonds until December 31, 2024 Requirements 1. Joumalize the transactions related to Walden's investment in Lake Goodied bonds during 2018 2...
Please answer all parts! Suppose Andersen Brothers purchases $400,000 of 5% annual bonds of Whitmore Corporation...
Please answer all parts!
Suppose Andersen Brothers purchases $400,000 of 5% annual bonds of Whitmore Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2027. Anderson intends to hold the Whitmore bond investment until maturity. Read the requirements. Requirement 1. Journalize Andersen Brothers's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the...
Please help me finish! Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro...
Please help me finish!
Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys $500,000 of BitterCo bonds at face value on January 2, 2018. The BitterCo bonds pay interest at the annual rate of 7% on June 30 and December 31 and mature on December 31, 2022. Astro Mile intends to hold the investment until maturity. Requirements 1. Journalize any required 2018 entries for the bond investment. 2. How much cash interest will Astro Mile...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of $220,000 The bonds ae ssued at 133 and pay interest on June 30 and December 31 Assume bonds payatle ae anorticed uning the straght ne amortaions method) Read the seurements Requirement 1. Journalze the issuance of the bonds on January 1, 2018 (Record debits first then credes Select explanations on the last ine of the pural entry Credt Date Accounts and Explanation Debit 201...
OPTIONS
On January 1, 2018, the Cook's Restaurant decides to invest in Lake Myrth bonds. The bonds mature on December 31, 2023, and pay interest on June 30 and December 31 at 4% annually. The market rate of interest was 4% on January 1, 2018, so the $110,000 maturity value bonds sold for face value. Cook's intends to hold the bonds until December 31, 2023. Requirements 1. Journalize the transactions related to Cook's investment in Lake Myrth bonds during 2018....
thank you!!
Marshall purchased a bond on January 1, 2018, for $120,000. The bond has a face value of $120,000 and matures in 5 years. The bond pays interest on June 30 and December 31 at a 2 % annual rate. Marshall plans on holding the investment until maturity Read the euirements Requirement 1. Journalize the 2018 transactions related to Marshall's bond investment. Explanations are not required (Record debits first, then credits. Exclude explanations from journal entries.) Begin by journalizing...
Suppose Sam and Sons purchases $700,000 of 7% annual bonds of Bridge Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2021. Sam intends to hold the Bridge bond investment until maturity. Read the requirements. Requirement 1. Journalize Sam and Sons's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry...
League Up & Co. owns vast amounts of corporate bonds. Suppose League Up buys $900,000 of RoastCo bonds at face value on January 2, 2018. The RoastCo bonds pay interest at the annual rate of 7% on June 30 and December 31 and mature on December 31, 2027. League Up intends to hold the investment until maturity. Requirements 1. Journalize any required 2018 entries for the bond investment. 2. How much cash interest will League Up receive each year from...
On January 1, 2016. The Walder's Restaurant decides to invest in Lake Goodlock bonds. The bonde mature on December 31, 2024, and pay interest on June 30 and December 31 at 6% annually. The market rate of interest was ex on January 1, 2018, so the $70.000 maturity value bonds sold for the value Walden's intends to hold the bonds until December 31, 2024 Requirements 1. Joumalize the transactions related to Walden's investment in Lake Goodied bonds during 2018 2...
Please answer all parts!
Suppose Andersen Brothers purchases $400,000 of 5% annual bonds of Whitmore Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2027. Anderson intends to hold the Whitmore bond investment until maturity. Read the requirements. Requirement 1. Journalize Andersen Brothers's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the...
Please help me finish!
Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys $500,000 of BitterCo bonds at face value on January 2, 2018. The BitterCo bonds pay interest at the annual rate of 7% on June 30 and December 31 and mature on December 31, 2022. Astro Mile intends to hold the investment until maturity. Requirements 1. Journalize any required 2018 entries for the bond investment. 2. How much cash interest will Astro Mile...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of $220,000 The bonds ae ssued at 133 and pay interest on June 30 and December 31 Assume bonds payatle ae anorticed uning the straght ne amortaions method) Read the seurements Requirement 1. Journalze the issuance of the bonds on January 1, 2018 (Record debits first then credes Select explanations on the last ine of the pural entry Credt Date Accounts and Explanation Debit 201...
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