Homework Answers
| Issue Price ($2,960,000 x 97/100) | $2,871,200 |
| Face Value of bonds payable | $2,960,000 |
| Discount on bonds payable | $88,800 |
| Dicount amortize years | 5 years |
| Dicount amortize per year | $17,760 |
| Bonds Payable | $2,960,000 |
| Less: Discount on bonds Payable ($88,800 - $17,760) | $71,040 |
| Carrying Value of bonds after one year | $2,888,960 |
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Blossom Company issued $2960000 of 6%, 5-year bonds at 97, which pay interest annually. Assuming straight-line...
*213., Neufeld Company issued $2,000,000 of 6%, 5-year bonds at 98, which pay interest grew annually....
*213., Neufeld Company issued $2,000,000 of 6%, 5-year bonds at 98, which pay interest grew annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year? a $1,960,000 2 000000.2% b. $1,964,000 ---C. $1,968,000 32000 d. $1,976,000 8,000 19 66 po 40,000
Carla Vista Co. issued $1090000 of 8%, 5-year bonds at 107, which pay interest annually. Assuming...
Carla Vista Co. issued $1090000 of 8%, 5-year bonds at 107, which pay interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year? O $1158670 O $1173930 $1166300 $1151040
Wildhorse Co. issued $780000 of 8%, 5-year bonds at 109, which pay interest annually. Assuming straight-line...
Wildhorse Co. issued $780000 of 8%, 5-year bonds at 109, which pay interest annually. Assuming straight-line amortization, what is the total interest cost of the bonds? $171600 $312000 $382200 $241800
Blossom Company issued $261,000,7%, 15-year bonds on December 31, 2021, for $250,560. Interest is payable annually...
Blossom Company issued $261,000,7%, 15-year bonds on December 31, 2021, for $250,560. Interest is payable annually on December 31. Blossom uses the straight-line method to amortize bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The issuance of the bonds. (b) The payment of interest and the discount amortization on December 31, 2022. (c) The redemption of the bonds at maturity,...
Magna Company issued $400,000, 6%, 15-year bonds on December 31, 2017 at 97. Interest is payable...
Magna Company issued $400,000, 6%, 15-year bonds on December 31, 2017 at 97. Interest is payable annually on December 31. Magna uses the straight-line method to amortize bond premium or discount . Instructions Prepare the journal entries to record the following events. (a) The issuance of the bonds. (b) The payment of interest and the discount amortization on December 31, 2018. (c) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and...
Question 18 Blossom Company received proceeds of $1025000 on 10-year, 8% bonds issued on January 1,...
Question 18 Blossom Company received proceeds of $1025000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $1088000, pay interes annually on December 31, and have a call price of 102. Blossom uses the straight-line method of amortization. What is the amount of interest expense Blossom will show with relation to these bonds for the year ended December 31, 20207 O $82000 $93340 $80740 $87040
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is...
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is payable annually on January 1, Blossom uses straight-line amortization for bond premium discount Prepare the journal entries to record the following events. (Credit account des are automatically inde hemount is entered. Do not indent manually) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2022. Id The payment of interest on January 1, 2023. (d)...
DajendJK Company issued bonds $267,000 of 5 year, 6 percent bonds on January 1, 2018, at 102. Interest is payable in cas...
DajendJK Company issued bonds $267,000 of 5 year, 6 percent bonds on January 1, 2018, at 102. Interest is payable in cash annually on December 31. The straight-line method is used for amortization. What is the interest payment DajendJK will pay each year? $_______
Blossom Company issued 6%, 7-year, $310,000 par value bonds that pay interest annually on April 1....
Blossom Company issued 6%, 7-year, $310,000 par value bonds that
pay interest annually on April 1. The bonds are dated April 1,
2022, and are issued on that date. The discount rate of interest
for such bonds on April 1, 2022, is 8%.
Please help! They give you this factor table, too.
This should be all you need! Please help me!
_ Your answer is incorrect. Blossom Company issued 6%, 7-year, $310,000 par value bonds that pay interest annually on...
Blossom Company issued $ 516,000, 7%, 30-year bonds on January 1, 2017, at 103. Interest is payable annually on...
Blossom Company issued $ 516,000, 7%, 30-year
bonds on January 1, 2017, at 103. Interest is payable
annually on January 1. Blossom uses straight-line amortization for
bond premium or discount.
Prepare the journal entries to record the following events.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
(a)
The issuance of the bonds.
(b)
The accrual of interest and the premium amortization on
December 31, 2017.
(c)
The payment of interest on January 1, 2018.
(d)
The...
*213., Neufeld Company issued $2,000,000 of 6%, 5-year bonds at 98, which pay interest grew annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year? a $1,960,000 2 000000.2% b. $1,964,000 ---C. $1,968,000 32000 d. $1,976,000 8,000 19 66 po 40,000
Carla Vista Co. issued $1090000 of 8%, 5-year bonds at 107, which pay interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year? O $1158670 O $1173930 $1166300 $1151040
Wildhorse Co. issued $780000 of 8%, 5-year bonds at 109, which pay interest annually. Assuming straight-line amortization, what is the total interest cost of the bonds? $171600 $312000 $382200 $241800
Blossom Company issued $261,000,7%, 15-year bonds on December 31, 2021, for $250,560. Interest is payable annually on December 31. Blossom uses the straight-line method to amortize bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The issuance of the bonds. (b) The payment of interest and the discount amortization on December 31, 2022. (c) The redemption of the bonds at maturity,...
Question 18 Blossom Company received proceeds of $1025000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $1088000, pay interes annually on December 31, and have a call price of 102. Blossom uses the straight-line method of amortization. What is the amount of interest expense Blossom will show with relation to these bonds for the year ended December 31, 20207 O $82000 $93340 $80740 $87040
Blossom Company issued $450,000, 6%, 30 year bonds on January 1, 2022, at 102. Interest is payable annually on January 1, Blossom uses straight-line amortization for bond premium discount Prepare the journal entries to record the following events. (Credit account des are automatically inde hemount is entered. Do not indent manually) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2022. Id The payment of interest on January 1, 2023. (d)...
Blossom Company issued 6%, 7-year, $310,000 par value bonds that
pay interest annually on April 1. The bonds are dated April 1,
2022, and are issued on that date. The discount rate of interest
for such bonds on April 1, 2022, is 8%.
Please help! They give you this factor table, too.
This should be all you need! Please help me!
_ Your answer is incorrect. Blossom Company issued 6%, 7-year, $310,000 par value bonds that pay interest annually on...
Blossom Company issued $ 516,000, 7%, 30-year
bonds on January 1, 2017, at 103. Interest is payable
annually on January 1. Blossom uses straight-line amortization for
bond premium or discount.
Prepare the journal entries to record the following events.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
(a)
The issuance of the bonds.
(b)
The accrual of interest and the premium amortization on
December 31, 2017.
(c)
The payment of interest on January 1, 2018.
(d)
The...
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