On January 1, 2017, $5600000, 5-year, 10% bonds, were issued for $5936000. Interest is paid annually...
On January 1, 2017, $5600000, 5-year, 10% bonds, were issued for
$5936000. Interest is paid annually on January 1. If the issuing
corporation uses the straight-line method to amortize premium on
bonds payable, the monthly amortization amount is:
5600
6720
49465
67200
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On January 1, 2017, $5600000, 5-year, 10% bonds, were issued for
$5936000. Interest is paid annually...
On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid semiannually on...
On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the semiannual amortization amount is $2,000 $8,000 $10,000 $4,000
1. On January 1, $808,000, five-year, 10% bonds, were issued for $783,760. Interest is paid semiannually...
1. On January 1, $808,000, five-year, 10% bonds, were issued for $783,760. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize the discount on bonds payable, the semiannual amortization amount is a.$40,400 b.$4,848 c.$24,240 d.$2,424 2. Bonds Payable has a balance of $991,000 and Premium on Bonds Payable has a balance of $10,901. If the issuing corporation redeems the bonds at 103, what is the amount of gain or...
On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid semiannually on...
On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the semiannual amortization amount is $4,000 $10,000 $8,000 $2,000 The entry to record the amortization of a premium on bonds payable on an interest payment date would a debit to Premium on Bonds Payable and a credit to Interest Revenue a debit to Interest Expense...
Question 17 Show Attempt History Your answer is correct. on January 1, 2017, S 3180000, the...
Question 17 Show Attempt History Your answer is correct. on January 1, 2017, S 3180000, the straight-line method to amortize discount on bonds payable, the monthly amortization amount is 10-year, 10% bonds, were issued for $ 3084000, Interest is paid annually on January 1, lf the issuing corporation uses $30840. $ 9600 $ 2474. $800
Hartley Company sold $900,000, 10-year, 9% bonds on January 1 for $885,000. Interest is to be...
Hartley Company sold $900,000, 10-year, 9% bonds on January 1 for $885,000. Interest is to be paid annually on January 1. If the issuing corporation uses the straight-line method to amortize discounts and premiums on bonds payable, the amount of bond interest expense to be recognized in the year issued is Group of answer choices $90,000. $81,000. $82,500. $88,500. $79,500.
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...
1. Merchant Company issued 10-year bonds on January 1. The 7% bonds have a face value...
1. Merchant Company issued 10-year bonds on January 1. The 7% bonds have a face value of $709,000 and pay interest every January 1 and July 1. The bonds were sold for $589,257 based on the market interest rate of 8%. Merchant uses the effective interest method to amortize bond discounts and premiums. On July 1 of the first year, Merchant should record interest expense (round to the nearest dollar) of a.$23,570 b.$20,624 c.$28,360 d.$24,815 2. Franklin Corporation issues $94,000,...
On away 1.5950,00D, five year, 10% bonds, were issued for 1921,500. Interest is paid semiannusly on...
On away 1.5950,00D, five year, 10% bonds, were issued for 1921,500. Interest is paid semiannusly on January 1 and July 1 If the issuing Corporations the straight-ane method to amortize the discount on bonds payable the annual amortization a unts $2,850 b. 28,500 Cc 85,700 d. 147.500
Novak Corp. issued $ 400,000, 6%, 25-year bonds on January 1, 2017, for $ 353,386. This price resulted...
Novak Corp. issued $ 400,000, 6%, 25-year bonds on January 1, 2017, for $ 353,386. This price resulted in an effective-interest rate of 7% on the bonds. Interest is payable annually on January 1. Novak uses the effective-interest method to amortize bond premium or discount. Prepare the schedule using effective-interest method to amortize bond premium or discount of Novak Corp.. (Round answers to 0 decimal places, e.g. 5,250.) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount...
On January 1, 2012, Scott Corporation issued 10-year $100,000 bonds with a 6% stated rate of...
On January 1, 2012, Scott Corporation issued 10-year $100,000 bonds with a 6% stated rate of interest at 103. Scott Corporation pays the interest annually on December 31 and uses the straight-line amortization method. Which of the following is the correct general journal entry to record the interest expense for 2012? Debit Credit a. Interest Expense 6,000 Premium on Bonds Payable 300 Cash 5,700 b. Interest Expense 6,000 Cash 6,000 c. Interest Expense 6.300 Premium on Bonds Payable 300 Cash...
Question 17 Show Attempt History Your answer is correct. on January 1, 2017, S 3180000, the straight-line method to amortize discount on bonds payable, the monthly amortization amount is 10-year, 10% bonds, were issued for $ 3084000, Interest is paid annually on January 1, lf the issuing corporation uses $30840. $ 9600 $ 2474. $800
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...
On away 1.5950,00D, five year, 10% bonds, were issued for 1921,500. Interest is paid semiannusly on January 1 and July 1 If the issuing Corporations the straight-ane method to amortize the discount on bonds payable the annual amortization a unts $2,850 b. 28,500 Cc 85,700 d. 147.500
On January 1, 2012, Scott Corporation issued 10-year $100,000 bonds with a 6% stated rate of interest at 103. Scott Corporation pays the interest annually on December 31 and uses the straight-line amortization method. Which of the following is the correct general journal entry to record the interest expense for 2012? Debit Credit a. Interest Expense 6,000 Premium on Bonds Payable 300 Cash 5,700 b. Interest Expense 6,000 Cash 6,000 c. Interest Expense 6.300 Premium on Bonds Payable 300 Cash...
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