On June 1, 2019 Adelphi Corporation issued $380,000 of 6%, 5-year bonds. The bonds which were issued...
On June 1, 2019 Adelphi Corporation issued $380,000 of 6%, 5-year bonds. The bonds which were issued at 95, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number.
Homework Answers
Discount on bonds payable = 380000*5/100 = 19000
Bond discount amortized with each interest payment = 19000/10 = 1900 per semiannual period
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On June 1, 2019 Adelphi Corporation issued $380,000 of
6%, 5-year bonds. The bonds which were issued...
On June 1, 2019 Adelphi Corporation issued $300,000 of 6%, 5-year bonds. The bonds which were...
On June 1, 2019 Adelphi Corporation issued $300,000 of 6%, 5-year bonds. The bonds which were issued at 101, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number.
Question 1 (3.5 points) On June 1, 2019 Adelphi Corporation issued $455,000 of 6%, 5-year bonds. ...
Question 1 (3.5 points) On June 1, 2019 Adelphi Corporation issued $455,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number. Your Answer Answer
Question 1 (3.5 points) On June 1,...
Question 10 (4 points) On June 1, 2019 Adelphi Corporation issued $305,000 of 6%, 5-year bonds....
Question 10 (4 points) On June 1, 2019 Adelphi Corporation issued $305,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number. Your Answer: Answer
On January 1, 2019, Knorr Corporation issued $1,400,000 of 6%, 5-year bonds dated January 1, 2019.
On January 1, 2019, Knorr Corporation issued $1,400,000 of 6%,
5-year bonds dated January 1, 2019. The bonds pay interest annually
on December 31. The bonds were issued to yield 7%. Bond issue costs
associated with the bonds totaled $22,107.40.Required:Prepare the journal entries to record the following:January 1, 2019Sold the bonds at an effective rate of 7%December 31, 2019First interest payment using the effective interest methodDecember 31, 2019Amortization of bond issue costs using the straight-line
methodDecember 31, 2020Second interest payment...
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest...
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). McNeil Corporation's year-end is June 30. Read the requirements. 1. Using the PV function in Excel", calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ í Requirements 1. Using the...
Waldron Corporation issued $350,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest...
Waldron Corporation issued $350,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually on June 30 and December 31). Waldron Corporation's year and is June 30, Waldron prepared an effective interest amortization table for the bonds through the first three interest payments as follows: Click the icon to view the amortization schedule) Read the requirements 1. How much cash did Waldron Corporation borrow...
On January 1, 2019, Drennen Inc. issued $4.6 million face amount of 6-year, 14% stated rate...
On January 1, 2019, Drennen Inc. issued $4.6 million face amount of 6-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2024. b-2. Assume instead that the proceeds were $4,820,000. Record the journal entry to show the payment of semiannual interest and the related discount amortization on June 30, 2019, assuming that the discount of $180,000 is amortized on a straight-line basis.
Chowan Corporation issued $154,000 of 7% bonds dated January 1, 2016, for $148,815.79 on January 1,...
Chowan Corporation issued $154,000 of 7% bonds dated January 1, 2016, for $148,815.79 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. 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 addition,...
On June 1, 2016 Alpha Corporation issued $300,000 of 9%, 5-year bonds. The bonds which were...
On June 1, 2016 Alpha Corporation issued $300,000 of 9%, 5-year bonds. The bonds which were issued at 97, pay interest on January 1 and June 1. Use this information to prepare the General Journal entry (without explanation) to record the June 1, 2016 bond issue. If no entry is required then write "No Entry Required." General Journal: Debit Credit Date Accounts 民月
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
Question 1 (3.5 points) On June 1, 2019 Adelphi Corporation issued $455,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number. Your Answer Answer
Question 1 (3.5 points) On June 1,...
Question 10 (4 points) On June 1, 2019 Adelphi Corporation issued $305,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number. Your Answer: Answer
On January 1, 2019, Knorr Corporation issued $1,400,000 of 6%,
5-year bonds dated January 1, 2019. The bonds pay interest annually
on December 31. The bonds were issued to yield 7%. Bond issue costs
associated with the bonds totaled $22,107.40.Required:Prepare the journal entries to record the following:January 1, 2019Sold the bonds at an effective rate of 7%December 31, 2019First interest payment using the effective interest methodDecember 31, 2019Amortization of bond issue costs using the straight-line
methodDecember 31, 2020Second interest payment...
McNeil Corporation issued $800,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually (on June 30 and December 31). McNeil Corporation's year-end is June 30. Read the requirements. 1. Using the PV function in Excel", calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ í Requirements 1. Using the...
Waldron Corporation issued $350,000 of 12%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 10%, and the bonds pay interest semiannually on June 30 and December 31). Waldron Corporation's year and is June 30, Waldron prepared an effective interest amortization table for the bonds through the first three interest payments as follows: Click the icon to view the amortization schedule) Read the requirements 1. How much cash did Waldron Corporation borrow...
On June 1, 2016 Alpha Corporation issued $300,000 of 9%, 5-year bonds. The bonds which were issued at 97, pay interest on January 1 and June 1. Use this information to prepare the General Journal entry (without explanation) to record the June 1, 2016 bond issue. If no entry is required then write "No Entry Required." General Journal: Debit Credit Date Accounts 民月
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
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