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.
Homework Answers
| Premium on issue | 3000 | =300000*1% |
| Divide by Total semi-annual periods | 10 | =5*2 |
| Premium amortization | -300 |
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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 $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.
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 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
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when...
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. What is the face value of the bond? exact number, no tolerance On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate...
On December 31, 2018, P. Star Corporation issued $300,000, 12 % , 15-year bonds for $346,120...
On December 31, 2018, P. Star Corporation issued $300,000, 12 % , 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. Was the bond issued at a premium or a discount. Type in 1 for discount or 2 for premium. exact number, no tolerance On December 31, 2018, P. Star...
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when...
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. Give the required journal entries on (1) December 31, 2018, the issue date and (2) June 30, 2019, the first interest payment date in the attached workpaper. You do not have...
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...
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 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
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. What is the face value of the bond? exact number, no tolerance On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate...
On December 31, 2018, P. Star Corporation issued $300,000, 12 % , 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. Was the bond issued at a premium or a discount. Type in 1 for discount or 2 for premium. exact number, no tolerance On December 31, 2018, P. Star...
On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when the market rate of interest was 10%. The bonds pay interest semi-annually each June 30 and December 31. P. Star uses the effective interest method of amortization to amortize any premium or discount. Give the required journal entries on (1) December 31, 2018, the issue date and (2) June 30, 2019, the first interest payment date in the attached workpaper. You do not have...
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...
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