On January 1, 2017, Buffalo Corporation redeemed $630,000 of bonds at 98. At the time of...
On January 1, 2017, Buffalo Corporation redeemed $630,000 of bonds at 98. At the time of redemption, the unamortized premium was $18,900.
Prepare the corporation’s journal entry to record the reacquisition of the bonds
Homework Answers
Journal entries:
Bond payable Account ......Debit $630000
Premium on bond payable ......Debit $18900
Gain on redemption on bond ....Credit $31500
Cash Account ......Credit $617400
Working :
Cash paid on redemption = $630000*98/100 = $617400
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On January 1, 2017, Buffalo Corporation redeemed $630,000 of
bonds at 98. At the time of...
Brief Exercise 14-9 On January 1, 2017, Buffalo Corporation redeemed $470,000 of bonds at 99. At...
Brief Exercise 14-9 On January 1, 2017, Buffalo Corporation redeemed $470,000 of bonds at 99. At the time of redemption, the unamortized premium was $14,100. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final Account Titles and Explanation...
On January 1, 2017, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of...
On January 1, 2017, Henderson Corporation redeemed $500,000 of
bonds at 99. At the time of redemption, the unamortized premium was
$15,000.
Prepare the corporation’s journal entry to record the reacquisition
of the bonds. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when the amount is
entered. Do not indent manually. Round intermediate calculations to
6 decimal places, e.g. 1.251247 and final answer to...
On January 1, 2017, Culver Corporation redeemed $600,000 of bonds at 99. At the time of...
On January 1, 2017, Culver Corporation redeemed $600,000 of bonds at 99. At the time of redemption, the unamortized premium was $18,000. Prepare the corporation’s journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
14-9 On January 1, 2017, Skysong Corporation redeemed $600,000 of bonds at 99. At the time...
14-9 On January 1, 2017, Skysong Corporation redeemed $600,000
of bonds at 99. At the time of redemption, the unamortized premium
was $18,000.
Prepare the corporation’s journal entry to record the reacquisition
of the bonds. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when amount is entered.
Do not indent manually. Round intermediate calculations to 6
decimal places, e.g. 1.251247 and final answer to...
On January 1, 2017, Marin Corporation redeemed $400,000 of bonds at 96. At the time of...
On January 1, 2017, Marin Corporation redeemed $400,000 of bonds at 96. At the time of redemption, the unamortized premium was $12,000. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
On January 1, 2017, Sandhill Company redeemed $380,000 of bonds at 102. At the time of...
On January 1, 2017, Sandhill Company redeemed $380,000 of bonds at 102. At the time of redemption, the unamortized discount was $15,600 and unamortized bond issue costs were $3,200. Prepare the Sandhill's journal entry to record the reacquisition of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
On January 1, 2020, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of...
On January 1, 2020, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of redemption, the unamortized premium was $15,000. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
Need help on the last entry. On January 1, 2020, Novak Corporation redeemed $470,000 of bonds...
Need help on the last entry.
On January 1, 2020, Novak Corporation redeemed $470,000 of bonds at 99. At the time of redemption, the unamortized premium was $14,100 Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At the time of redemption, the unamortized premium was $13,500. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At the time of redemption, the unamortized premium was $13,500. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final...
Brief Exercise 14-9 On January 1, 2017, Buffalo Corporation redeemed $470,000 of bonds at 99. At the time of redemption, the unamortized premium was $14,100. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final Account Titles and Explanation...
On January 1, 2017, Henderson Corporation redeemed $500,000 of
bonds at 99. At the time of redemption, the unamortized premium was
$15,000.
Prepare the corporation’s journal entry to record the reacquisition
of the bonds. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when the amount is
entered. Do not indent manually. Round intermediate calculations to
6 decimal places, e.g. 1.251247 and final answer to...
14-9 On January 1, 2017, Skysong Corporation redeemed $600,000
of bonds at 99. At the time of redemption, the unamortized premium
was $18,000.
Prepare the corporation’s journal entry to record the reacquisition
of the bonds. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when amount is entered.
Do not indent manually. Round intermediate calculations to 6
decimal places, e.g. 1.251247 and final answer to...
On January 1, 2017, Marin Corporation redeemed $400,000 of bonds at 96. At the time of redemption, the unamortized premium was $12,000. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
On January 1, 2017, Sandhill Company redeemed $380,000 of bonds at 102. At the time of redemption, the unamortized discount was $15,600 and unamortized bond issue costs were $3,200. Prepare the Sandhill's journal entry to record the reacquisition of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
On January 1, 2020, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of redemption, the unamortized premium was $15,000. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0...
Need help on the last entry.
On January 1, 2020, Novak Corporation redeemed $470,000 of bonds at 99. At the time of redemption, the unamortized premium was $14,100 Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At the time of redemption, the unamortized premium was $13,500. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final...
Brief Exercise 14-09 On January 1, 2020, Cullumber Corporation redeemed $450,000 of bonds at 97. At the time of redemption, the unamortized premium was $13,500. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final...
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