on june 30,2018 hardy corporation issued $12.0 million of its 8% bonds for $10.8 million. The...
on june 30,2018 hardy corporation issued $12.0 million of its 8% bonds for $10.8 million. The bonds were priced
to yield 10%. the bonds are dated june 30,2018. interest is payable semiannually on december 31st an
july 1. if the effective interest method is used, by how much should the bond discount be reduced for six month
For the six months ended december 31,2018.
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on june 30,2018 hardy corporation issued $12.0 million of its 8%
bonds for $10.8 million. The...
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million....
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million. The bonds were priced to yield 12%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? Multiple Choice $37,000. $43,500. oooo $35,500. $26,000.
Help Save & Sub On June 30, 2021, Moran Corporation issued $13.5 million of its 8%...
Help Save & Sub On June 30, 2021, Moran Corporation issued $13.5 million of its 8% bonds for $12.2 million. The bonds were priced to yield 10%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2017 Help Sav Multiple Choice $76,500. $68,500. оо O s70,ооо. O ээрoo.
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of...
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $370 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $314,955,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? On June...
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million...
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million of its 8% bonds for $14 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2021? Saved Help Save & EX Multiple Choice O $600,000 O $700,000 0 $750,000 o $620,000
Wilbury Corporation issued $1 million of 13.5% bonds for $985,071.68. The bonds are dated and issued...
Wilbury Corporation issued $1 million of 13.5% bonds for $985,071.68. The bonds are dated and issued October 1, 2016, are due September 30, 2020, and pay interest semiannually on March 31 and September 30. Assume an effective yield rate of 14% Required: 1. Prepare a bond interest expense and discount amortization schedule using the straight-line method. 2. Prepare a bond interest expense and discount amortization schedule using the effective interest method. 3. Prepare adjusting entries for the end of the...
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,...
Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 on January 1,...
Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 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. 1. 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...
1 question 2 parts Scottie Adams Bird Supplies issued 9% bonds, dated January 1, with a...
1 question 2 parts
Scottie Adams Bird Supplies issued 9% bonds, dated January 1, with a face amount of $220,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 8%. Interest is paid semiannually on June 30 and December 31. What is the price of the bonds at January 1, 2021? Some relevant and irrelevant present value factors: * PV of annuity due of $1: n =...
Mills Corporation acquired as an investment $235 million of 8% bonds, dated July 1, on July...
Mills Corporation acquired as an investment $235 million of 8% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Mills paid $270 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $260...
On July 1, 2019, Sugarland Company issued $2,000,000 face value of 10%, 10-year bonds at $1,770,602,...
On July 1, 2019, Sugarland Company issued $2,000,000 face value of 10%, 10-year bonds at $1,770,602, a price which implies an effective interest rate of 12%. Sugarland uses the effective-interest method to amortize bond premiums and discounts. These bonds pay interest semiannually on June 30 and December 31. Required: Compute the answers to the following questions: (a.) How much interest will Sugarland pay (in cash) every six months? (b.)What is the dollar amount of the premium or discount on these...
On June 30, 2021, Moran Corporation issued $8.5 million of its 10% bonds for $7.7 million. The bonds were priced to yield 12%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? Multiple Choice $37,000. $43,500. oooo $35,500. $26,000.
Help Save & Sub On June 30, 2021, Moran Corporation issued $13.5 million of its 8% bonds for $12.2 million. The bonds were priced to yield 10%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2017 Help Sav Multiple Choice $76,500. $68,500. оо O s70,ооо. O ээрoo.
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $370 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%. Assuming that Auerbach issued the bonds for $314,955,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022? On June...
Osbom's Help Save & Exit Submit On June 30, 2021, L. N. Bean issued $15 million of its 8% bonds for $14 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2021? Saved Help Save & EX Multiple Choice O $600,000 O $700,000 0 $750,000 o $620,000
1 question 2 parts
Scottie Adams Bird Supplies issued 9% bonds, dated January 1, with a face amount of $220,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 8%. Interest is paid semiannually on June 30 and December 31. What is the price of the bonds at January 1, 2021? Some relevant and irrelevant present value factors: * PV of annuity due of $1: n =...
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