Culver Corporation issues 5900, 10-year, 8%, $1000 bonds dated January 1, 2017, at 105. The journal...
Culver Corporation issues 5900, 10-year, 8%, $1000 bonds dated January 1, 2017, at 105. The journal entry to record the issuance will show a Entry field with incorrect answer now contains modified data debit to Premium on Bonds Payable for $295000. credit to Cash for $6195000. credit to Bonds Payable for $5900000. debit to Cash of $5900000.
Homework Answers
| Date | Accounts | Debit | Credit |
| Jan 1 2017 | Cash (5900*1000*1.05) | 6195000 | |
| Bonds payable (5900*1000) | 5900000 | ||
| Premium on Bonds payable | 295000 |
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Culver Corporation issues 5900, 10-year, 8%, $1000 bonds dated
January 1, 2017, at 105. The journal...
Save Answer Question 1 0.6 points Molina Corporation issues 10-year, 8%, $5,000,000 bonds dated January 1, 2017,...
Save Answer Question 1 0.6 points Molina Corporation issues 10-year, 8%, $5,000,000 bonds dated January 1, 2017, at 103. The journal entry to record the issuance will show a debit to Cash of $5,000,000 debit to Premium on Bonds Payable for $150,000 credit to Bonds Payable for $5,000,000 credit to Cash for $5,150,000
Ward Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2013, at 104. The journal...
Ward Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2013, at 104. The journal entry to record the issuance will show a debit to Cash of $5,000,000. credit to Premium on Bonds Payable for $200,000. credit to Bonds Payable for $5,040,000. credit to Cash for $5,020,000.
Question 2 0.6 points Gomez Corporation issues 10-year, 8%, $900,000 bonds dated January 1, 2017, at 96. The Journa...
Question 2 0.6 points Gomez Corporation issues 10-year, 8%, $900,000 bonds dated January 1, 2017, at 96. The Journal entry to record the issuance will show a debit to Cash of $900,000. credit to Discount on Bonds Payable for $36,000. credit to Bonds Payable for $864,000. debit to Cash for $864,000.
ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020,...
ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit to Cash for $2548000. debit to Cash of $2600000. credit to Discount on Bonds Payable for $52000. credit to Bonds Payable for $2652000.
On January 1, a company issues bonds dated January 1 with a par value of $210,000....
On January 1, a company issues bonds dated January 1 with a par value of $210,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $218,105. The journal entry to record the issuance of the bond is: Multiple Choice O Debit Cash $218,105; credit Premium on Bonds Payable $8,105, credit Bonds Pable $210,000 Debit Cash $218,105,...
On January 1, a company issues bonds dated January 1 with a par value of $220,000....
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the issuance of the bond is: Multiple Choice C Debit Cash $228,930; credit Bonds Payable $228,930 Debit Cash $228,930; credit Premium on Bonds Payable $8,930...
Culver Company issued $408,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is...
Culver Company issued $408,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and January 1. Culver Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.7705%. Prepare the journal entries to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account...
1) Rand Corporation issues 500, 5-year, 6%, $1,000 bonds dated January 1, 2019, at 105. The...
1) Rand Corporation issues 500, 5-year, 6%, $1,000 bonds dated January 1, 2019, at 105. The journal entry to record the issuance will show a A) debit to Cash of $500,000. B) credit to Premium on Bonds Payable for $25,000. C) credit to Bonds Payable for $525,000. D) credit to Cash for $525,000. E) None of the above. 2) Discount on Bonds Payable A) has a credit balance. B) is a contra account. C) is considered to be an addition...
Legacy issues $710,000 of 8.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on...
Legacy issues $710,000 of 8.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $621,812 and their market rate is 12% at the issue date. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' Issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $710,000 cash on January 1, 2017 at an issue price of $621,812. Note: Enter...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2d For each semiannual period, complete the table below to calculate the cash payment. 2( For each semiannual period, complete the table below to calculate the straight-line discount amortization. 20 For each semiannual period, complete...
Save Answer Question 1 0.6 points Molina Corporation issues 10-year, 8%, $5,000,000 bonds dated January 1, 2017, at 103. The journal entry to record the issuance will show a debit to Cash of $5,000,000 debit to Premium on Bonds Payable for $150,000 credit to Bonds Payable for $5,000,000 credit to Cash for $5,150,000
Question 2 0.6 points Gomez Corporation issues 10-year, 8%, $900,000 bonds dated January 1, 2017, at 96. The Journal entry to record the issuance will show a debit to Cash of $900,000. credit to Discount on Bonds Payable for $36,000. credit to Bonds Payable for $864,000. debit to Cash for $864,000.
ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit to Cash for $2548000. debit to Cash of $2600000. credit to Discount on Bonds Payable for $52000. credit to Bonds Payable for $2652000.
On January 1, a company issues bonds dated January 1 with a par value of $210,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $218,105. The journal entry to record the issuance of the bond is: Multiple Choice O Debit Cash $218,105; credit Premium on Bonds Payable $8,105, credit Bonds Pable $210,000 Debit Cash $218,105,...
On January 1, a company issues bonds dated January 1 with a par value of $220,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $228,930. The journal entry to record the issuance of the bond is: Multiple Choice C Debit Cash $228,930; credit Bonds Payable $228,930 Debit Cash $228,930; credit Premium on Bonds Payable $8,930...
Culver Company issued $408,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and January 1. Culver Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.7705%. Prepare the journal entries to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account...
Legacy issues $710,000 of 8.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $621,812 and their market rate is 12% at the issue date. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' Issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $710,000 cash on January 1, 2017 at an issue price of $621,812. Note: Enter...
Hillside issues $4,000,000 of 6% , 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31 The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1, 2017, journal entry to record the bonds' issuance. 2d For each semiannual period, complete the table below to calculate the cash payment. 2( For each semiannual period, complete the table below to calculate the straight-line discount amortization. 20 For each semiannual period, complete...
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