Homework Answers
Add Answer to:
A company issues 7% bonds with a par value of $140,000 at par on January 1...
A company issues 9%, 7-year bonds with a par value of $260,000 on January 1 at...
A company issues 9%, 7-year bonds with a par value of $260,000 on January 1 at a price of $273,732, when the market rate of interest was 8%. The bonds pay interest semiannually. The amount of each semiannual interest payment is: A) $23,400. B) $11,700. C) $0. D) $20,800. E)$10,400. A company must repay the bank a single payment of $26,000 cash in 6 years for a loan it entered into. The loan is at 7% interest compounded annually. The...
A company issues 9% bonds with a par value of $50,000 at par on January 1....
A company issues 9% bonds with a par value of $50,000 at par on January 1. The market rate on the date of issuance was 8%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bond holder(s) is: 5 Multiple Choice points Σ 02:15:43 Ο Ο S2,250. Ο 54,500. Ο Ο 52,000. Ο Ο 50. Ο S4,000.
On July 1, Shady Creek Resort borrowed $410,000 cash by signing a 10-year, 10% installment note...
On July 1, Shady Creek Resort borrowed $410,000 cash by signing a 10-year, 10% installment note requiring equal payments each June 30 of $66.726. What is the journal entry to record the first annual payment? Multiple Choice Ο C) Debit Cash $410,000, debit interest Expense $66,726: credit Notes Payable $476,726. Ο Debit interest Expense $66,726, credit Cash 566,726 Ο Debit interest Expense $41.000, credit Cash $41,000 Ο Debit interest Expense $41,000; debit interest Payable $25.726, credit Cash $66,726 Ο Debit...
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per...
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per share. Three years later, it repurchases these shares for $82 per share. Anthem records the repurchase in which of the following ways? Multiple Choice Debt Stockholders' Equity for $30.40 million credit Additional Paid in Capital for $15.40 million and credit Cash for $16.40 million Debit Common Stock for $6,000, debit Additional Paid-in Capital for $16,394 000 and credit Cash for $16.40 million Oo oo...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted to 52,400 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except Multiple Choice Debit to Bonds Payable $314,400. Credit to Paid-In Capital in Excess of Par Value, Common Stock $66,000. Credit to Common Stock $262,000. Debit to Premium on Bonds Payable $13,600. Debit to Bonds Payable $328,000.
On January 1, a company issues bonds dated January 1 with a par value of $650,000....
On January 1, a company issues bonds dated January 1 with a par value of $650,000. The bonds mature in 3 years. The contract rate is 6%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $626,000. The journal entry to record the first interest payment using straight-line amortization is: Multiple Choice Debit Interest Payable $19,500; credit Cash $19,500. 0 Debit Interest Expense $19,500; credit Cash $19,500. 0 Debit Interest Expense $23,500, credit...
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680....
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680. If Retained Earnings had a credit balance of $66,640 after closing entries were made for the year, and if additional stock of $14.560 was issued during the year, what was the amount of dividends declared during the year? Multiple Choice Ο 536,400 Ο 566.360 Ο $48.100 Ο Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares...
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,...
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000...
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares issued, and 46,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Ο O Debit Dividends Payable and credit Cash for $36,750 Ο Debit Dividends and credit Dividends Payable for $36.750, Ο Debit Dividends and credit Dividends Payable for $34.500 Ο O Debit Dividends Payable and credit Cash for $90.000 A company issued 8% preferred...
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...
A company issues 9% bonds with a par value of $50,000 at par on January 1. The market rate on the date of issuance was 8%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bond holder(s) is: 5 Multiple Choice points Σ 02:15:43 Ο Ο S2,250. Ο 54,500. Ο Ο 52,000. Ο Ο 50. Ο S4,000.
On July 1, Shady Creek Resort borrowed $410,000 cash by signing a 10-year, 10% installment note requiring equal payments each June 30 of $66.726. What is the journal entry to record the first annual payment? Multiple Choice Ο C) Debit Cash $410,000, debit interest Expense $66,726: credit Notes Payable $476,726. Ο Debit interest Expense $66,726, credit Cash 566,726 Ο Debit interest Expense $41.000, credit Cash $41,000 Ο Debit interest Expense $41,000; debit interest Payable $25.726, credit Cash $66,726 Ο Debit...
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per share. Three years later, it repurchases these shares for $82 per share. Anthem records the repurchase in which of the following ways? Multiple Choice Debt Stockholders' Equity for $30.40 million credit Additional Paid in Capital for $15.40 million and credit Cash for $16.40 million Debit Common Stock for $6,000, debit Additional Paid-in Capital for $16,394 000 and credit Cash for $16.40 million Oo oo...
On January 1, $314,400 of par value bonds with a carrying value of $328,000 is converted to 52,400 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except Multiple Choice Debit to Bonds Payable $314,400. Credit to Paid-In Capital in Excess of Par Value, Common Stock $66,000. Credit to Common Stock $262,000. Debit to Premium on Bonds Payable $13,600. Debit to Bonds Payable $328,000.
On January 1, a company issues bonds dated January 1 with a par value of $650,000. The bonds mature in 3 years. The contract rate is 6%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $626,000. The journal entry to record the first interest payment using straight-line amortization is: Multiple Choice Debit Interest Payable $19,500; credit Cash $19,500. 0 Debit Interest Expense $19,500; credit Cash $19,500. 0 Debit Interest Expense $23,500, credit...
The Retained Earnings balance was $64120 on January 1. Net income for the year was $50,680. If Retained Earnings had a credit balance of $66,640 after closing entries were made for the year, and if additional stock of $14.560 was issued during the year, what was the amount of dividends declared during the year? Multiple Choice Ο 536,400 Ο 566.360 Ο $48.100 Ο Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares...
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,...
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares issued, and 46,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Ο O Debit Dividends Payable and credit Cash for $36,750 Ο Debit Dividends and credit Dividends Payable for $36.750, Ο Debit Dividends and credit Dividends Payable for $34.500 Ο O Debit Dividends Payable and credit Cash for $90.000 A company issued 8% preferred...
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...
Most questions answered within 3 hours.
-
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 7 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 8 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 11 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 14 minutes ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 15 minutes ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 25 minutes ago -
The phylum Protista has often been referred to as a junk drawer
of classification. Explain what...
asked 32 minutes ago -
The average amount of money spent for lunch per person in the
college cafeteria is $7.09...
asked 34 minutes ago -
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 53 minutes ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 56 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 59 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 1 hour ago