Accounting for Debt Securities–Available-for-Sale Hilyn Company had the following transactions and adjustments related to a bond...
Accounting for Debt Securities—Available-for-Sale Hilo Company had the following transactions and adjustments related to a bond investment: 2019 Jan. 1 Purchased $800,000 face value of Cynad, Inc.’s 9 percent bonds at 99 plus a brokerage commission of $1,400. The bonds pay interest on June 30 and December 31 and mature in 20 years. Hilo does not expect to sell the bonds in the near future, nor does it intend to hold the bonds to maturity. June 30 Received the semiannual...
Accounting for Debt Securities- Held-to-Maturity Kurl Company had the following transactuons and adjustments related to a bond investment: Accounting for Debt Securities-Held-to-Maturity Kurl Company had the following transactions and adjustments related to a bond investment: 2016 Jan. Purchased $600,000 face value of Sphere, Inc.'s 9 percent bonds at 102 plus a brokerage commission of $900. The bonds pay interest on June 30 1 and December 31 and mature in 10 years. Kuri expects to hold the bonds to maturity. June...
Accounting for Debt Securities—Trading Gressens Company had the following transactions and adjustments related to a bond investment: 2016 Oct. Purchased $500,000 face value of Skyline, Inc.'s 7 percent bonds at 97 plus a brokerage commission of $1,000. The bonds pay interest on September 30 and March 31 and mature in 20 years. Gressens 1 expects to sell the bonds in the near future. Dec. 31 Made the adjusting entry to record interest earned on investment in the Skyline bonds. Dec....
11:28 PR 14 4A Entries for bonds payable and installment note transactions The following transactions were completed by Winklevoss Ine, whose fiscal year is the calendar year 2016 July 1 Issued $74,000,000 of 20 year, 11% callable bonds dated July 1, 2016, at a mar- 64 317 346 ket (effective) rate of 15%, receiving cash of $64,532,267 Interest is payable semiannually on December 31 and June 30 Oct 1 Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks...
I just need help with number 3. I can't figure out what the discount amortized is for the different years PR 14-4A Entries for bonds payable and installment note transactions OBJ. 3,4 The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 2016 July 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a mar- ket (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31...
Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $6,600,000 of five-year, 5% callable bonds dated July 1, Year 1, at a market (effective) rate of 7%, receiving cash of $6,325,552. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of s27,445 is combined with the semiannual interest...
Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 20Y1 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 20Y1, at a market (effective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is combined with the semiannual interest payment. 20Y2...
................. Entries for Bonds Payable, including bond redemption The following transactions were completed by Montague Inc., whose fiscal year is the calendar year: 20Y1 July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1, 20Y1, at a market (effective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $390,852 is combined with the semiannual interest payment....
Debt Investment Transactions, Avallable-for-Sale Valuation Dollar Mart Inc. is a general merchandise retail company that began operations on January 1, 2016. The following transactions relate to debt investments acquired by Dollar Mart Inc., which has a fiscal year ending on December 31: 2016 May 1 June 16 Purchased $84,000 of Elkin City 4%, 10-year bonds at their face amount plus accrued interest of $560. The bonds pay interest semiannually on March 1 and September 1. Purchased $134,000 of Morgan Co....
please solve this for me, thanks PR 14-5A Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount On July 1, 2016, Merideth Industries Inc. issued $28,500,000 of 10-year, 8% bonds at a market (effective) interest rate of 9%, receiving cash of $26,646,292. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Joumalize the entry to record the amount of cash...