Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Question

Question

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium

On the first day of the fiscal year, a company issues a $2,800,000, 7%, 7-year bond that pays semiannual interest of $98,000 ($2,800,000 × 7% × ½), receiving cash of $3,127,344.

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Account	Debit	Credit
Cash	3,127,344
Bonds payable		2,800,000
Premium on Bonds Payable		327,344

Add a comment

Answer 2

Similar Homework Help Questions

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,800,000, 8%, 6-year bond that pays semiannual interest of $112,000 ($2,800,000 x 8% x V), receiving cash of $3,230,825. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Premium Amortization On the first day of the fiscal year, a company issues a $3,000,000, 12%, 4-year bond that pays semiannual interest of $180,000 ($3,000,000 x 12% V),...
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues an $5,800,000, 8%, 9-year bond that pays semiannual interest of $232,000 ($5,800,000 × 8% × ½), receiving cash of $6,182,502. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable On the first day of the fiscal year, a company issues a $6,000,000, 11%, 4-year bond that pays semiannual interest of...
1-Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

1-Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,500,000, 12%, 4-year bond that pays semiannual interest of $150,000 ($2,500,000 × 12% × ½), receiving cash of $2,661,579. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 2-Premium Amortization On the first day of the fiscal year, a company issues a $2,600,000, 9%, 9-year bond that pays semiannual interest of $117,000 ($2,600,000 × 9% ×...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,500,000, 6%, 8-year bond that pays semiannual interest of $165,000 ($5,500,000 x 6% %). receiving cash of $5,859,013. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Check My Work 2 more Check My Works remaining Premium Amortization On the first day of the fiscal year, a company issues a $5,500,000, 10%, 6-year bond that pays...
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues an $4,400,000, 7%, 9-year bond that pays semiannual interest of $154,000 ($4,400,000 X 7% x V), receiving cash of $5,389,476. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $3,500,000, 11%, 5-year bond that pays semiannual interest of $192,500 ($3,500,000 × 11% × ½), receiving cash of $3,925,823. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable

help please!! Issuing Bonds at a Premium On the first day of the fiscal year, a...

help please!! Issuing Bonds at a Premium On the first day of the fiscal year, a company issues an $2,300,000, 8%, 9-year bond that pays semiannual interest of $92,000 ($2,300,000 x 8% x W), receiving cash of $2,616,332 Journalize the bond issuance. If an amount box does not require an entry, leave it blank Premium Amortization On the first day of the fiscal year, a company issues an $8,900,000, 12%, 9-year bond that pays semiannual interest of $534,000 ($8,900,000 x...
TO Lacalor Printem Issuing Bonds at a Premium On the first day of the fiscal year,...

TO Lacalor Printem Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,600,000, 12%, 6-year bord that pays semiannual interest of $456,000 (57.600.000 * 12% receiving cash of $8,273,607 ), Journalize the bond issuance. If an amount box does not require an entry, leave blank.
Journalize the bond issuance Issuing Bonds at a Premium On the first day of the fiscal...

Journalize the bond issuance Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,000,000, 7%, five-year bond that pays semiannual interest of $175,000 ($5,000,000 x 7% X 1/2), receiving cash of $5,400,000. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 135,000 Interest Expense X Premium on Bonds Payable Cash X 40,000 X 175,000

Issuing Bonds at a Discount On the first day of the fiscal year, a company issues...

Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $3,000,000, 12%, 4-year bond that pays semiannual interest of $180,000 ($3,000,000 × 12% × ½), receiving cash of $2,908,670. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues...

Homework Answers