Homework Answers
| Bond interest exp.( 26880 - 2820 ) | 24060 | |
| Premium on bonds payable ( 350100 - 336000 ) / 5 years | 2820 | |
| Cash ( 336000 * 8 % ) | 26880 |
Option B is correct.
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Multiple choice Question 155 A corporation issues $336000, 5 year bonds on January 1, 2020, for...
A corporation issues $399000, 8%, 5-year bonds on January 1, 2020, for $415800. Interest is paid...
A corporation issues $399000, 8%, 5-year bonds on January 1, 2020, for $415800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is $35280 O $3360 $28560. $31920.
ment CALCIATO FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 152 A corporation issues $228000,...
ment CALCIATO FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 152 A corporation issues $228000, 10%, 5-year bonds on January 1, 2020, for $218400. Interest amount of bond interest expense to be recognized in December 31, 2020 adjusting entry is paid annually on January 1. If the corporation uses the straight line method of amortization of bond discount, the O $24720 O $22800. Os20350 $1920 Question Attempts of 1 used
Multiple Choice Question 221 On January 1, Riverbed Corp issues $3360000, 5-year, 12% bonds at 97...
Multiple Choice Question 221 On January 1, Riverbed Corp issues $3360000, 5-year, 12% bonds at 97 with interest payable on January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line method will include a debit to Interest Expense, 201600. , debit to Interest Expense, 403200. O credit to Discount on Bonds payable, 20160. O credit to Discount on Bonds Payable, $10080. Question Attempts: 0 of 1 used SAVE FOR...
Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1....
Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and...
Sunland Company issues $5,000,000, 10-year, 10% bonds at 96, with interest payable annually on January 1....
Sunland Company issues $5,000,000, 10-year, 10% bonds at 96, with interest payable annually on January 1. The straight-line method is used to amortize bond discount. A) Prepare the journal entry to record the sale of these bonds on January 1, 2020. B) Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2020.
On January 1, 2020, NoDice Corporation issues $540,000, 5-year, 12% bonds for $529,000
On January 1, 2020, NoDice Corporation issues $540,000, 5-year, 12% bonds for $529,000. Interest is paid semiannually on January 1 and July 1. NoDice Corporation uses the straight-line method of amortization. The company's fiscal year ends on December 31. The amount of bond interest expense on July 1, 2020 is: $31,300 $33,500 $32,400 $65,900
Ivanhoe Inc. issues $2,000,000, 5-year, 14% bonds at 101, with interest payable annually on January 1....
Ivanhoe Inc. issues $2,000,000, 5-year, 14% bonds at 101, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and...
What is the answer, and how do you get it? A corporation issues $273000, 10%, 5-year...
What is the answer, and how do you get
it?
A corporation issues $273000, 10%, 5-year bonds on January 1, 2020, for $261600. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is O $27300. O $25020. O $2280. O $29580.
Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1...
Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1 . The straight-line method is used to amortize bond premium Your answer is partially correct. Try again Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. D not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Debit Credit 38000000 Discount on Bonds Payable 2000000 Bonds Payable...
A corporation issued $580000, 10%, 5-year bonds on January 1, 2020 for $626400, which reflects an...
A corporation issued $580000, 10%, 5-year bonds on January 1,
2020 for $626400, which reflects an effective-interest rate of 7%.
Interest is paid annually on January 1. If the corporation uses the
effective-interest method of amortization of bond premium, the
amount of bond interest expense to be recognized on December 31,
2020, is
$40600.
$43848.
$58000.
$62640.
A corporation issues $399000, 8%, 5-year bonds on January 1, 2020, for $415800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is $35280 O $3360 $28560. $31920.
ment CALCIATO FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 152 A corporation issues $228000, 10%, 5-year bonds on January 1, 2020, for $218400. Interest amount of bond interest expense to be recognized in December 31, 2020 adjusting entry is paid annually on January 1. If the corporation uses the straight line method of amortization of bond discount, the O $24720 O $22800. Os20350 $1920 Question Attempts of 1 used
Multiple Choice Question 221 On January 1, Riverbed Corp issues $3360000, 5-year, 12% bonds at 97 with interest payable on January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line method will include a debit to Interest Expense, 201600. , debit to Interest Expense, 403200. O credit to Discount on Bonds payable, 20160. O credit to Discount on Bonds Payable, $10080. Question Attempts: 0 of 1 used SAVE FOR...
Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and...
What is the answer, and how do you get
it?
A corporation issues $273000, 10%, 5-year bonds on January 1, 2020, for $261600. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is O $27300. O $25020. O $2280. O $29580.
Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1 . The straight-line method is used to amortize bond premium Your answer is partially correct. Try again Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. D not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Debit Credit 38000000 Discount on Bonds Payable 2000000 Bonds Payable...
A corporation issued $580000, 10%, 5-year bonds on January 1,
2020 for $626400, which reflects an effective-interest rate of 7%.
Interest is paid annually on January 1. If the corporation uses the
effective-interest method of amortization of bond premium, the
amount of bond interest expense to be recognized on December 31,
2020, is
$40600.
$43848.
$58000.
$62640.
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