6400 bonds with a face value of $1000 each, are sold at 105. The entry to record the issuance isCashDiscount on Bonds PayableBonds PayableCashPremium on Bonds PayableBonds PayableCashBonds PayableCashPremium on Bonds PayableBonds Payable67200006720000672000064000003200003200006400000320000640000067200006720000

Bonds Payable are liabilities that are issued by the borrower to the payee. It is a promissory note…

Answered: 6400 bonds with a face value of $1000…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 16MC: Keys Inc. issued 100 bonds with a face value of $1,000 and a rate of 8% at $1,025 each. The journal...

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Keys Inc. issued 100 bonds with a face value of $1,000 and a rate of 8% at $1,025 each. The journal entry to record this transaction includes ________. A. a credit to Bonds Payable for $102,500 B. a credit to cash for $102,500 C. a debit to cash for $100,000 D. a credit to Premium on Bonds Payable for $2,500
If 70 $1000 bonds with a carrying value of $84000 are redeemed for $79000, the journal entry to record the transaction is Bonds Payable Premium on Bonds Payable Cash Bonds Payable Cash Gain on Bond Redemption Discount on Bonds Payable 14000 Bonds Payable Cash 70000 Bonds Payable 14000 84000 84000 70000 84000 79000 19000 84000 C M Q M oʻ
Five thousand bonds with a face value of $2000 each, are sold at 112. The entry to record the issuance is Cash 11200000 Bonds Payable 11200000 Cash 11200000 Discount on Bonds Payable 1200000 Bonds Payable 10000000 Cash 11200000 Premium on Bonds Payable 1200000 Bonds Payable 10000000 Cash 10000000 Premium on Bonds Payable 1200000 Bonds Payable 11200000
Five thousand bonds with a face value of $1000 each, are sold at 102. The entry to record the issuance is Cash 5100000      Discount on Bonds Payable 100000      Bonds Payable 5000000 Cash 5100000      Bonds Payable 5100000 Cash 5000000 Premium on Bonds Payable 100000      Bonds Payable 5100000 Cash 5100000      Premium on Bonds Payable 100000      Bonds Payable 5000000
Five thousand bonds with a face value of $2000 each, are sold at 89. The entry to record the issuance is Cash 8900000      Premium on Bonds Payable 1100000      Bonds Payable 10000000 Cash 8900000      Bonds Payable 8900000 Cash 10000000      Discount on Bonds Payable 1100000      Bonds Payable 8900000 Cash 8900000 Discount on Bonds Payable 1100000      Bonds Payable 10000000
Five thousand bonds with a face value of $2000 each, are sold at 106. The entry to record the issuance is 1-    Cash 10600000      Premium on Bonds Payable 600000      Bonds Payable 10000000 2-1      Cash 10000000 Premium on Bonds Payable           600000              Bonds Payable 10600000 3-    Cash 10600000             Bonds Payable 10600000 4-      Cash 10600000      Discount on Bonds Payable 600000      Bonds Payable 10000000
Bonds Payable has a balance of $900,000 and the Premium on Bonds Payable account has a balance of $45,000. The carrying amount of the bonds is: Group of answer choices $945,000 $45,000 $900,000 $855,000
Sunland Company received proceeds of $533000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $500000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $40800 O $42640 O $40000 O $4264
A $990,000 bond issue on which there is an unamortized premium of $67,000 is redeemed for $816,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable Bonds Payable Premium on Bonds Payable Premium on Bonds Payable Gain on Redemption of Bonds Gain on Redemption of Bonds Cash Cash
Bonds Payable has a balance of $802,000 and Discount on Bonds Payable has a balance of $9,624. If the issuing company redeems the bonds at 98, what is the amount of gain or loss on redemption?
The balance in the Bonds Payable account is a credit of $67,000. The balance in the Discount on Bonds Payable account is a debit of $3350. What is the bond's carrying amount?
On January 1, Pina Inc. issued $101050000, 9% bonds at 103. The journal entry to record the issuance of the bonds will include O a credit to Bonds Payable for $104081500. a credit to Interest Expense for $3031500. O a credit to Premium on Bonds Payable for $3031500. O a debit to Cash for $101050000.

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