A corporation issues $354000, 10%, 5-year bonds on January 1, 2020, for $339000. 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

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A: Discount on bonds payable is first calculated which is the difference of Bonds par value and the…

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A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

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Q: n January 1, 2020, Ehrlich Corporation issued 7%, 15-year bonds with a face amount of $900,000 at…

A: The bonds are the financial instruments that are issued to raise money from the market or investors.…

Q: On January 1, 2019, the JSW Corporation issued 10% bonds with a face value of $100,000. The bonds…

A: Answer - Working Note : The computation of the interest expense is shown below:   The bond interest…

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A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200

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A: Bonds are debt instruments issued by organizations to raise funds to meet various requirements. The…

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A: Accrued Interest- In accounting, accrued interest refers to the sum of interest that has been…

Q: On January 1, 2021. Aloha corporation issued $300,000, 3%, 5-years bonds at 97 (a discount of…

A: Par Value of Bonds Payable $300000 Issue price of the Bond at 97% = $291000 Discount on…

Q: Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds:…

A: Bond is a form of debt used by the entity to raise money for various purposes such as operations,…

Q: Polk Incorporated issued $200,000 of 13% bonds on July 1, 2019, for $206,801.60. The bonds were…

A: The following computations are done for Polk Incorporation.

Q: A corporation issues $300,000, 10%, 5-year bonds on January 1, 2020, for $287,400. Interest is paid…

A: INTRODUCTION: Bonds are corporate debt units that are issued by firms and securitized as tradeable…

Q: On January 1, 2021, Concord Corporation issued its 10% bonds in the face amount of $8070000, which…

A: Step 1: Compute the amount of interest expense: Interest expense=$9152978*8%=$732238 Step 2: Compute…

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A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

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A: Given, Bonds of $440,000 are issued for $419,000 at a discount of $21,000.   Annual Interest on…

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Q: 1. The carrying value of the bonds on December 31, 2020 is $ 2. The fair value of the bonds on…

A: Given in the question: Number of bonds issued 64 Face Value per bond $1,000…

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A: Bonds can be defined as a financial instrument which provides regular income to the bondholder in…

Q: A corporation issues $300,000, 10%, 5-year bonds on January 1, 2020, for $287,400. Interest is paid…

A: Determine unamortized discount as of Jan. 1, 2020.

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Q: On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest…

A: Bond :— It is one of the type of securities that pays fixed periodic interest and face value amount…