Answered: A $7,000; 9% bond is sold at 93. When…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A5
If $639,000 of 10% bonds are issued at 95, the amount of cash received from the sale is a.$702,900 b.$639,000 c.$575,100 d.$607,050
1c. Sold $80,000 of the bonds at 101 plus accrued interest of $250. DATE Debit Credit X/X
If $457,000 of 8% bonds are issued at 94, what is the amount of cash received from the sale? Select the correct answer. A. $420,440 B. $457,000 C. $429,580 D. $493,560
If $1,059,000 of 12% bonds are issued at 102 3/4, the amount of cash received from the sale is a. $1,186,080 b. $1,088,123 c. $1,059,000 d. $794,250
If $1,051,000 of 12% bonds are issued at 102 1/2, The amount of cash received from the sale is:
If $571,000 of 9% bonds are issued at 98, the amount of cash received from the sale is a.$519,610 b.$571,000 c.$559,580 d.$622,390
If $1,153,000 of 9% bonds are issued at 102 1/2, The amount of cash received from the sale is a.$1,153,000 b.$864,750 c.$1,256,770 d.$1,181,825
The Fuller Company issued a $500,000, 5-year, 6% bond at par. It is a semiannual bond with interest paid on June 30th and December 31st. The entry to record the sale of the bond would include a: A. $500,000 credit to Cash. B. $500,000 credit to Bonds Payable. C. $30,000 debit to Interest Expense. D. $500,000 debit to Accounts Payable.
BlueLtd. Issued a $1,164,000, 10-year bond dated January 1, 2020. The bond was sold to yield 12% effective interest. The bond paid 10% interest on January 1 and July 1 each year. The company's year-end was December 31, and Blue followed IFRS. Using 1 factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount received for the bond, and any discount or premium on the bond. Click here to view the tactor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITYOF 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answers to 0 decimal places, e.g. 5,275.) Proceeds from sale of bond : on bond Prepare the journal entries for above transactions. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the…
If $510,000 of 8% bonds are issued at 94, the amount of cash received from the sale is a.$479,400 b.$510,000 c.$469,200 d.$550,800
How do I jernalize it

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A $7,000; 9% bond is sold at 93. When the bond is issuede the Cash account will be incerased by : A. $7,490. B. $7,140. C. $6,510. D. $7,000.