Assume that the Valenzuela Corporation issues P1,000,000, 5-year, 12% bonds on March 2020. bonds, dated January 2, 2020, pay interest semiannually on January 2 and July 1. Requirement(s)

Q: 1.Prepare the journal entry on January 1, 2021, to record interest paid.

A: Given information is: Wildhorse Corporation issued 4,100, 6%, 5-year, $1,000 bonds dated January 1,…

Q: Wildhorse Corporation issued 4,100, 6%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest…

A: Total cash received from Bond issue = 4100*$1000 = $4,100,000

Q: issued $630,000, 9%, 5-year bonds at face value.

A: Journal entries refers to the act of making transactions in the form of either economic or…

Q: Al-Teeb Company issued OR 40,000, 3.5%, 15-year bond payable at 104 on January 1, 2018 Required:…

A: Issue value of Bonds = Face value of bonds x issue price = 40,000 x 104/100 = 41,600

Q: A. On January 1, 2021, Bradley Company issued $100,000, 9%, 4-year bonds. Interest is paid…

A:

Q: 9. Rodriquez Corporation issued a $300,000, 9%, 8-year bond payable on January 1, 2024. Journalize…

A: BOND  Bond is a Financial Securities which is Generally Issued by the Corporation's &…

Q: On August 1, 2022, Blue Spruce Corp. issued $481,200, 7%, 10-year bonds at face value. Interest is…

A: Note​ payable: Note​ payable is an instrument through which borrower obtains money from lender and…

Q: Question 8: On January 1, 2019, Western Manufacturing Corporation issued $3,000,000, 10%, 5-year…

A: Bonds are kinds of instrument issued by company acknowledging the debt due by company to outsider.…

Q: Part2: On March 1, 2020, Quinto Mining Inc. issued a $690,000, 8%, three-year bond. Interest is…

A: Bonds are the securities which are issued to generate funds by the company and these are the…

Q: The Golden Company issues $539,000 of 7%, 10-year bonds at 104 on March 31, 2019. The bonds pay…

A: An interest-bearing bond is a type of debt security issued by a borrower, typically a corporation or…

Q: Logan Inc issued a $1,600,000, 6% 10 year bond at 88 on January 1, 2018. 1. Journalize the issuance…

A: Bonds are the debts of an issuing company that is repayable after a specific period of time, it may…

Q: b) The following section is taken from Nolana Sdn Bhd's statement of financial position at December…

A: Amount paid at the time of redemption = RM1,600,000 × RM104RM100= RM1,664,000

Q: If the company issued RO 100,000 , 5% interest, 10-year bonds at 98 on January 1, 2021, which of the…

A: Answer Bond issued = RO98 Face value per BOND = RO100 Discount price per BOND = (RO100 - RO98) = RO2…

Q: On April 1, 20x1, an entity issues bonds with face amount of P5,000,000 for P5,415,183, including…

A: A per PFRS 9 Financial instruments an issue of bond is a financial liability which can be accounted…

Q: X Corporation borrowed money by issuing $100,000 of bonds at 103 on January 1, 2019. The bonds pay…

A: Introduction:- A journal entry is an act of recording or keeping track of any financial or…

Q: On August 1, 2022, Martinez Corp. issued $489,600, 6%, 10-year bonds at face value. Interest is…

A: When the bonds are issued then cash will receive so cash account would be debited and bond payable…

Q: On January 1, 2020, Cullumber Company issued $400,000, 10%, 10-year bonds at face value. Interest is…

A: Bonds- These are the debts of a company on which interest is payable after a fixed interval i.e.…

Q: nd July 1. Prepare the entry to record the payment of interest on July 1, 2021

A: 1. Amount of interest to be paid is calculated on the face value.    2. Journal entry for recording…

Q: On August 1, 2022, Martinez Corp. issued $489,600, 6%, 10-year bonds at face value. Interest is…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: On August 1, 2022, Bridgeport Corp. issued $483,600, 7%, 10-year bonds at face value. Interest is…

A: given that, Bridgeport Corp. issued bonds worth $483600 Rate of interest = 7% life of bond = 10…

Q: On August 1, 2022, Skysong, Inc. issued $450,000, 10%, 10-year bonds at face value. Interest is…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is…

A: As per accrual principle of accounting, all the expenses need to be accounted for within the…

Q: Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest…

A: Solution (4) : Date Particulars Debit Credit 30 June , 2019 Interest expense 19,598.50…

Q: Crane Corporation issued 2,100, 9%, 5-year, $1,000 bonds dated January 1, 2020, at 100. Interest is…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: On January 1, 2020, Sheridan Company issued $351,500, 6%, 5-year bonds at face value. Interest is…

A: Interest expense = Par value of bonds x Interest rate = $351,500 x 6% = $21,090

Q: On January 1, 2020, Klosterman Company issued $500,000, 10%, 10-year bonds at face value. Interest…

A: SOLUTION-                                                                      JOURNAL ENTRIES…

Q: Novak corp. Issued $417,000,11% 15 year bonds on december  31,2021 for $404,490.interest  is payable…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Question 7: Messi issues $3,400,000 of 10%, 10-year bonds dated January 1, 2019, that pay interest…

A: Bonds payable are long-term liabilities in which the bonds have been issued in lieu of the amount…

Q: An accounting example: Otter Products inc issued bonds on January 1, 2019. Interest to be paid…

A: A bond amortization schedule refers to the presentation of complete payments over the maturity…

Q: On September 31, 2021, an entity issues bonds with face amount of P8,000,000 for P9,105, 022…

A: Cash proceeds P9,105,022 Accrued Interest (P8,000,000 *9 /12 * 9%) (P540,000) Face Value of…

Q: Record the issue of the bonds on July 31,2024. (List debit entry before credit entry.  Record the…

A: BOND Bond is a Financial Securities which is Generally Issued by the Corporation's, Government &…