B Ltd. Issued 2,000, 6% debentures of Rs.50 each. Give journal entries if the debentures are – · Issued at par and redeemable at par, · Issued at a discount of 10% and redeemable at par. · Issued at a premium of 10% and redeemable at par. · Issued at par and redeemable at a premium of 10%. · Issued at a discount of 10%, and redeemable at a premium of 10%. You are also required to show how the items will appear in the Balance Sheet of the above cases.

Q: jan 1 a co. issued and sold a 408,000, 9%, 10-year bond payable, and received proceeds of 403,000.…

A: Discount on  bonds to be amortized over period of bond

Q: Text LO 13.2 Following is a list of scenarios, Identify if the bond was issued at par, premium or…

A: Hi student Since there are multiple questions, we will answer only first question.  Bonds payable is…

Q: Fox Co. purchases land on January 1 of Year 1 and issues a 3-year, $70,000 zero-interest-bearing…

A: The zero interest-bearing notes are the ones which does not carry an interest rate which means they…

Q: Tomasovich Inc. issued bonds with a face value of $ 100,000 and a stated rate of 8%. Tomasovich…

A: Journal Entry is CrDrCash account   $102,500To Bonds Payable account$100,000   To Premium on bonds…

Q: ABC Company issued $100,000 in bonds for $98,000. The bonds had a stated rate of 12% and pay…

A: The objective of the question is to determine the correct journal entry to record the first interest…

Q: Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: If $800,000 of 11% bonds are issued at 102 3/4, the amount of cash received from the sale is Oa.…

A: Given, Bonds = $800,000 of 11% Rate = 102 3/4 = 102.75%

Q: On 1/3/2013, a company purchased 10 bonds with a nominal value of 5000 dinars per bond and bears an…

A: Here in this case we are required to make entry for the purchase of bond and its interest. when we…

Q: assume that as of December 31, 10,400 of the $2-off coupons issued during November has been redeemed…

A: To journalize the entry for the remaining unredeemed coupons, we need to record the estimated…

Q: If $1,034,000 of 6% bonds are issued at 102 3/4, the amount of cash received from the s Oa.…

A: Cash received from sale of bond. It assumed that the face value of bond is $100. At face value $100…

Q: Lewis Corporation issued $520,000 of 7%, 10-year bonds payable at a price of 93. The market interest…

A: The journal entry (b) correctly records the first semiannual interest payment using the effective…

Q: Keaubie Co. issued $250,000, 6%, 10-year bonds payable at a price of 102, on Jan. 1a.Journalize the…

A: A bond is one of the sources of debt financing that is generally issued by companies in order to…

Q: Assume the bonds in were issued for $644,636 and the effective-interest rate is 6%, prepare the…

A: The objective of the question is to prepare the company's journal entries for the issuance of bonds…

Q: Gingerbread Corp was issued a $250,000 loan at 8% with a five year maturity date. The partial…

A: Given: Loan = $250,000 Interest rate =8% Years = 5

Q: Williams Company issued $600,000 of 10%, 5-year bonds. Interest is paid semiannually, and…

A: Interest expense is defined as the cost of borrowing the amount or money, in short, it is the price…

Q: A $294,000 bond was redeemed at 98 when the carrying amount of the bond was $286,650. The entry to…

A: Proceeds from redemption  = $294,000 * 98/100 = $288,120

Q: A $288,000 bond was redeemed at 98 when the carrying amount of the bond was $280,800. The entry to…

A: Lets understand the basics. For calculating gain/loss on redemption of carrying value of bond, we…

Q: On November 1, Year 1 Shelter Company loaned $4,000 cash to Cove Company. The one-year note carried…

A: Solution: Amount of loan given to Cove company results in outflow of cash and receipt of note…

Q: 15. ABC Company Issues $100,000 of 30 year 5% bonds at 102. What entry is used to record this…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Nichols Inc. issued 3,000 $1,000 bonds at 102. Each bond was issued with one detachable stock…

A: Proportional Method of Allocation between bond and Warrant The division of the proceeds from a bond…

Q: Horizons plc had the following bank loans outstanding during the whole of 20X8 which form the…

A: Capitalized interest is defined as the interest amount a borrower has not paid to the lender which…

Q: Sheridan Company issued $6,500,000 of 6%, 10-year bonds for $5,614,000. The straight- line method of…

A: Bonds are the obligation for an entity. These are issued for raising funds from the market. These…

Q: Smith Corporation issues $1,800,000, 10-year, 9% bonds payable at a price of 98. The journal entry…

A: The bonds payable are reported as the long-term liabilities. The bonds are issued to raise the money…

Q: If $1,012,000 of 12% bonds are issued at 102 1/2, the amount of cash received from the sale is a.…

A: Interest Rate = 12%Face Value = 100Present Value = 102.5

Q: Account balances and information relating to bonds payable during the year: B/P Premium on B/P…

A: Journal Entries for Bonds Payable Transactions:1. Bond Issuance for Land: Debit: Land ($20,000 x…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.