Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1400 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated July 1, 2022 were issued at 101. 3. On September 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date if issuance

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A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

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A: Bonds Payable:Bonds Payable is an long term debt issued by the government and company's to raised…

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A: The discount on bonds arises when the market offers higher interest earnings than the bonds. The…

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A: Market Price of the bonds = Present value of principal + Present value of interest payments = face…

Q: PA6. 13.3 Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

A: Bonds are the highly secured debt securities which are redeemed after a certain span of time.

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A: The bonds payable are the long-term liabilities of the business. The bonds are issued at premium…

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A: 'Since you have posted two different questions, we will solve the first question for you as per the…

Q: Massy Company issued $4,000,000 of 10-year, 11% bonds on January 4, 2021. The bonds pay interest…

A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…

Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…

A: Solution Given Face value 8000000 Life 10 year Coupon rate 8% Market rate…

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A: Discount on bond Payable means the bond issued at a less amount from its face value.  The journal…

Q: PB5. LO 13.3Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

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

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

A:

Q: 6. Farhan Corporation issued $ 1,000,000 of 8%, 28-year bond on January 1, 2020, at 119.792 to yield…

A: The bonds are issued at premium and further semi-annual interest is paid. The journal entries are to…

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A: Issue price of bonds will be present value of maturity & interest annuity at yield rate.

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A: Redemption value = face value x redemption price  = 1000000 x 96/100 = P960,000

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A: Overhead costs include office rent, utilities, insurance, and employee salaries. While some overhead…

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A: Issuing bonds at a premium occurs when a company sells its bonds to investors at a price exceeding…

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A: Number of bonds payable = P1,000,000P100 = 10,000

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A: Here asked for the bond valuation and its calculation to make the effective bond valuation related…

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A: The question is based on the concept of Financial Management.

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A: The correct answer is: (B) Credit of $5,437

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A: As per US GAAP, Interest on financial Liability is to be booked using the amortized cost method,…

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A: Journal Entry Journal entries are made up of two parts: debits and credits. Debits are dollar…

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A: The bonds are the financial instruments for the business used to raise money from the market. The…

Q: Sheridan Company has issued three different bonds during 2022. Interest is payable annually on each…

A: Introduction: The term journal refers to a 'book' or 'diary,' and entry implies writing anything…

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A: Journal entry refers to the classifying and recording of daily transactions initially into books of…

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A: Solution Carrying value of bond refer to the net amount between the bonds face value plus any…

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A: Bonds payable is one of the form of liability being incurred in business, on which regular interest…

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

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A: Bond is debt instrument used by organizations to raise debt funds from public. Bondholders are paid…

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A: Bond Amortization table is a year-wise summary of bond's carrying amount, interest expenses and…

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A: When a bond is issued at premium, the amount received excess of fair value should be recorded under…

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A: The present value of the bond issued by Numbers Company on June 1, 2023 is 4,759,815.00.…

Q: On January 1, 2020, Sheffield Corp. issued $4500000, 10-year, 4% bonds at 102. Interest is payable…

A: The journal entries are prepared to record the transactions on a regular basis. The bonds are issued…