Brooke Company issued P6,000,000 , 11%, 10-year bonds on May 31, 2020 when the market interest was 10%. The bonds are priced at 106.25. The bonds pay interest on May 31 and November 30. 1. What is the carrying amount of the bond on December 31,2020 statement of financial position? 2. What is the total interest expense that Brooke Company will record the year 2020?

Q: LA Fitness Company issued a $10,000,000, 5-year, 7% callable bond on January 1, 2018, when the…

A: In the given question neither the face value of bond , nor the issue price of bond is given.…

Q: On January 1, 2023, Jones Corporation issued $2.982.000, 9%, 5-year bonds with interest payable on…

A: Interest expense on bonds is calculated at the market rate of interest on the issue value of the…

Q: Take me to the text On October 1, 2020, Robby Company issued $251,000 worth of bonds at par, with…

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

Q: On January 1, 2020, Everly Bottle Company sold $3,000,000 in long-term bonds. The bonds will mature…

A: The journal entry is the first stage in entering a transaction into the books of accounts. Bonds are…

Q: On October 1, 2021, Monty Corp. issued $828,000, 7%, 10-year bonds at face value. The bonds were…

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

Q: A company issues $25100000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on…

A: Carrying Amount of Bonds = Face Value of Bonds - Unamortized Balance of Discount. Discount on Bonds…

Q: Devin Company computes the following bond interest amortization table for bonds issued on January 1,…

A: A bond is a fixed pay instrument issued to represents to an advance made by a financial specialist…

Q: Porter, Inc. issued $400,000, 10-year, 10% bonds for $354,200 on January 1, 2022; the bonds pay…

A: Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…

Q: Price Company issues $400,000, 20-year, 7% bonds at 101. Prepare the journal entry to record the…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: NY Fitness Company issued $10,000,000, 5-year, 7% callable bond on January 1, 2018 when the market…

A: Bond: It is  the  loan paid  by an investor to a borrower. Bonds are used by companies. Interest is…

Q: On July 1, 2018, McNamara Company issued for $598,964, 10%, 20-year bonds with a face value of…

A: When bonds are issued at premium the premium on bonds payable is amortized over the life of the…

Q: On January 1, 2018, Wawatosa Inc. issued 7-year bonds with a face value of $100,000 and a stated…

A: Issue price of the bonds = Present value of principal + Present value of interest payments where,…

Q: On March 1, 2024, Baddour, Incorporated, issued 10% bonds, dated January 1, with a face amount of…

A: Bonds are bearer financial instruments with fixed interest that businesses issue to raise capital.…

Q: On January 1, 2020, Everly Bottle Company sold $4,000,000 in long-term bonds. The bonds will mature…

A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Q: On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were…

A: Interest accrued on dec 31, 2021 = face value x rate of interest x no. of months/12 = $864000 x 8% x…

Q: Bonds with a stated interest rate of 9% and a face value totaling $626,000 were issued for $651,040…

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

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: On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $165…

A: 1. Compute amount of bonds report in its balance sheet as shown below:     Working note:   Compute…

Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…

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

Q: On January 1, 2018, Wauwatosa Inc. issued 5- year bonds with a fave value of $200,000 and a stated…

A: When the issue price of the bond is higher than its face value, the bonds are said to be issued at a…

Q: Bob's Hamburgers issued 6%, 10-year bonds payable at 70 on December 31, 2024. Al December 31, 2026,…

A: Bonds -An investor's debt to a borrower is represented by a bond, a fixed-income instrument. In…

Q: The following section is taken from Oriole Company's balance sheet at december 31, 2021. Current…

A: for more information ping me, Happy learning.

Q: On June 1, 2018, Ken Company sold $200,000 in long-term bonds for $175,520. The bonds have a stated…

A: a.Bond Amortization table for first 4 year   Period Ending Beginning of Period Net Book Value…

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

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: Frozen Company issues $33,600 of ten year bonds on January 1, 2020 at 108. It uses the straight line…

A: INTRODUCTION: When bonds are issued, cash is received, and bonds payable are credited. But, if a…

Q: On January​ 1, 2023, Jones Corporation issued​ $2,982,000, 9%, 5 - year bonds with interest payable…

A: Bonds is a long-term debts issued by the government and companies to raise funds for their…

Q: On November 1, 2018, Sigma Inc. invests in $1,000,000 of 5%, 10-year bondsissued by Microsoft…

A: Correct Option is “a”: Interest Revenue. After Investing in November 2018, the interest revenue will…

Q: On January 1, 2025, Paxton Planning Services issued $56,000 of 2% bonds that mature in five years.…

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

Q: The Windy City Company issued $500,000 of 12% bonds on January 1, 2020. The bonds were sold for…

A:

Q: de, Inc. issued $758,000 of bonds on December 15, 2022, when the market rate of interest was 6%. The…

A: Here are the journal entries to record the issuance of the bonds on December 15, 2022, and the…

Q: Quick Lane Auto Service issued $50,000, 10-year bonds on January 1, 2021. of interest on the bonds…

A: Bonds payable are always recorded at the par value of the bonds. Discount or premium on bonds…

Q: On March 1, 2024, Baddour, Incorporated, issued 10% bonds, dated January 1, with a face amount of…

A: The discount or premium on an issued bond is amortized to find the carrying value of the bond…