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A business sold all of the business bonds on 01.07.2016 with a nominal value of TL 1,000 and an annual interest rate of 45%, 200 of which were purchased for trading purposes on 01.03.2016.(Assume that the market rate and the bond rate are the same.) According to this information, which of the following is correct in the
a. Private Sector Bonds, Notes and Bills Account 200.000 credit
b. Banks Account TL 200,000 debit
c. Banks Account 290.000 debit
d. Loss on sale of marketable securities 90.000 debit
e. Gain on sale of marketable securities 90.000 credit
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- Splish Brothers Inc. issues $520,000, 20-year, 10% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation June 1 eTextbook and Media SUPPORTIvanhoe Company issued $459,000, 8%, 30-year bonds on January 1, 2017, at 103. Interest is payable annually on January 1. Ivanhoe uses straight-line amortization for bond premium or discount.Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2017. (c) The payment of interest on January 1, 2018. (d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. No. Date Account Titles and Explanation Debit Credit (a) Jan. 1, 2017 enter an account title to record the issuance of the bonds on January 1, 2017 enter a debit amount enter a credit amount enter an account title to record the issuance of the bonds on January 1, 2017 enter a debit amount…Cullumber Corporation issues $430,000 of bonds for $447,200. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit
- Adcock Company issued $276,000, 8%, 20-year bonds on January 1, 2015, at 105. Interest is payable semiannually on July 1 and January 1. Adcock uses straight-line amortization for bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2015 Prepare the journal entry to record the payment of interest and the premium amortization on July 1, 2015, assuming that interest was not accrued on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1, 2015 Prepare the journal entry to record the accrual of…At December 31, 2022, the trading debt securities for Sheridan, Inc. are as follows. Security A (a) B C Cost $17,800 12,000 Dec. 31 22,900 $52,700 Fair Value $16,300 13,600 19,400 $49,300 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit er Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No- for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit CreditPrepare Hertog Company's journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,990. June 6 Sells its entire investment in Kraft bonds for $11,510 cash. View transaction list Journal entry worksheet 1 2 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,990. Note: Enter debits before credits. Date May 07 Record entry General Journal Clear entry Debit Credit View general journal >
- Oriole Company issued $510,000 of bonds on January 1, 2020. (a) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later I Debit 510000 Credit 510000 Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Submit Answer(Use the following information for questions 2 and 3) Always Be Counting Co. issued callable bonds on January 1, 2016. ABC's accountant has created the following amortization schedule from issuance until maturity: olqar zi ning of boong noilmogtoo olosu 12 gnello stated in tra Date 1/1/2016 6/30/2016 12/31/2016 6/30/2017 12/31/2017 6/30/2018 12/31/2018 000 6/30/2019 12/31/2019 Show Transcribed Text Cash as the Effective interest a. 3% b. 3.5% Ⓒ6% d. 7% interest $7,000 7,000 7,000 7,000 7,000 7,000 no 07,000 7,000 a. No gain or loss. b. $3,717 gain. c. $6,000 loss. d. $2,283 loss. $6,211 10 $207,020 Star W $789 206,230 6,187 813 205,417 6.163 837 204,580 6,137 863 203,717 6,112 888 202,829 6,085 vol 915 a 201,913 pent 200,971 200,000 Decrease in Outstanding Carry balance 6,0570943 A 6,029 What was the market rate of interest on ABC's bonds at the time of issuance? G I 971 2. What was the market rate of interest on ABC's bonds at the time of issuance? CV. I Int expense = * J Carrying…Requ a. Using the present value tables in Chapter 6, calculate the proceeds (issue price) of Learned, Inc.'s, bonds on January 1, 2013, assuming that the bonds were sold to provide a market rate of return to the investor. b. Assume instead that the proceeds were $93,000,000. Use the horizontal model (or write the journal entry) to record the payment of semiannual interest and the related premium amortization on June 30, 2013, assuming that the premium of $3,000,000 is amortized on a straight-line basis. o 0ompound interest method
- Carla Vista Co. issued $475,000, 15-year, 5% bonds at 96. Prepare the journal entry to record the sale of these bonds on January 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1 Cash Bonds Payable Premium on Bonds Payable Textbook and Media Debit Credit 475000Crane Company issued $740,000, 10-year, 5% bonds at 103. Prepare the journal entry to record the sale of these bonds on January 1, 2022. Date Account Titles and Explanation Debit Credit Jan. 1 enter an account title to record the sale of these bonds on January 1, 2017enter an account title to record the sale of these bonds on January 1, 2017Help me