ctions for Zillow include an explanation for each entry A. Insurance if the bonds payable at par on July 1, 2018 B. Accrual of interest expense in December 31, 2017 C. Payment of cash in January 1, 2019 D. Payment of the bonds payable at maturity (give date) Record debits first then credits select the explanation on the last line of the journal entry table

Q: Oakley Company issued a $40,000, 10%, 10-year bond payable at 97 on January 1, 2024. Interest is…

A: If the issued Price is less than the face value , it will be treated as that Bonds are issued at…

Q: Un 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000 The company…

A: Bond is an instrument which is issued at par, discount or at premium.  When company required the…

Q: Super Splash issues $870,000, 7% bonds on January 1, 2021, that mature in 15 years. The market…

A: Semiannual interest payment = Face value of bonds x rate of interest x no. of months/12 = $870,000 x…

Q: Sheridan Company issued $311,500 of 7%, 10-year bonds on January 1, 2020, at face value. Interest is…

A: Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash $311,500…

Q: The Golden Company issues $518,000 of 12%, 10-year bonds at 103 on March 31, 2025. The bonds pay…

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

Q: Pharoah Company issues $2.90 million, 5-year, 7% bonds at 104, with interest payable annually…

A: Given that the bonds has been issued at premium and it has to be amortised on straight line basis.…

Q: Analyzing and journalizing bond transactions On January 1, 2018, Educators Credit Union (ECU) issued…

A: Bond financing is an instrument for borrowing the funds. The borrower has to pay a fix amount of…

Q: Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan…

A: Number of semiannual periods = 4 years x 2 semiannual period per year Number of semiannual periods =…

Q: Analyzing and Reporting Financial Statement Effects of Bond TransactionsWinston Inc. reports…

A: Complete the financial statement effects template to reflect the given events:

Q: Sheridan Company issued $279,000, 9%, 15-year bonds on December 31, 2021, for $267,840. Interest is…

A: In the given question we need to prepare the journal entries for following: (a)The issuance of the…

Q: On January 1, 2019, stated rate on the bonds is 7% and interest is payable annually each December…

A: Carrying value at end of year = Carrying value at beginning of year + discount amortization discount…

Q: 4.  On July1, 2018, Dixon Inc. issued bonds with a $500,000 face value at 96.0 and the 5-year bonds…

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: owe subject-Accounting On May 1, 2024, crane corp. issued 955,000 of 5-year, 7% bonds at $916,270.…

A: Each periodic payment on bonds is listed in a table called an amortization schedule over the course…

Q: Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31.…

A: 1. Date Account Titles and Explanation Debit Credit Jan. 1 Cash ($3,200,000*96/100)…

Q: Volunteer Inc. issued bonds with a $600,000 face value, 8% interest rate, and a 4-year term on July…

A: Given Information: Bonds issued at face value       $600,000 Amount received…

Q: Reporting Financial Statements Effects on Bond TransactionsOn January 1, 2016, McKeown Inc. Issued…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Volunteer Inc. issued bonds with a $700,000 face value, 10% interest rate, and a 4-year term on July…

A: Annual interest payment = Face value of bonds x rate of interest x Year = $700,000 x 10% = $70,000

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 January 1. 2017 JWS Corporation issued $600,000 7% Bonds due in 10 years The bonds were issued…

A: Given information is: Face value of bonds = $600,000 Interest rate = 7% Period = 10 years

Q: On April 1, 2020 , Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated…

A: Bonds are a form of debt taken by the company. Company has to make regular interest payments on…

Q: Select all that apply A company issues $100,000 of 6%, 10-year bonds dated January 1, that pay…

A: Lets understand the basics.Journal entry is required to make to record event and transaction that…

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: Moore Corp. issued 5.5​% two​-year bonds payable with a face amount of $60,000 when the market…

A: Bonds Payable - Bonds are the obligation that required to be paid at fixed duration of time. It…

Q: 1. Camden Co. issued $200,000 of 10%, 2 year bonds on January 1, 2018. The bonds pay interest on…

A: Solution A: Computation of bond price Table values are based on: n= 4     i= 6.00%…

Q: April 10, 2021 – Alfa Issued 170,000 bonds with a nominal value of € 1.5. The issuance had a…

A: Bonds: Bonds are the financial securities issued by a company over and above or less than its…

Q: help

A: Bonds are described as those securities which represent the amount of debt lent to the borrower.…

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: $750,000

A: Bonds payable refers to long-term debt basically issued by firms, governments, and hospitals.

Q: Laudie Company issued $400,000 of 5%, 10-year bonds on January 1, 2020, at 94. Interest is payable…

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

Q: On January 1, 2015, a company issues 5-year bonds with a stated interest rate of 6% and records the…

A: Interest payable on January 1 = Face value of bonds x rate of interest x 6/12 = $500000 x 6% x 6/12…

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: Legacy issues $740,000 of 7.5%, four-year bonds dated January 1, 2021, that pay interest…

A: Journal entries provide as the essential building blocks that provide answers to those and other…

Q: On May 1, 2020 Setup Inc, sold an issue of 5%, 1000 bonds dated January 1, 2020, to yield 5%. The…

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

Q: On January 1, 2017, JWS Corporation issued S600.000 7% Bonds due in 10 years. The bonds were issued…

A: Given that: Face value of bonds = $600,000 Interest rate = 7% Issue price = $599,224

Q: Yale Corporation issued to Zap Corporation $36,000, 8% (cash interest payable semiannually on July 1…

A: Working: Semiannual interest = Face value of the bonds x rate of interest x no. of months / 12 =…

Q: Kingbird corporation  issued $460,000 ,8% 20 year bonds on January  1 2022 for $418,008. This  price…

A: Discount on Bond = $460,000-$418,008 = $41992 Accrual interest     = $460,000*8% = $36800 Bond…

Q: The Colson Company issued S300.000 bonds at 98 on January 1, 2017. The bonds are due January 1,…

A: Given information is: Face value of bonds = $300,000 Issue price = 98 per bond

Q: Omar Company issued a $140,000, 11%, 10-year bond payable at 97 on January 1, 2024 Interest is paid…

A: If the issued Price is less than the face value, it will be treated as that Bonds are issued at…

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: sheridan Limited issued $4,500,000 10-year, 8% bonds on January 1, 2021, when the market interest…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.…