eBookShow Me Howly WorkJournalize the bond issuance. If an amount box does not require an entry, leave it blank.gmentsessidLocator=&inprogress=falseIssuing Bonds at a Discountof $1,196,745.On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x 2), receiving cash000000Save0PreviousUpd.Next

You can add to or modify the accounting for a financial transaction using a journal entry. The total…

eBook Show Me How G ← 10 (5) Up Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x ½), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

eBook Show Me How G ← 10 (5) Up Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x ½), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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eBook y Work Show Me How ator=&inprogress=false Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $1,300,000, 12%, 6-year bond that pays semiannual interest of $78,000 ($1,300,000 x 12% x 2), receiving cash of $1,196,745. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Save and Exi Previous Upd. Next
5 0 V File C13 123456 7 89 Home 18 19 20 Insert Arial X ✓ fx Face amount of bonds Contract rate of interest Draw Term of bonds, years Market rate of interest Interest payment Page Layout く 10 Formulas DATA B ✓ ✓ V Data A B C Compute bond proceeds, amortizing discount by interest method, and interest expense Av $80,000,000 9% 5 11% Semiannual Review Amount ... View Ev ab ≡く D Using formulas and cell references, perform the required analysis, and input your answers into the Amount column. Transfer the numeric results for the green entry cells (C13:C16) into the appropriate fields in CNOWv2 10 for gradina. 11 12 13 a. PV of cash proceeds 14 b. Discount amortized for the 1st interest payment period 15 c. Discount amortized for the 2nd interest payment period 16 d. Interest expense for the 1st year 17 Help Formulas Editing ✓ Currency E $ 500 ✓ C →>>
How do I journalize the bonds at face amount?
Please do not give solution in image format thanku
How do I jernalize it
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
eBook On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds with a face value of $910 for $85,800. The bonds had a stated rate of 5% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank.
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Knowledge Check 01 On January 1, Duffy Enterprises issued $100,000 in bonds that mature in 10 years. The bonds were issued at face value. The bonds have a stated interest rate of 8% and pay interest once per year on December 31. Prepare the appropriate journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) - View transaction list View journal entry worksheet No 1 Transaction A Gain on Bond Retirement Interest Expense General Journal Debit 104,000 Credit 8,000 Ⓒ
A9
2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress3false eBook Show Me How Calculator Print Item Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $18,200,000 of five-year, 9% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Chin receiving cash of $16,828,145. a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) If an amount box does not require an entry, leave it blank. Round your…
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