Five thousand bonds with a face value of $2000 each, are sold at 112. The entry to record the issuance is Cash 11200000        Bonds Payable   11200000 Cash 11200000        Discount on Bonds Payable   1200000      Bonds Payable   10000000 Cash 11200000        Premium on Bonds Payable   1200000      Bonds Payable   10000000 Cash 10000000   Premium on Bonds Payable 1200000        Bonds Payable   11200000

Q: A $294,000 bond was redeemed at 104 when the carrying value of the bond was $349,000. The entry to…

A: Par value of the bond = $294,000 Redemption value = $294,000 * 104% = $305.760 Carrying value of the…

Q: A $540,000 bond issue on which there is an unamortized discount of $45,000 is redeemed for $446,000.…

A: When bonds were issued on discount, company receives the face value less discount amount

Q: ABC Company issued bands with a face amount of $1,000,000 and received $1,000,000 cash. Prepare the…

A: Solution: Bond are issued by the company to obtain debt financing. Bonds carry interest rate that…

Q: The Reagan Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2014, at 92. The…

A: JOURNAL ENTRIES   Journal Entry is the First stage of Accounting Process. Journal Entry is the…

Q: Five thousand bonds with a face value of $2000 each, are sold at 106. The entry to record the…

A: When bonds are issued at premium  the difference  between  face value and issue proceeds  is…

Q: A $505,000 bond issue on which there is an unamoritizer discount of $37,000 is redeemed for…

A: As we know that the term redemption has various utilizations in the money and business world,…

Q: 6400 bonds with a face value of $1000 each, are sold at 105. The entry to record the issuance is…

A: Bonds Payable are liabilities that are issued by the borrower to the payee. It is a promissory note…

Q: On January 1, 2025, Cowell Services issued $200,000 of 4% bonds that mature in ten years. The bonds…

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

Q: TryNErr Corporation issued $1,000,000 of ten-year, 10% bonds payable. The market rate of interest at…

A: A bond refers to the instrument which is issued by the government to borrow money when needed. It is…

Q: Tomasovich Inc. issued bonds with a face value of $ 100,000 and a stated rate of 8%. Tomasovich…

A: Journal Entry is CrDrCash account   $102,500To Bonds Payable account$100,000   To Premium on bonds…

Q: Medhurst Corporation issued $92,700 in bonds for $90,000. The bonds had a stated rate of 10% and pay…

A: Premium (Discount) on bonds issue = Selling price of the bonds - Face value of bonds = $90,000 -…

Q: A company received cash proceeds of $206,948 on a bond issue with a par value of $200,000. The…

A: Cash proceeds = $206,948 Par value = $200,000 Premium = 206,948-200,000 = $6,948

Q: ABC Company issued $100,000 in bonds for $98,000. The bonds had a stated rate of 12% and pay…

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

Q: Green Co. issued $400,000 of 12%, 10 year bonds on January 1 at 98. Interest is payable semiannually…

A: The bonds-are issued at discount of Rs. 2 per bond. Therefore, total cash received on issue date =…

Q: EWO Enterprises issues $4,500,000 of bonds payable.Required:Prepare the necessary journal entries to…

A: Journal is the book of original entry in which all the transactions of the business are recorded…

Q: On July 1, 2010, Boston Corporation issued bonds with a face value of $500,000. The bonds carry a…

A: Bonds payable is one of the liability being incurred in business. Interest payments needs to be made…

Q: If 70 $1000 bonds with a carrying value of $84000 are redeemed for $79000, the journal entry to…

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

Q: the first interest payment on June 30, 2025, what is the balance of Discount on Bonds Payable?…

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

Q: Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal…

A: Bonds worth $1000 are issued at 98% of face value. This means 2% is a discount. Concord corporation…

Q: A company issues bonds with a face value of $5,000,000 and receives cash proceeds of $5,500,000 from…

A: Journal entries are prepared to record the financial and non financial transactions of the business…

Q: A $500,000 bond issue on which there is an unamortized discount of $50,000 is redeemed for $475,000.…

A: Given Information:  Issue of bonds = $500,000 Unamortized discount = $50,000 Redeemed for = $475,000

Q: Medhurst Corporation issued $91,900 in bonds for $89,000. The bonds had a stated rate of 6% and pay…

A: Bonds are a form of debt or loan issued by the company, on which business has to make regular…

Q: Make a journal entry to record the issuance of a bond with a face amount of $1,000,000 sold at 98.

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: A $1,600,000 bond issue on which there is an unamortized premium of $70,500 is redeemed for…

A: The company shares, bonds, debentures, etc., will be issued to meet the capital requirement of the…

Q: Complete the following: (a) Prepare the journal entry to issue $100,000 bonds that sold for…

A: Lets undertand the basics. Bonds can be issued at par value, at discount or at premium. If bond is…

Q: balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000. If the issuing…

A: Answer : Bonds payable balance = $1,000,000 Discount on bonds payable = $10,000

Q: Blue Spruce Corp. issues 6400, 10-year, 8%, $1000 bonds dated January 1, 2017, at 101. The journal…

A: Answer is option a)  credit to Bonds Payable for $6400000.

Q: A $294,000 bond was redeemed at 98 when the carrying amount of the bond was $286,650. The entry to…

A: Proceeds from redemption  = $294,000 * 98/100 = $288,120

Q: On January 1, 2025, First Secure Services issued $130,000 of 10% bonds that mature in ten years.…

A: Whenever a firm issues bonds to earn cash, bonds payable are usually recorded. The corporation seems…

Q: 17. Alvin Jackson Co. issued $10,000 of bonds on January 1, 2021. The bonds pay interest…

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

Q: Federer Corporation issued $540,000 in bonds for $498,600. The bonds had a stated rate of 12% and…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: A $288,000 bond was redeemed at 98 when the carrying amount of the bond was $280,800. The entry to…

A: Lets understand the basics. For calculating gain/loss on redemption of carrying value of bond, we…

Q: A$1,000,000 bond is issued on 7/1. The transaction is recorded on 7/1 by the UCF Bicycle Vending…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: Gabriela has the following income for the quarter

A: As per the provisions of Burau of Internal Revenue , Phillipines , quarterly…

Q: A $530,000 bond issue on which there is an unamortized discount of $37,000 is redeemed for $476,000.…

A: Bonds are the securities that are issued by the business entities or government to raise funds from…

Q: 15. ABC Company Issues $100,000 of 30 year 5% bonds at 102. What entry is used to record this…

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

Q: ive thousand bonds with a face value of $2000 each, are sold at 93. The entry to record the issuance…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: Superior drive ins Ltd borrowed money by issuing $5500,000 of 6% bonds payable at 93.5 on July…

A: solution : given : face value of bond       =$5500,000 coupon rate                   =6% issue price…

Q: Medhurst Corporation issued $82,900 in bonds for $80,000. The bonds had a stated rate of 6% and pay…

A: Bonds are issued by the company to meet the financial requirements of the company without losing its…

Q: Five thousand bonds with a face value of $1000 each, are sold at 91. The entry to record the…

A: Bond interest is a monthly payment provided to bondholders by a bond issuer as compensation for…

Q: On December 31 Wintergreen, Incorporated, issued $150,000 of 7 percent, 10-year bonds at a price of…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: A $485,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for $472,000.…

A: Journal entry:A journal entry is simply a record of a transaction relating to business in your…

Q: Journalize the redemption of the bonds

A: Redemption of bond means discharging the liability of bond by paying off it in cash or cash…