For each of the following situations, calculate the amount of bond discount or premium, if any. gray co. issues 61,000 of 6 percent bonds at 103 1/2 bush inc issued 91,000 of 10 year 6 percent bonds at 96 1/2 oak inc issued 240,000 of 20 year 6 percent bonds at 101 willow co issued of 15 year 7 percent bonds at 95

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: Please Provide answer as per posibility

A: Required 1 : Since the bond is sold AT PAR, the entry would be Debit Cash $500,000, Credit Bonds…

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: The following three companies issued the following bonds: 1. Carr, Inc. issued $100,000 of 8%,…

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Q: On January 1, 2020, ABC Company issued 5,000 of its 12%, P1,000 face value bonds for P5,350,000…

A: Accrued Interest on Bond: Accrued interest is the amount of interest earned on a debt(Bond) which is…

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Q: Determining Bond Features and Selling Price On January 1 of Year 1, the following debt was…

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

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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: 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: On July 1, Year 1, ABC Corp purchased 6.00% bonds having a maturity value of $100,000 for $105,079.…

A: Correct option is a. $142 Unrealized gain or loss recorded under OCI under December 31 year 1 is…

Q: Calculate the bond selling price for the three separate scenarios that follow. a. 33M Corp.…

A: Issue Price: $60,000Interest paid semiannually.Interest = 6% per annum (or) 6/2 = 3%…

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

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Q: Items 1 to 4 are based on the following information. On December 31, 2020, Fuslie Company issued…

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Q: On June 30, 2023, Blossom Limited issued $2 million of 20-year, 10% bonds for $2,184, 018, which…

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Q: Medhurst Corporation issued $86,100 in bonds for $83,000. The bonds had a stated rate of 8% and pay…

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Q: On January 1 of Year 1, the following debt was authorized and issued by Anderson Company. 1.…

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

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Q: On January 1, a company issued and sold a $420.000, 3%. 10-year bond payable, and received proceeds…

A: In order to determine the discount on bonds payable, the amount received from proceeds is required…

Q: Bond Investment Transactions Journalize the entries to record the following selected bond…

A: The formulation:

Q: Assume the bonds in were issued for $644,636 and the effective-interest rate is 6%, prepare the…

A: The objective of the question is to prepare the company's journal entries for the issuance of bonds…

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: Journalize the entries to record the following selected bond investment transactions for Starks…

A:

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: s Allegiant issues 7%, 20-year bonds with a par value of $2,000,000 and semiannual interest…

A:

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

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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: Nichols Inc. issued 3,000 $1,000 bonds at 102. Each bond was issued with one detachable stock…

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Q: Bonds Payable has a balance of $896,000 and Premium on Bonds Payable has a balance of $9,856. If the…

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

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Q: Koby Company issued $300,000 of bonds for $325,000. a. Determine the financial statement effect of…

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Q: Smith Corporation issues $1,800,000, 10-year, 9% bonds payable at a price of 98. The journal entry…

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Q: The notes to the Thorson Ltd. financial statements reported the following data on December 31, Year…

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

Q: ABC Company issued $20,000 of 5-year bonds, stated rate 10%, effective rate 8%, interest paid…

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Q: Situation te for the bond is 4%. te for the bond is 5%. Bond issued

A: Bonds are issued at a discount when the market rate is higher than the coupon rateBonds are issued…

Q: Prepare entry for bonds issued. BE10.8 (LO 3), AP Bridle Inc. issues $300,000, 10-year, 8% bonds at…

A: Introduction: When bonds are sold at a price lower than its face value then such bonds are issued at…

Q: None

A: Step 1: ParticularsAmount($)Bond discount  / PremiumExplanationa)$ 65000 @ 102.501625Bond…

Q: Five-year 6% bonds were issued on January 1, 2018, sold to yield 8% interest. Interest is paid…

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Q: The Fuller Company issued a $500,000, 5-year, 6% bond at par. It is a semiannual bond with interest…

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Q: Blanca Company has the following independent bond issuances. a.) Issues $600,000 bonds at 96. b.)…

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

Q: Determining Bond Features and Selling Price On January 1 of Year 1, the following debt was…

A: When a bond, i.e., a debt security that doesn't provide interest (also known as coupons), and rather…

Q: Granville Company issued a $6,300,000 in 8%, 10-year bonds when the market rate of interest is 10%.…

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Q: end. What should be the balance of the Fair on Bonds Payable? Show Value Adjustment your work.

A: Bonds payable is the payable of the bonds which has been issued by the company and which is the…