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: Allegiant issues 6%, 20-year bonds with a par value of $2,000,000 and semiannual interest payments.…

A: YTM (yield to maturity) is the total return anticipated on a bond if it is held until its maturity…

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

A: Using straight line amortization, the premium or discount on bonds payable is amortized equally for…

Q: Bond prices depend on the market rate of interest, stated rate and time Compute the price of the…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: Bonds Payable has a balance of $1,137,000 and Discount on Bonds Payable has a balance of $13,644. If…

A: Bonds: Bonds is a long-term liability of a company where it has to repay the principal amount  along…

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: 12. On 1/1/21, AB Company sold $100,000, 10%, 10 year bonds at 96. Complete the entries for the bond…

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

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

A: Bonds are financial instruments issued to raise funds in consideration of interest payment. Bonds…

Q: Bonds Payable has a balance of $908,000 and Premium on Bonds Payable has a balance of $9,988. If the…

A: Introduction: Bonds payable are recorded when a company issues bonds to make income. Because it is a…

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: If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has…

A: BOND Bond is a Financial Security which is Generally Issued by the Corporations, Government &…

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: 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: KC Corporation issued bonds with a total par value of $100,000 on 1/1/20x1. The following loan…

A: BOND Bond is a Financial Security which is Generally Issued by the Corporations, Government &…

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: On January 1, Solofind, Inc. issued a 10-year monthly bond with a face value of $1,760,000 that pays…

A: Bonds are referred to as debt instruments which represents the loans made to the borrower and…

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

A: Redemption of Bonds: The process of repaying the sale amount of bonds to bondholders at the time of…

Q: A bondholder that owns a $1,000, 6%, 15-year (term) bond has

A: Given that , principal = $1,000 Interest = 6% Period = 15 year

Q: Bonds Pavable has a balance of $1.184.000 and Discount on Bonds Payable has a balance of $11.840. If…

A: Let’s assume the par value is $100 Total number of bonds issued would be : $11,84,000 / $100 i.e…

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: Determining Bond Selling Price Calculate the bond selling price for the three separate scenarios…

A: Bond: -Bond is the written promise to pay the face value and interest at a stated contract is known…

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

A: The journal entries are prepared to record the transactions on regular basis. The bonds are issued…

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: On January 1, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $4,300,000. The…

A: Bonds payable is one of the liability being incurred in business. There can be long term bonds or…

Q: None

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

Q: A corporation issues $26,000,000 of 9% bonds to yield interest at the rate of 7%. (a) Was the amount…

A: Note: When market or effective rate of interest is less than the interest rate on bonds then bonds…

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

A: The bonds of The Fuller Company are issued at par value, and the following accounts can be used to…

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: BlueLtd. issued a $1,164,000, 10-year bond dated January 1, 2020. The bond was sold to yield 12%…

A:

Q: Enviro Company issues 11.00%, 10-year bonds with a par value of $310,000 and semiannual interest…

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

Q: a On January 1, Year 1, Sheffield Company issued bonds with a face value of $480,000, a term of ten…

A: In essence, a bond is a loan made by an investor to a borrower, usually a company or the government.…

Q: BE10.9 (LO 3), AP Ravine Company issues $400,000, 20-year, 7% bonds at 101. Prepare the journal…

A: Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…