If $1,034,000 of 6% bonds are issued at 102 3/4, the amount of cash received from the sale isOa. $1,096,040Ob. $1,062,435Oc. $775,500Od. $1,034,000

Cash received from sale of bond. It assumed that the face value of bond is $100. At face value $100…

Answered: If $1,034,000 of 6% bonds are issued at…

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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If $571,000 of 9% bonds are issued at 98, the amount of cash received from the sale is a.$519,610 b.$571,000 c.$559,580 d.$622,390
If $1,153,000 of 9% bonds are issued at 102 1/2, The amount of cash received from the sale is a.$1,153,000 b.$864,750 c.$1,256,770 d.$1,181,825
If $325,000 of 9% bonds are issued at 96, what is the amount of cash received from the sale? Select the correct answer. $325,000 $295,750 $312,000 $354,250
Eddie Industries issues $926,000 of 8% bonds at 102. The amount of cash received from the sale is a.$926,000 b.$1,000,080 c.$898,220 d.$944,520
If $510,000 of 8% bonds are issued at 94, the amount of cash received from the sale is a.$479,400 b.$510,000 c.$469,200 d.$550,800
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If $307,000 of 7% bonds are issued at 94, the amount of cash received from the sale is Oa. $307,000 Ob. $285,510 O c. $288,580 Od. $328,490
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If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is a. $2,100,000 b. $1,940,000 c. $2,060,000 d. $2,000,000
On January 1, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $2,300,000. The bonds pay interest semiannually. The marke rate of interest is 9.5% and the bond selling price was $2,143,712. The bond issuance should be recorded as: Multiple Choice 22 Debit Cash $2,300,000; credit Bonds Payable $2,300,000. Debit Cash $2143,712; credit Bonds Payable $2,143,712. Debit Cash $2,300,000; credit Bonds Payable $2,143,712: credit Discount on Bonds Payable $156,288. Nohit Cach 2143712 dehit Diecount on Ronds Pavahle $156.288 crerdit Ronds Pavahle 2 300 000 Mc Graw Hill 9:12 P 96% Type here to search 3/21/20
A $10,000 bond quoted at 106 would sell for: A. $10,106. B. $106. C. $10,000. D. $10,600.
MegaHoldings Group, a significant conglomerate, and MiniFirm Ltd, its subsidiary, are involved in a financial transaction. Initially, on January 1, 2021, MegaHoldings Group issued bonds into the financial market. Two years later, on January 1, 2023, MiniFirm Ltd bought these bonds from the market entirely. The financial specifics for this transaction have been updated as follows: Bonds Nominal (Face) Value of the bonds: $1,000,000 Coupon Rate: 6% Initial Bond Release by MegaHoldings Group. Issuance Price: $807,470 Market Rate: 9% Bond Acquisition by MiniFirm Ltd. Acquisition Price: $1,064,632 Market Rate at Acquisition: 5% Please select the right consolidation entry [B] Multiple Choice Bonds Payable (B/P) 1,000,000 Interest Revenue 53.232 Loss on Retirement of Bonds 230,678 Discounts on Bonds Payable (B/P) 150,990 Investment in Bonds 1,057,864 Interest Expense 75,056

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If $1,034,000 of 6% bonds are issued at 102 3/4, the amount of cash received from the s Oa. $1,096,040 Ob. $1,062,435 Oc. $775,500 Od. $1,034,000