Ivanhoe Company issued $680,000 of 5-year, 8% bonds at 96 on January 1, 2022. The bonds pay interest annually.
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- Marigold Corp. issued 3, 300 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. interest is paid each january 1. Prepare the journal entry to record the sale of these bonds on January 1, 2022.Naval Inc. Issued $20,000,000 face value bonds at a premium and recieved $21,450,000. At the end of 2019, the balance in the Premium on Bonds Payable account is $556,000. This year's balance sheet will show a net liability ofCrane Electric sold $6,240,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and paid interest annually on January 1. The bonds were sold at 98. At December 31, 2022, $12,480 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2022. (Enter account name only and do not provide descriptive information.) Crane ElectricBalance Sheet (Partial)choose the accounting period select an opening section name enter a balance sheet item $enter a dollar amount select between addition and deduction : enter a balance sheet item enter a dollar amount $enter a subtotal of the two previous amounts
- On January 1, 2025, Concord Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were issued for $537.196, and pay interest each July 1 and January 1. The effective-interest rate is 6%. Prepare the company's journal entries for (a) the January 1 issuance. (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Concord uses the effective interest method. (Round answers to 0 decimal places, eg, 38,548. If no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually List all debit entries before credit entries) No. (4) Date Account Titles and Explanation Debit CredWildhorse Co. issued $575,500 of 5-year, 5% bonds at 98 on January 1, 2020. The bonds pay interest annually.On January 1,2019, ABC Corporation issued a 5-year, 12%, 1,000 of the P 5,000 face value bonds with a yield of 10%. The bonds pay interest semi-annually every June 30 and December 31 of each year. On November 1, 2021, 700 of the P 5,000 bonds were retired at 105. How much is the carrying value of the bonds to be presented in the Statement of Financial Position of ABC Corporation as of December 31,2020 and December 31,2021,respectively? (For present value factors, do not round off) P 5,253,784.60 ; P 5,177,297.53 P 1,576,135.38 ; 1,553,189.26 P 1,576,135.38 ; P 5,177,297.53 P 5,253,784.60 ; 1,553,189.26
- On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this…Coronado Inc. issued $920,000 of 10%, 10-year bonds on June 30, 2025, for $814,472. This price provided a yield of 12% on the bonds. Interest is payable semiannually on December 31 and June 30. If Coronado uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2025. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) Interest expense to be recordedOn January 2, 2015, Blossom Corporation issued $1,600,000 of 10% bonds at 99 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.") The bonds are callable at 102 (i.e., at 102% of face amount), and on January 2, 2020, Blossom called $960,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Blossom as a result of retiring the $960,000 of bonds in 2020. (Round answer to 0 decimal places, e.g. 38,548.) Loss on redemption $ Prepare the journal entry to record the redemption. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent…
- On July 1, 2019, Rix Corporation had $10,000,000 of 9% bonds outstanding. The maturity date is June 30, 2024. Interest is paid semiannually every June 30 and December 31. All the bonds were redeemed on July 1, 2019, at 98. At the time of the bond redemption, there was unamortized bond premium of $60,000 and unamortized debt issuance costs of $100,000. What is the amount of the gain on the bond redemption?On January 1, 2025, Entity D issued $1,000,000 of 7%, 5-year bonds at 98. The bonds pay interest annually on December 31 and Entity D amortizes any premium or discount using the straight-line method. What is the annual interest expense on the bonds? $66,000. $74,000. $4,000. $70,000.1. On January 1, 2025, Waterway Company issued $408,000 of 9%, 10-year bonds at par. Interest is payable quarterly on April 1. July 1, October 1, and January 1. 2. On June 1, 2025, Wildhorse Company issued $360,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the following. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) a. The issuance of the bonds. b. The payment of interest on July 1. с The accrual of interest on December 31. Date Account Titles and Explanation Debit Credit 1. Waterway Company: 2. Wildhorse Company: