On Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds with a face value of $990 for $112,200. The bonds had a stated rate of 10% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Cash v

On Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds with a face value of $990 for $112,200. The bonds had a stated rate of 10% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Cash v

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $550,000, 10%, 10-year bond that pays semiannual interest of $27,500 ($550,000 × 10% × ½ year), receiving cash of $550,000. (a) Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. (b) Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank. (c) Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank.
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,700,000, 7%, 10-year bond that pays semiannual interest of $304,500 ($8,700,000 × 7% × ½), receiving cash of $10,833,863. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $860 for $89,900. The bonds had a stated rate of 10% and paid interest semi-annually. What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Jan. 1 - Select - - Select - - Select - - Select - - Select - - Select -
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,600,000, 6%, 6-year bond that pays semiannual interest of $48,000 ($1,600,000 × 6% × ½), receiving cash of $1,682,063. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 日

Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $3,000,000, 8%, 10-year bond that pays semiannual interest of $120,000 ($3,000,000 x 8% x ½ year), receiving cash of $3,000,000. (a) Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. fill in the blank 9d9394057ff7054_2 fill in the blank 9d9394057ff7054_3 fill in the blank 9d9394057ff7054_5 fill in the blank 9d9394057ff7054_6 (b) Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank. fill in the blank 56f0d5fb403dff9_2 fill in the blank 56f0d5fb403dff9_3 fill in the blank 56f0d5fb403dff9_5 fill in the blank 56f0d5fb403dff9_6 (c) Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank. fill…
Lunar Corporation issued $80,000 in bonds for $87,000 on Jan. 1. The bonds had a stated rate of 8% and pay interest quarterly. What is the journal entry to record the first interest payment?
eBook On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds with a face value of $910 for $85,800. The bonds had a stated rate of 5% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank.
ll. Subject :- Accounting
Jan 1, 16, Google issues 3,000 of its 10%, 1,000 bonds for 3,120,000. These bonds were to mature on Jan 1,26 . Interest was payable semiannually on July 1 & Jan 1. Bond premium was amortized on straight line basis. 1. What is the carrying amount of the debt on July 1, 21? 2. What is the journal entry that would be made on dec. 31, 21
5
A9
On Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds with a face value of $920 for $105,200. The bonds had a stated rate of 10% and paid interest semi-annually. What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Jan. 1 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9