On January 1, 2018, Wauwatosa Inc. issued 5- year bonds with a fave value of $200,000 and a stated interest rate of 12% payable semi-annually on July 1 and January 1. The bonds were sold to yield 10%. Assuming the bonds were sold at 107.732, what is the selling price of the bonds? Were they issued at a discount or a premium?

Q: LA Fitness Company issued a $10,000,000, 5-year, 7% callable bond on January 1, 2018, when the…

A: In the given question neither the face value of bond , nor the issue price of bond is given.…

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,400 million on…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

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

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A: The journal entry is the first stage in entering a transaction into the books of accounts. Bonds are…

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A: Bond Issued = 8% or 4% SemiannuallyBonds were priced to yield = 10% or 5% Semiannually Calculation…

Q: The Smart Company sold $500,000 of 8 percent, 20-year bonds on April 1, 2011, at 105. The semiannual…

A: The objective of the question is to calculate the interest expense for the bond interest payment on…

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

Q: NY Fitness Company issued $10,000,000, 5-year, 7% callable bond on January 1, 2018 when the market…

A: Bond: It is  the  loan paid  by an investor to a borrower. Bonds are used by companies. Interest is…

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A: Bonds are a type of loan that is, obtained by company in exchange of predetermined rate of interest…

Q: On January 1, 2018, Wawatosa Inc. issued 7-year bonds with a face value of $100,000 and a stated…

A: Issue price of the bonds = Present value of principal + Present value of interest payments where,…

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A: 1. Calculate the price Ithaca would have paid for the Cortland bonds on January 1, 2018 prepare a…

Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…

A: Solution Given Face value 8000000 Life 10 year Coupon rate 8% Market rate…

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A: A bond is a debt security, similar to an IOU. Borrowers issue bonds to raise money from investors…

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A: Bond amortization refers to the value which is paid at every period including the amount of…

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A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

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A: 1. Compute amount of bonds report in its balance sheet as shown below:     Working note:   Compute…

Q: On July 1, Somers Inc. issued $200,000 of 10 %, 10-year bonds when the market rate was 12%. The…

A: Issue price of the bonds means the cash received from the issue of the bonds. Issue price of the…

Q: A. On January 1, 2021, Bradley Company issued $100,000, 9%, 4-year bonds. Interest is paid…

A:

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A: Bond :— It is one of the source of capital that pays fixed periodic interest and face value amount…

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A: Carrying value of the bonds payable is the value of the bonds on the books inculing the face value…

Q: $939,000 to yield 10%. Alquds uses the effective-interest method of amortizing bond discount.…

A: Un amortized bond discount ,7/1/ Year 1   Bond discount amortization ,7/1/ Year 1 to  6/30/Year3:…

Q: On January 1, 2018, Oman Cables Industry (SAOG) issued 12% bonds dated January 1, 2018, with a…

A: Bonds are the debts for the company issued to the investors at fixed rate of interest. There are…

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A: Face Value of the bonds = $576,000Life = 10 YearsCoupon rate = 5% p.a.Market rate of interest = 8%…

Q: On July 1, Somers Inc. issued $300,000 of 10%, 10-year bonds when the market rate was 12%. The bonds…

A: Issue price of bonds refers to the price at which the bonds are actually issued.

Q: 3. Terry Company is authorized to issue P5,000,000 of 6%, 10- year bonds dated July 1, 2011 with…

A: Face value of bond: P5,000,000 Cash received by the company: P5,150,000 Interest rate: 6% Discount…

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A: Bonds are the instrument acknowledging debt due from one party to another party on specified future…

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A: The bonds are the financial instruments for the business which are used to raise money from the…

Q: On June 30, 2021, Moran Corporation issued $13.5 million of its 6% bonds for $12.1 million. The…

A:

Q: Select one: O True O False

A:

Q: On January 1, 2011, Boyle Company issued 9% bonds in the face amount of P5,000,000 which mature on…

A: Answer) Calculation of Selling Price of Bonds Face Value of Bonds = P 5,000,000 Annual Coupon rate =…

Q: On January 1, 2015, ABC Co. issued 5-year bonds in the amount of $50, 000.  Interest of 4% is…

A: Bonds: Bonds are the financial debt instruments issued by the corporations to raise capital for the…

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A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…

A: c. 112,471.65 Balance of Discount on Bonds Payable on December 31,2020

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $400 million on July…

A:

Q: What loss should Mirada record on the redemption of bonds?

A: Bonds are the financial instruments which shows the amount of ownership of debt in a business…

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A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Q: On January 1, 2006, Naruto Company issued 9% bonds in the amount of P5,000,000, which mature on…

A: To answer above question, following bond amortization table will be compiled till 30 June, 2006:…

Q: Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on…

A: When the bonds are issued at more than their par value it means that it has been issued at the…

Q: On July 1 2021, espresso industries issued $700000 of 12 % bonds, dated July 1. Interest is payable…

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Q: On January 1, 2018, Surreal Manufacturing issued 560 bonds, each with a face value of $1,000, a…

A: Cash Interest=Face Value×Interest rate=$560,000×3%=$16,800

Q: Danner Company sold $500,000 of 8 percent, 20-year bonds on April 1, 2014, at 105. The semiannual…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entries to record the bond issue,…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: On January 1, 2018, Oman Cables Industry (SAOG) issued 12% bonds dated January 1, 2018, with a…

A: The present value represents the present value of the bond that will be redeemed in the future.…