On January 1, 2021, Bank Nizwa. issued RO 90,000, five-year, 12% bonds at (100% of face value). Assume that interest is payable semiannually on January 1 and July 1. Prepare the entry to record the payment of interest on July 1, 2021 اخترأحد الخيارات .a O 5,400 InterestExpense 5,400 Cash .b 10,800 Interest Expense 10,800 Cash .c 10,800 Interest Payable 10,800 Interest Expenses .d O 5,400 Interest Payable 5,400 Interest Expenses

On January 1, 2021, Bank Nizwa. issued RO 90,000, five-year, 12% bonds at (100% of face value). Assume that interest is payable semiannually on January 1 and July 1. Prepare the entry to record the payment of interest on July 1, 2021 اخترأحد الخيارات .a O 5,400 InterestExpense 5,400 Cash .b 10,800 Interest Expense 10,800 Cash .c 10,800 Interest Payable 10,800 Interest Expenses .d O 5,400 Interest Payable 5,400 Interest Expenses

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

5. On Jan. 1.2019 , Arabic bank issued bonds RO 95000 bonds bearing interest 12% is payable each August & 31.12. record the journal entry.
of 6 - 1:22:32 ook 17 rint ! Required information [The following information applies to the questions displayed below.] Temptation Vacations issues $49 million in bonds on January 1, 2024, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) Date 1/1/2024 6/30/2024 12/31/2024 (2) Cash Paid for Interest $1,470,000 1,470,000 Stated annual interest rate (3) Interest Expense 4. What is the stated annual interest rate? $1,378,755 1,376,473 % (4) Decrease in Carrying Value $91,245 93,527 (5) Carrying Value $55,150, 180 55,058,935 54,965,408 ↳
What account would be debited (1), what account would be credit (2), and what amount would be paid to record the journal entry for each interest payment based on a $200,000 five-year, 10% bond and the bond was issued at $192,462 (11%) and interest is paid semiannually? JOURNAL Page 25 DATE DESCRIPTION P.REF. DEBIT CREDIT (1) ? (2) ? (1) Interest Expense debit $11,000, and (2) Cash credit $11,000 (1) Interest Expense debit $10,000 and (2) Cash credit $10,000 (1) Cash debit $20,000 and (2) Interest Expense credit $20,000 (1) Cash debit $22,000, and (2) Interest Expense credit $22,000
of 6 4:21:47 ook rint Required information [The following information applies to the questions displayed below.] Temptation Vacations issues $49 million in bonds on January 1, 2024, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) Date 1/1/2024 6/30/2024 12/31/2024 (2) Cash Paid for Interest $1,470,000 1,470,000 Market annual interest rate (3) Interest Expense $1,378,755 1,376,473 (4) Decrease in % Carrying Value $91,245 93,527 (5) Carrying Value $55,150, 180 5. What is the market annual interest rate? (Round your answer to the nearest whole percent.) 55,058,935 54,965,408 4
On June 30 question attached in ss below thnak you for the help appareicated it 4i2opt24 y2oy4p
Answer in step by step solution
1 Saved Help Save & Ex On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Cash Effective Increase in Outstanding Payment Payment Interest Balance Balance 6,544,432 6,555,654 6,567,437 6,579,809 6,592,799 6,606,439 6,620,761 1 316, 0ее 316,000 316,000 316,000 316, е0е 316,000 327,222 327,783 328,372 328,990 329,640 330,322 11,222 11,783 12,372 12,990 13,640 14,322 3. 4 6 38 316,000 316,000 316,000 384,243 387,655 391,243 68,243 71,655 75,243 7,753,102 7,824,757 7,900,000 39 40 Required: 1. What is the face amount of the bonds? 2. What is the initial selling price of the bonds? 3. What is the term to maturity in years? 4. Interest is determined by what approach? 5. What is the stated annual interest rate? 6. What is the effective annual interest rate? 7. What is the total cash interest paid over the term to maturity? 8. What is the total effective…
Dhapa
Hh1. Account
On January 1, 2021, Bank Nizwa. issued RO 90,000, five-year, 12% bonds at (100% of face value). Assume that interest is payable semiannually on January 1 and July 1. Prepare the entry to record the payment of interest on July 1, 2021 Select one: O a. Interest Expense 5,400 Cash 5,400 O b. Interest Payable 10,800 Interest Expenses 10,800 O c. Interest Payable 5,400 Interest Expenses 5,400 O d. Interest Expense 10,800 Cash 10,800 Cirill lis ais!
On 1/1/2019 BY company purchased 4000 bonds of Arab Bank the par value per bonds OMR45, bonds bearing interest 12% is payable each July. 1 & Dec 31. The bonds mature Dec. 2019. On 31/12/2019, the company sold the bonds at OMR 152200. On 31/12/2019 the company should record cash: Select one: a. OMR152000 b. OMR163000 c. OMR180000 O d. None of the options
Q. 19 Medow corporation issued 3000 7%, 5 year, P1,000 bonds on January 1 2022 at face value. Interest is paid each January 01. A. Prepare journal entry to record sale of the bonds on January 01,2022 B. Prepare the adjusting entry on December 31, 2022 to record interest expenses.