On July 1. 2000. Car issued 9% bonds in the face amount of P1.000.000. which mature on July 1, 2010. The bonds were issued for P939,000 to yield 10% resulting in a bond discount of P61,000. Car uses the interest method amortizing bond discount. Interest is payable annually on June 30. At June 30, 2002, Car's unamortized bond discount should be: P52,810 P51,000 P48,800 P43,000

Q: On January 1, 2009, Zero Co. issued its 10% bonds in the face amount of P4,000,000, which mature on…

A: Formula: Adjusted unamortized bond premium at December 31, 2009 = Total bond premium - Amortization…

Q: On January 1, 2020, Cullumber Corporation issued $900,000, 7%, 5-year bonds for $828,000. The bonds…

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

Q: Kevin, Inc. issues P 3,000,000, 9%, bonds for P 2,817,000. The market interest rate for these bonds…

A: Annual interest payment = Face value of bonds x stated rate of interest x no. of months/12 Annual…

Q: On January 1, 2024, Mechanics Credit Union (MCU) issued 8%, 20-year bonds payable with face value of…

A: The bonds are the debt instrument. These debt instruments are generally issued by the corporation or…

Q: PA5. 13.3 Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year…

A: Under the Straight-Line Amortization Method, the premium or discount on bond is amortized equally…

Q: On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value…

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

Q: On July 1, 2013, AC Corporation issued one thousand of its 10%, P1,000 callable bonds for P960,000.…

A: Total discount on bonds = Face value of bonds - issue value = P1000000 - 960000 = P40,000

Q: On January 1, 2023, Crane Ltd. issued $2130000, 5% bonds, which mature on January 1, 2030. The bonds…

A: Crane Ltd. issued bonds for a premium because the market interest rate (4%) is lower than the coupon…

Q: Loop Raceway issued 700 bonds, each with a face value of $1,000, a stated interest rate of 6 percent…

A: Bonds that have an amortized face value are ones that pay interest in addition to regular payments…

Q: ista inc issued 00, 9% bonds for $7455000. The market rate of interest for these bonds is 8%…

A: The bonds are issued at a premium, when the market rate is lower than the coupon rate of bonds…

Q: On December 31, 2020, Plank Corporation issued $800,000, 6%, 5-year bonds for $735,100. The bonds…

A: PREPARATION OF BOND DISCOUNT SCHEDULE

Q: On June 30, 2024, Single Computers issued 8% stated rate bonds with a face amount of $100 million.…

A: Issue price of a bond means the price at which the bond is issued. It can be issued at par, premium…

Q: On January 1, Oriole Corporation issued $4100000, 14%, 5-year bonds with interest payable on…

A: The bonds payable are the long-term liabilities of the business. The bonds are issued at premium…

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,…

Q: Items 1 to 4 are based on the following information. On December 31, 2020, Fuslie Company issued…

A: Bonds are financial instruments issued to raise funds in consideration of interest payment. Bonds…

Q: On January 1, Blossom Inc. issued $7300000, 9% bonds for $7774500. The market rate of interest for…

A: Cash payment of interest ($7,300,000 * 9%)$657,000Less: Interest Expense ($7,774,500 *…

Q: On May 1, 1999, Sun Corp. issued 11% bonds in the face amount of P1,000,000 that mature on May 1,…

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

Q: On January 1, 2016, United Corp. issued its 9% bonds in the face amount of P 2,000,000, which mature…

A: Bonds is an investment security in which investors invest amount in exchange of regular interest…

Q: the first interest payment on June 30, 2025, what is the balance of Discount on Bonds Payable?…

A: Discount on bond Payable means the bond issued at a less amount from its face value.  The journal…

Q: ed ten-year bonds with a face value of $5,000,000 and a stated interest rate of 6%, payable…

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…

Q: On January 2, 2012, Halcon Company issued 9% bonds in the amount of P8,000,000 which mature on…

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

Q: PB5. LO 13.3Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

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

Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…

A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200

Q: On January 1, 2018, Wauwatosa Inc. issued 5- year bonds with a fave value of $200,000 and a stated…

A: When the issue price of the bond is higher than its face value, the bonds are said to be issued at a…

Q: On January 1, 2016, Giant Company issued an 8% callable bond which has a par value of $200,000 for…

A: Solution A bond is a contract of debt whereby one party called the issuer borrows funds from another…

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: Oriole SpA issued €400,000, 7%, 20-year bonds on January 1, 2020, for €360,727. This price resulted…

A: Effective Interest Method: It is an accounting method that helps in calculating the discount on…

Q: Bob's Hamburgers issued 6%, 10-year bonds payable at 70 on December 31, 2024. Al December 31, 2026,…

A: Bonds -An investor's debt to a borrower is represented by a bond, a fixed-income instrument. In…

Q: On January 1, 2006, Okon Company issued 5,000 of its 9%, P1,000 face value bonds at 95.  Interest is…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: On June 30, 2024, Single Computers issued 8% stated rate bonds with a face amount of $100 million.…

A: Bonds payable is a type of instrument where by an amount is borrowed for a fixed period with fixed…

Q: On January 1, Cullumber Inc. issued $4200000, 9% bonds for $3943800. The market rate of interest for…

A: Lets understand the basics. When bond is issued for more than or less than its face value then…

Q: XYZ issues a $1,000,000 bond that matures in 5 years on January 1, 2012. The bond pays interest…

A:

Q: Claremont Inc. issued a $400,000 bond on January 1, 2020. The bond had a five-year life and an 8%…

A: A bond is an instrument of an indebtedness to the holders of bond issuer in finance. The most…

Q: On January 1, 2018, Technicians Credit Union (TCU) issued 5%, 20-year bonds payable with face value…

A: Premium on Bonds Payable = Face value of Bonds - Issue price = $100000 - $100000*106% = $6000

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…

Q: Vaughn Manufacturing issues $5130000, 6%, 5-year bonds dated January 1, 2020 on January 1, 2020. The…

A: The question is based on the concept of Financial Management.

Q: On January 1, 2006, Ward Company issued its 9% bonds in face amount of P4,000,000, which mature on…

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

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 July 1, 2022, Free Compnay issued for $438,000, 500 of its 8%, $1000 bonds. The market rate when…

A: The bonds are the financial instruments that are used to raise money from the market or investors.…

Q: Crane Company issues $5040000, 7%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds…

A: Proceeds from bond is the Present Value of the Bond. Present value of Bond is the present value of…

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: On January 1, Marigold Corp. issued $5200000, 11% bonds for $5538000. The market rate of interest…

A: Premium unamortized means the premium amount which is yet to be amortized on the bonds. It is…

Q: January 1, 2024, Nurses Credit Union (NCU) issued 5%, 20-year bonds payable with face value of…

A: Bonds The type of securities that are sold by corporations and governments to raise money from…

Q: am. 138.

A: Step 1: Understanding of amortization method for discount or premium on issue of bonds:- When bond…

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

A: Face value = $700,000Coupon rate =12%Maturity = 3 yearsYield to maturity = 14%Proceeds =…