On October 1, 2015, Redoubtable Corp. issued 5%, 10-year bonds with a face value of $3,000,000 at 104%. On October 1 and April 1, interest is paid. Any premiums or discounts are amortized on a straight-line basis. If you were preparing Redoubtable Corporation’s income statement for December 31, 2015, what bond interest expense would you report?

Q: On January 1, 2020, the Rangler Company issued $600,000 of eight-year bonds at 102. The stated…

A: Cash(600000*102/100) Dr $612000 Bond payable  Cr                      $600000 Premium on issue   Cr.…

Q: Grocery Corporation received $300,328 for 11 percent bonds issued on January 1, 2021, at a mar­ket…

A: Bonds are a type of borrowing in which the issuer accepts cash from bondholders in exchange for a…

Q: Marin Corporation issued $468,000 of 6% bonds on May 1, 2025. The bonds were dated January 1, 2025,…

A: A bond is a fixed-income instrument that is used to raise capital by organizations. Bonds are issued…

Q: On January 1, 2018, Quinton Corporation issued 8% bonds with a face value of $100,000. The bonds are…

A:

Q: On October 1, 2021, Monty Corp. issued $828,000, 7%, 10-year bonds at face value. The bonds were…

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

Q: On July 1, 2018, McNamara Company issued for $598,964, 10%, 20-year bonds with a face value of…

A: When bonds are issued at premium the premium on bonds payable is amortized over the life of the…

Q: On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds…

A: Requirement 1:   Compute the amount of liability.

Q: On January 1, 2016, Tonika Company issued a four-year, $10,000, 7% bond. The interest is payable…

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

Q: 4.  On July1, 2018, Dixon Inc. issued bonds with a $500,000 face value at 96.0 and the 5-year bonds…

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: On January 1, 2017, Surreal Manufacturing issued 780 bonds, each with a face value of $1,000, a…

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: On March 1, 2018, Baddour, Inc., issued 10% bonds, dated January 1, with a face amount of $160…

A:

Q: On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were…

A: Interest accrued on dec 31, 2021 = face value x rate of interest x no. of months/12 = $864000 x 8% x…

Q: ld Corp. uses the amortized cost method (effective interest method) when accounting for debt…

A: Bond is that debt instrument which is used by the organization to finance its long term fund needs,…

Q: Grocery Corporation received $300,328 for 11 percent bonds issued on January 1, 2015, at a market…

A: Table presentation of each account Account (a) Financial Statement (b) Issuance (c ) Interest…

Q: On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $165…

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

Q: On January 1, 2018, Global Sales issued $25,000 in bonds for $29,800. These are eight-year bonds…

A: Bonds are issued by a firm in order to raise fund. Bonds are purchased by investors and they get a…

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: Prepare journal entries for the following transactions.

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: The Oriole Company issued $640,000 of 6% bonds on January 1, 2017. The bonds are due January 1,…

A: Issue of bond: Corporate bond issuance is one method of raising capital for a company. A bond serves…

Q: On August 1, 2022, Blue Spruce Corp. issued $481,200, 7%, 10-year bonds at face value. Interest is…

A: Note​ payable: Note​ payable is an instrument through which borrower obtains money from lender and…

Q: Grocery Corporation received $330,654 for 9.50 percent bonds issued on January 1, 2021, at a market…

A: Bonds can be bought and sold on the bond market, which is a marketplace where investors and traders…

Q: Liab. + Equity Rev. − Exp. = Net Inc. A. NA = NA

A: If company bonds mature, then the cash and bond liability decrease by 50000. In statement cash flow…

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: Cucumber Electric sold $3,300,00, 8%, 10-year bonds on January 1, 2022. The bonds were dated January…

A: Under straight line method, the premium or discount is amortized with equal amounts. The bonds are…

Q: On January 1, 2015, Lyle's Limeade issues 5%, 15-year bonds with a face amount of $85,000 for…

A: One of the most commonly used sources of funding by corporate entities is issuance of Bonds.Bond is…

Q: The long-term liability section of Twin Digital Corporation’s balance sheet as of December 31, 2023,…

A: Journal entries are the foremost reporting of the business transactions in the books of accounts.…

Q: Hello,Can I please get help for the following question?A company issued a $3.9M face amount bond on…

A: Total Discount allowed on issuance of Bonds = 362000Life of Bonds (i.e. Interest periods) =    10…

Q: de, Inc. issued $758,000 of bonds on December 15, 2022, when the market rate of interest was 6%. The…

A: Here are the journal entries to record the issuance of the bonds on December 15, 2022, and the…

Q: On March 1, 2021, Baddour, Inc., issued 10% bonds, dated January 1, with a face amount of $160…

A: 1. Determine the amount(s) related to the bonds Baddour would report in its balance sheet at…

Q: Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30,…

A: Face value of bonds: $425,000,000 Issued Bonds: $361,772,495 Effective interest rate: 6% Interest…

Q: The Crane Company issued $470,000 of 8% bonds on January 1, 2017. The bonds are due January 1, 2027,…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on…

A: Bonds Payable is documentary evidence given by the payer to the payee This act as a promissory note…

Q: Grocery Corporation received $300,652 for 12.50 percent bonds issued on January 1, 2018, at a market…

A: The bonds are issued to raise the money from the market or investors. The bonds are issued at…

Q: On January​ 1, 2018​, Technicians Credit Union, ​(TCU​), issued 8%​, 20​-year bonds payable with a…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Prepare journal entries for the following transactions.

A: Bonds are issued by large organization to raise the fund. Bonds are considered as debt securities…

Q: Simko Company issued $600,000, 10-year, 5 percent bonds on January 1, 2015. The bonds wereissued for…

A: Payment of interest = Face value of bonds x rate of interest x time = $600,000 x 5% = $30,000 Total…

Q: On January 1, Year 1, Residence Company issued bonds with a $50,000 face value. The bonds were…

A: Bonds payable are long-term liabilities that a company records when it issues bonds to raise funds.…

Q: [The following information applies to the questions displayed below.] Alexi Co. issued $3.30…

A: Under horizontal model, effect of all the transactions is being recognised and analysis on all the…

Q: On January 1, 2015, Buchheit Enterprises reported $95,000 in a liability called “Bonds Payable,Net.”…

A: We have the following information:  Reported $95,000 as Bonds Payable in Liability section of…

Q: On January 1, 2024, Baddour, Incorporated, issued 10%, 12-year bonds with a face amount of $176…

A: Financial reporting related to bonds involves disclosing essential information about a company's…

Q: On August 1, 2022, Bridgeport Corp. issued $483,600, 7%, 10-year bonds at face value. Interest is…

A: given that, Bridgeport Corp. issued bonds worth $483600 Rate of interest = 7% life of bond = 10…

Q: On June 30, 2017, ABC Co. issued $6,000,000, 6%, 4-year bonds. The bonds were sold to yield an…

A: Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: Chowan Corporation issued $136,000 of 7% bonds dated January 1, 2016, for $131,421.73 on January 1,…

A: Bonds Payable: Bonds Payable are the financial instruments that are issued with a promise or…

Q: On May 1, 2024, Green Corporation issued $1,200,000 of 8% bonds, dated January 1, 2024, for…

A: A bond is a source of finance. Usually,Usually companies and governments issue bonds to the public.…

Q: On January 1, 2018, Paradiso Company issued 1,000 of its 8%, $1,000 bonds at 93. Interest is payable…

A: Definition:   Bonds: Bonds are a kind of interest-bearing notes payable, usually issued by…

Q: Hasley Company issued $800,000, 11%, 10-year bonds on December 31, 2018, for $730,000. Interest is…

A: Journal entries forms part of basic accounting where the transactions of an organisation are being…