PB5.  LO 13.3Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. July 1, 2018: entry to record issuing the bonds June 30, 2019: entry to record payment of interest to bondholders June 30, 2019: entry to record amortization of discount June 30, 2020: entry to record payment of interest to bondholders June 30, 2020: entry to record amortization of discount

Q: Bramble Corp. issued 3,400 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: Given:

Q: Req 1 Req 2A to 2C Req 3 End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 Semiannual Period-…

A: A journal entry is the process of recording or maintaining track of any financial or non-financial…

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: January 1, 2024, Nurses Credit Union (NCU) issued 7%, 20-year bonds payable with face value of…

A: The retirement of a bond is the repayment of bond at maturity. The principal is repaid and the…

Q: The Maria Miller Company issued $480,000 of 10%  20 yr bonds on January 1, 2025 at 103. Interest is…

A: A Bond is a fixed income that is made by investors, debtholders, or creditors to borrowers used by…

Q: PA6. 13.3 Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

A: Bonds are the highly secured debt securities which are redeemed after a certain span of time.

Q: With this information how would i make a journal entry for this situation Issued $75,000 of 6% term…

A: Calculation of price of bonds and discount on issue of bonds   Amount $ Discounting factor @8% PV…

Q: Required information [The following information applies to the questions displayed below.] Ike…

A: Bonds refer to instruments issued by companies to raise debt capital from non-traditional sources.…

Q: Massy Company issued $4,000,000 of 10-year, 11% bonds on January 4, 2021. The bonds pay interest…

A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…

Q: Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31.…

A: 1. Date Account Titles and Explanation Debit Credit Jan. 1 Cash ($3,200,000*96/100)…

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: Blossom Company issues $2.1 million, 10-year, 5% bonds at 96, with interest payable on December 31.…

A:

Q: Helen Martin Company issued $576,000 of 10%, 20-year bonds on January 1, 2025, at 103. Interest is…

A: Bond is a financial instrument which provides a fixed amount of interest to the bond holders. It is…

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

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.

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Q: 9. Rodriquez Corporation issued a $300,000, 9%, 8-year bond payable on January 1, 2024. Journalize…

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Q: Bramble Corp. issued 1,200 9%, 8-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

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Q: Aggies Inc. issued bonds with a $550,000 face value, 10% interest rate, and a 4-year term on July 1,…

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Q: On April 1, 2020 , Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated…

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Q: Part2: On March 1, 2020, Quinto Mining Inc. issued a $690,000, 8%, three-year bond. Interest is…

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Q: On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-year…

A: Bonds are the securities which are issued by the entity for the purpose of raising funds from the…

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest…

A: The question is based on the concept of the issue of securities. As per Bartleby guidelines we are…

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

A:

Q: Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay interest…

A: To assist you in completing the table and journal entries, we need to follow these steps: 1. Journal…

Q: Req 1 Req 2A to 20 Req 3 Semiannual Period-End Req 4 Prepare the first two years of a straight-line…

A: Lets understand the basics. Amortizaion of premium or discount on issue of bonds done using either…

Q: som Company issues $390,000, 20-year, 8% bonds at 101. Prepare the journal entry to record the sale…

A: Bonds are debt instruments that carry the payment for interest annually and payment of face value on…

Q: 9. Powell Corporation issued a $525,000, 6%, 10-year bond payable on January 1, 2025. Journalize the…

A: Step 1: Let's first understand the definition of bonds:They are a type of long-term instrument which…

Q: Monty Corp. uet 1900 S, vea. L000 bonds dated anuary 1. 2022. at face value. terest in pait each…

A: Journal entries are foundation for accounting transactions of the entity where it involves an debit…

Q: Requirement. Journalize the transactions of Lamire Communications Inc. (Record debits first, then…

A: An entity's interest expenditure is the cost of borrowing money. On the income statement, interest…

Q: Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2019, that pay interest…

A: Face value of bond = $ 1,900,000                             Issue price of bond = $ 1,641,812…

Q: On August 1, 2022, Kingbird, Inc. issued $675,000, 8%, 10-year bonds at face value. Interest is…

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

Q: Legacy issues $740,000 of 7.5%, four-year bonds dated January 1, 2021, that pay interest…

A: Journal entries provide as the essential building blocks that provide answers to those and other…

Q: Hawar Company issued $400,000 of bonds on January 1, 2020. Required: Prepare the journal entry to…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: On May 1, 2020, Windsor, Inc. issued $555,000, 8%, 5-year bonds at face value. The bonds annually on…

A: The issuance of bonds typically involves several steps, such as determining the amount of funds to…

Q: Novak corp. Issued $417,000,11%, 15 year bond on december  31 2021 for $404,490. Interest is payable…

A: A Bond is a fixed income instrument that represents a loan made by an investor to a borrower,…

Q: Omar Company issued a $140,000, 11%, 10-year bond payable at 97 on January 1, 2024 Interest is paid…

A: If the issued Price is less than the face value, it will be treated as that Bonds are issued at…

Q: On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is…

A: As per accrual principle of accounting, all the expenses need to be accounted for within the…

Q: Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest…

A: Solution (4) : Date Particulars Debit Credit 30 June , 2019 Interest expense 19,598.50…

Q: On January 1, 2018, Lane Unlimited issues a 9%, 10- year bonds payable with a face value of…

A: Total premium on bonds = Issue value - Face value = $240,000 x 105/100 - $240,000 = $12,000

Q: PB6. 13.3 Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

A: Solution: (A).  Date General Journal Debit Credit July 1, 2018 Cash $480,000     Discount on…

Q: mature in 2040 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: Blossom Company sold $4,100,000, 5%, 10-year bonds on January 1, 2022. The bonds were dated January…

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Q: 3.  On July 1, 2018, Volunteer Inc. issued bonds with a $500,000 face value at 108.0 and the 5-year…

A: Journal entries are the primary method used to record financial transactions in accounting. They are…

Q: Kingbird Corporation issued $460,000, 8%, 20-year bonds on January 1, 2022, for $418,008. This price…

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Q: andings Glassware Company issues $1,066,000 of 16%, 10- year bonds at 94 on February 28, 2025. The…

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