Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2022, at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds.   Date Account Titles and Explanation Debit Credit Jan. 1, 2022 enter an account title to record the issuance of the bonds on January 1, 2017enter an account title to record the issuance of the bonds on January 1, 2017 enter a debit amountenter a debit amount enter a credit amountenter a credit amount   enter an account title to record the issuance of the bonds on January 1, 2017enter an account title to record the issuance of the bonds on January 1, 2017

Q: Crane Inc. issues $250,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale of…

A: Lets understand the basics.There are two method through which amortization of bonds are made.(1)…

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

A: Given:

Q: Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2025, at face value. Interest is…

A: The journal entries are prepared to record the transactions on regular basis. The bonds are issued…

Q: Blossom Inc. issues $210,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: On January 1, 2014, Blossom World issued bonds with a face value of $160,000. The bonds carry a…

A: The journal entries are very important because this is the first step where a business transaction…

Q: On January 1st, 2020, Clem Company issued $300,000 of 10-year, 6% bonds on January 1, 2018. The…

A: Journal entries refers to the process of systematic documentation of the financial transactions of a…

Q: Ivanhoe Company issued $680,000 of 5-year, 8% bonds at 96 on January 1, 2022. The bonds pay interest…

A: Bonds Payable -Bonds are the notes issued by the payer to the collector. It is a promissory note…

Q: On December 31, 2018 Brown Company issued $600,000 of 15-year, 11% bonds payable for $558,706,…

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

Q: Analyzing and journalizing bond transactions On January 1, 2018, Educators Credit Union (ECU) issued…

A: Journalize the following bond transactions:

Q: Pharoah Company issues $2.90 million, 5-year, 7% bonds at 104, with interest payable annually…

A: Given that the bonds has been issued at premium and it has to be amortised on straight line basis.…

Q: Analyzing and journalizing bond transactions On January 1, 2018, Educators Credit Union (ECU) issued…

A: Bond financing is an instrument for borrowing the funds. The borrower has to pay a fix amount of…

Q: Price Company issued a $700,000, 8%, 10-year bond payable at face value on January 1, 2018 Interest…

A: A bond refers to fixed income instrument that represents a loan made by an investor to a borrower…

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: 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: Crane Company issued $830,000, 8%, 20-year bonds on January 1, 2025 at 103. Interest is payable…

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

Q: The following section is taken from Oriole Company's balance sheet at december 31, 2021. Current…

A: for more information ping me, Happy learning.

Q: On January 1. 2017 JWS Corporation issued $600,000 7% Bonds due in 10 years The bonds were issued…

A: Given information is: Face value of bonds = $600,000 Interest rate = 7% Period = 10 years

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

A: Bonds are a form of debt taken by the company. Company has to make regular interest payments on…

Q: 2 January 2018, MAYA Bhd issued RM1,500,000 of 10% bond at 106.231 with market interest 11% due 31…

A: Bonds are the securities issued by a business entity in order to raise funds for its business…

Q: The Golden Company issues $539,000 of 7%, 10-year bonds at 104 on March 31, 2019. The bonds pay…

A: An interest-bearing bond is a type of debt security issued by a borrower, typically a corporation or…

Q: Blue Spruce Corp. issues 6400, 10-year, 8%, $1000 bonds dated January 1, 2017, at 101. The journal…

A: Answer is option a)  credit to Bonds Payable for $6400000.

Q: The Colson Company issued S$300.000 of 10% bonds on January 1, 2017. The bonds are due January 1,…

A: Semi-annual interest=Annual Interest rate2=10%2=5%

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: Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: prepare the journal entry to record the sale of these bonds on January 1, 2022. Crane Company issues…

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

Q: Kingbind, Inc. issues $4.1 million, 10-year. 9% bonds at 102, with interest payable on January 1.…

A: Solution: Journal entries : The straight line method :

Q: Laudie Company issued $400,000 of 5%, 10-year bonds on January 1, 2020, at 94. Interest is payable…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: ctions for Zillow include an explanation for each entry A. Insurance if the bonds payable at par on…

A: Journal entries refers to the process of systematic documentation of the financial transactions of a…

Q: On January 1, 2020, Cullumber Company issued $400,000, 10%, 10-year bonds at face value. Interest is…

A: Bonds- These are the debts of a company on which interest is payable after a fixed interval i.e.…

Q: On January 1, 2017, JWS Corporation issued S600.000 7% Bonds due in 10 years. The bonds were issued…

A: Given that: Face value of bonds = $600,000 Interest rate = 7% Issue price = $599,224

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: The Colson Company issued S300.000 bonds at 98 on January 1, 2017. The bonds are due January 1,…

A: Given information is: Face value of bonds = $300,000 Issue price = 98 per bond

Q: Pharoah Company issued $500,000 of bonds on January 1, 2020. (a) Prepare the journal entry to record…

A: Journal entries serve as the primary building blocks for financial records. Journal entries include…

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…

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…