Prepare the journal entry that Freedom would make on 12/31/2022 to record the acquisition of the bonds.

Q: On January 2, 2016, Banno Corp. issued P1,500,000 of 10% bonds to yield 11% due December 31, 2025.…

A: The answer is stated below:

Q: Universal Foods issued 8% bonds, dated January 1, with a face amount of $160 million on January 1,…

A: Commercial organizations used journal entries to record their financial transactions in their…

Q: Vadercat Limited issued $30 million 4.5 percent, 15 year bonds on September 1, 2020. The market rate…

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

Q: On February 1, 2021, Kailua Corp. issued $800,000, 20 year, 9% bonds, with interest payable…

A: Effective Interest Rate Method: Using this approach, the interest rate is maintained as the bond's…

Q: The Bradford Company issued 10% bonds, dated January 1, with a face amount of $82 million on January…

A: Issue price of bonds would be the present value of the interest annuity & maturity amount at…

Q: On January 1, 2019, Drennen Inc. issued $5 million face amount of 10-year, 14% stated rate bonds…

A: Given: Face value= $5,000,000 i (Stated interest rate) = 14% n (Time period)= 10 x 2 = 20 Market…

Q: BU Curriculum Corporation issued $800,000 of 8% bonds on September 1, 2020, due on September 1,…

A: Issue price;

Q: On January 1, 2019, company acquired 2,000,000 face amound bonds dated January 1, 2022. The bonds…

A: Introduction' Bond is a investment securities that is issued by company where investors lends money…

Q: Page 2 of 2 Assignment 2: (CLO 5): MS Excel application: Determine any four related variables, two…

A: The coefficient of variation basically shows the extent of variability of data in a sample of data…

Q: Blossom Ltd. issued a $1,030,000, 10-year bond dated January 1, 2023. The bond was sold at 97.…

A: When bonds are issued at a discount, it means that the initial sale price of the bonds is less than…

Q: On June 30, 2020, Blossom Limited issued $2 million of 20-year, 13% bonds for $2,320,916, which…

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

Q: Provide the journal entry that Bella will make to record the second bond interest payment on…

A: Meaning of Bonds Bonds are fixed debt instruments where a company issues bonds to the lenders. The…

Q: On January 1, 2025, Flounder Company purchased 8% bonds having a maturity value of $200,000 for…

A: Debt investment seems to be a sort of investment within a corporation or project that involves…

Q: Stark Ltd sold IDR 6,200,000, 10%, 10-year bonds on January 1, 2019. The bonds were dated January i…

A: No. Date Account Titles and Explanation Debit Credit 1. January 1, 2019 Cash (IDR…

Q: On July 1, 2019, Choir Company issued $700,000 face value of 5%, 20 year bonds. The bonds call for…

A: Journal entries: It is the duty of the accountant to record business economic and non economic…

Q: Headland Co. sells $497,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and…

A:

Q: Swiss Inc. sold 20-year bonds with a total face amount of $401,000 and a stated rate of 7.5%. The…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: The Bradford Company issued 12% bonds, dated January 1, with a face amount of $86 million on January…

A: Bonds meaning:- Bonds are debt securities or financial instruments issued by governments,…

Q: On June 1, 2018, Ken Company sold $200,000 in long-term bonds for $175,520. The bonds have a stated…

A: a.Bond Amortization table for first 4 year   Period Ending Beginning of Period Net Book Value…

Q: The Pearl Company issued $210,000 of 9% bonds on January 1, 2025. The bonds are due January 1, 2030,…

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

Q: On January 1, 2021, Universe of Fun issues $900,000, 8% bonds that mature in 10 years. The market…

A: Bonds: This is just like debt for the issue of investors by the company. Bond is dependent on the…

Q: On January 1, 2024, a company issues $800,000 of 8% bonds, due in twelve years, with interest…

A: Lets understand the basics.Bonds can be issued at either,(1) Par value(2) Premium(3) Discount…

Q: The Bridgeport Company issued $340,000 of 8% bonds on January 1, 2025. The bonds are due January 1,…

A: Bonds are issued either by government entities or by corporations. The premium on bonds arises when…

Q: Sciamanna Corporation issued $500,000 of 6%, 10-year bonds payable on January 1, 2022. The market…

A: The cash borrowed on January 1, 2022 would be present value of interest annuity & maturity…

Q: The Bradford Company issued 14% bonds, dated January 1, with a face amount of $89 million on January…

A: Bonds meaning:- Bonds are debt securities or financial instruments issued by governments,…

Q: Microsoft Technologies issued $580,000 of 6%, 10-year bonds at par value on October 31, 2020 that…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

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 Dec. 31, 2020, Zallag company issues callable bonds that havea $700,000 par value, mature in 10…

A: Bonds are the amount company borrowed from the investors for a fixed income and for a period of…

Q: The Kingbird Company issued $240,000 of 8% bonds on January 1, 2020. The bonds are due January 1,…

A: Bonds are the instrument by which company raises the money for a fixed interest payment as finance…

Q: What loss should Mirada record on the redemption of bonds?

A: Bonds are the financial instruments which shows the amount of ownership of debt in a business…

Q: On January 1, 2025, Sheffield Corporation issued $690,000 of 9% bonds, due in 10 years. The bonds…

A: When the bonds are issued by a company in excess of its normal value, then it is said that bonds are…

Q: Sunland Electric sold $6,960,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated…

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

Q: Nash Co. sells $534,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and…

A: Bonds represent debts issued by the firm to meet the capital requirements. They act as a promise by…

Q: Universal Foods issued 12% bonds, dated January 1, with a face amount of $125 million on January 1,…

A: Bond :— It is one of the source of capital that pays fixed periodic interest and face value amount…

Q: The Bradford Company issued 12% bonds, dated January 1, with a face amount of $92 million on January…

A: Bonds are a method of raising long-term funds by a business, wherein borrower company borrows a…

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

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

Q: punts. Record journal entries in the order presented in the problem. List all debit entries before…

A: When bonds are issued at price lower than their par value, they are issued at a discout. The…

Q: the second interest payment. January 31, 2034 the date the principal is repaid. What would be the…

A: Scenario 1: Bonds Issued February 1, 20241. Amount Received:Face value of bonds: 80,000 * $1,000 =…

Q: On January 1, 2020, High Shots issued $250,000 of 11% ten-year bonds at 104. Issuance costs amounted…

A: Retirement of bonds occurs when the company repurchases its own issued bonds.