What is the journal entry to record the issuance of the bonds?   DR                                    DR/CR ?     CR       What is the journal entry to record the first interest payment? (Note: Do not consider the premium or discount.)   DR                           CR

Q: On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 each for $104,000. The…

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

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

A: Given:

Q: Novak Corporation issued 2.000 $1,000 bonds at 103. Each bond was issued with one detachable stock…

A: Journal entries are prepared to record the transactions in the books of account showing the double…

Q: On the first day of the current fiscal year, $200,000 of 5-year, 10% bonds, with interest payable…

A: Discount on Bonds payable = Face value of bonds - issue price of bonds = $200,000 - $192,462 =…

Q: Please help me

A: It has been given in the question that only the cash receipts journal is required to be made. This…

Q: Wildhorse Corporation issued $300,000 of 10-year bonds at a discount. Prior to maturity, when the…

A: BOND Bond is a Financial Security which is generally Issued by the Corporations, Government &…

Q: Hoover Corp., a wholesaler of music equipment, issued $20,000,000 of 20-year, 6% callable bonds on…

A: Bonds offer diversification benefits within an investment portfolio. They tend to have a lower…

Q: Coronado Industries retires its $680000 face value bonds at 103 on January 1, following the payment…

A: The redemption of bonds referrers when the issuer calls the bonds and pays the face value of bonds…

Q: Tomasovich Inc. issued bonds with a face value of $ 100,000 and a stated rate of 8%. Tomasovich…

A: Journal Entry is CrDrCash account   $102,500To Bonds Payable account$100,000   To Premium on bonds…

Q: ABC Company issued $100,000 in bonds for $98,000. The bonds had a stated rate of 12% and pay…

A: The objective of the question is to determine the correct journal entry to record the first interest…

Q: Ayayai Corporation issues $305,000 of bonds for $320,250.

A: Bonds :Bonds are long-term debts issued by the government and companies to raise funds for their…

Q: Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay…

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

Q: On the first day of the fiscal year, a company issues a $2,800,000, 8%, 8-year bond that pays…

A: The bonds are the financial instruments used to raise the money from the investors.

Q: Federer Corporation issued $540,000 in bonds for $498,600. The bonds had a stated rate of 12% and…

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

Q: On December 31, a $1,950,000 bond issue on which there is an unamortized discount of $70,500 is…

A: Journal entry is generally used to record the different kind of business transactions in the…

Q: Darien Inc. redeemed $20,000 of its bonds at 102 on January 1. At this date, the unamortized…

A: Cash on bonds is   20000 × 1.02 = 20400 the unamortized discount was $2,760. Loss on redemption is $…

Q: On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $910 for $94,800. The bonds…

A: Bonds payable (at par) = 100 bonds * $910= $ 91000 Bond issued value= $ 94800 Premium on bond issue=…

Q: At the end of the current year, the bond accounts of Hobeen Services showed the following balances:…

A: On the retirement of bonds: There will be cash outflow. Liabilities would be decreased. any…

Q: A $1,600,000 bond issue on which there is an unamortized premium of $70,500 is redeemed for…

A: The company shares, bonds, debentures, etc., will be issued to meet the capital requirement of the…

Q: Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay…

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

Q: On Jan. 1, Year 1, Nadal Inc. issued 100 bonds with a face value of $1,000 each for $103,500. The…

A: In the given case, Nadal Inc issued 100 bonds with a face value of $1000 each at a premium of $35.…

Q: Federer Corporation issued $540,000 in bonds for $498,600. The bonds had a stated rate of 12% and…

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

Q: A$1,000,000 bond is issued on 7/1. The transaction is recorded on 7/1 by the UCF Bicycle Vending…

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

Q: Swifty Corporation issued $414,500 of 5-year, 7% bonds at 95 on January 1, 2022. The bonds pay…

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

Q: On January 1, Year 1, Bluestone Company issued bonds with a face value of $500,000 at 90. How will…

A: Bonds are usually issued by the company as to raise short term finance. These are basically issued…

Q: Give calculation of vintage's return on equity and units

A: Return on Equity (ROE) can also be computed by using the Dupont formula, which is:ROE = Net Profit…

Q: For each of the four independent situations below, prepare a single journal entry that summarizes…

A: Situation Interest Expense Interest payable Increase (Decrease) Unamortized Discount Increase…

Q: Carla Vista Corporation issued $392,000 of 10-year bonds at a discount. Prior to maturity, when the…

A: BOND Bond is a Financial Security which is Generally Issued by the Corporations, Government &…

Q: Malcolm Company borrowed money by issuing $2,500,000 of 7% bonds payable at 102.7 on July 1, 2021.…

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

Q: Vaughn Corporation issued 1,800 $1,000 bonds at 101. Each bond was issued with one detachable stock…

A: Answer:- A bond is a fixed income security that is used to signify a loan that a borrower has…

Q: payment of a call premium of $10,000. The bonds D,000. We call these bonds prior to maturity on…

A: These are the accounting transactions that are having a monetary impact on the financial statement…

Q: On December 31, a $2,300,000 bond issue on which there is an unamortized discount of $107,500 is…

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

Q: #4.  On Jan. 1, Year 1, Nadal Inc. issued 100 bonds with a face value of $1,000 each for $103,500.…

A: JOURNAL ENTRIESJournal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: For each of the four independent situations below, prepare a single journal entry that summarizes…

A: Working note:

Q: Tarheel Inc., a calendar year-end company, issued bonds on 1/1/X1. It uses the effective interest…

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

Q: What account would be debited (1), what account would be credit (2), and what amount would be paid…

A: Interest payment = Face value of bonds x bonds interest rate x 6/12 = $100,000 x 12% x 6/12 = $6,000…

Q: You are told that a note has repayment terms of $1,150 per quarter for 4 years, with a stated…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: a. Journalize the entries to record the following. Refer to the Chart of Accounts for exact wording…

A: Introduction: Bonds: Bonds are debt instrument issued by the company or other legal bodies to…