The bond carrying value of “G” Corporation on January 1, 2019. Bonds Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond. Redemption of Bonds The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

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Answer 1

Question

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

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Answer 2

Question

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Expert Solution & Answer

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Answer 3

Question

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Expert Solution & Answer

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Answer 4

Question

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Expert Solution & Answer

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Answer 5

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Answer 6

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

Answer 7

Chapter 10, Problem 10.5EYCT

(a)

To determine

To Prepare: The bond carrying value of “G” Corporation on January 1, 2019.

Bonds

Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and governmental organizations. It is a debt instrument used for the purpose of raising fund of the corporations or governmental agencies. If selling price of the bond is equal to its face value, it is called as par on bond. If selling price of the bond is lesser than the face value, it is known as discount on bond. If selling price of the bond is greater than the face value, it is known as premium on bond.

Redemption of Bonds

The process of repaying the sale amount of bonds to bondholders at the time of maturity or before the maturity period is called as redemption of bonds. It is otherwise called as retirement of bonds.

Answer 8

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

Answer 9

(b-1)

To determine

To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

Answer 10

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

Answer 11

(b-2)

To determine

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

Answer 12

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Answer 13

(c)

To determine

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 10 - Prob. 1Q Ch. 10 - Prob. 2Q Ch. 10 - Prob. 3Q Ch. 10 - Prob. 4Q Ch. 10 - Prob. 5Q Ch. 10 - 6 What are long-term liabilities? Give three...Ch. 10 - Prob. 7Q Ch. 10 - Prob. 8Q Ch. 10 - Prob. 9Q Ch. 10 - Prob. 10Q

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To Prepare: The journal entry to record redemptions of 5 years bonds payable of “G” Corporation on January 1, 2019.

To Prepare: The journal entry to record issuance of 10 years bonds payable for “G” Corporation on January 1, 2019.

To Write: A memo to the president of “G” Corporation in response relates to economic factors that you believe should be considered for his repurchase proposal to his request for advice.

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