Bonds payable: The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc. If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount. If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount. Requirement 1 a. Maturity Value of bonds b. Carrying amount of the bonds at December 31, 2018 c. Semi-annual cash interest payment on the bonds d. Interest Expense should the company record each year

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Answer 1

Question

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

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Chapter 15 Homework 13 Saved Help Save & Exit Submit Part 1 of 2 0.83 points eBook Ask Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,800 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 49,000 24,400 73,400 9,420 $ 82,820 c. Time tickets show the following labor used for the month. Print References Job 201 $ 40,000 Job 202 13,400 Total direct labor 53,400 25,000 $ 78,400 Indirect labor Total labor used d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $166,160 on credit. g. Incurred the following actual other…

quesrion 2

Anti-Pandemic Pharma Co. Ltd. reports the following information in its income statement: Sales = $5,250,000; Costs = $2, 173,000; Other expenses = $187,400; Depreciation expense = $79,000; Interest expense= $53,555; Taxes $76,000; Dividends $69,000. $136,700 worth of new shares were also issued during the year and long-term debt worth $65,300 was redeemed. a) Compute the cash flow from assets b) Compute the net change in working capital (325 marks)

Answer 2

Question

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Answer 6

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

Answer 7

Chapter 14, Problem P14.39BPGB

To determine

Concept Introduction:

Bonds payable:

The bonds payable can be defined as the instruments that enables the businesses to raise funds for their day to day business operations or any other financial needs like purchase of fixed assets – land, building, equipment etc.

If bonds are issued for more than their par value, it is said that they are issued at premium. The amount over and above the par value is premium amount.

If bonds are issued for less than their par value, it is said that they are issued at discount. The amount less than the par value is discount amount.

Requirement 1

a. Maturity Value of bonds

b. Carrying amount of the bonds at December 31, 2018

c. Semi-annual cash interest payment on the bonds

d. Interest Expense should the company record each year

Answer 8

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Answer 9

To determine

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

Answer 10

Expert Solution & Answer

Answer 11

Expert Solution & Answer

Answer 12

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Answer 13

Ch. 14 - Prob. 1QC Ch. 14 - Daniels's bonds payable carry a stated interest...Ch. 14 - Prob. 3QC Ch. 14 - Prob. 4QC Ch. 14 - Prob. 5QC Ch. 14 - Prob. 6QC Ch. 14 - Prob. 7QC Ch. 14 - Prob. 8QC Ch. 14 - Prob. 9AQC Ch. 14 - 10B Hicks Corporation issued S500.000 of 5%,...

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Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount

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Chapter 14 Solutions

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Requirement 2 To prepare: Journal entry to record semi-annual interest payment and amortization of discount

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Chapter 14 Solutions

Requirement 2

To prepare:

Journal entry to record semi-annual interest payment and amortization of discount