Journalize the redemption of $300,000 bonds issued at face value.

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Answer 1

Question

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

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Accounting Cycle Review 15 a-e Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable Inventory $27,400 59,000 22,600 Land 62,900 Buildings 96,900 Equipment 42,000 Allowance for Doubtful Accounts $430 Accumulated Depreciation-Buildings 30,500 Accumulated Depreciation-Equipment 15,000 Accounts Payable 19,300 Interest Payable -0- Dividends Payable Unearned Rent Revenue -0- 8,800 Bonds Payable (10%) 54,000 Common Stock ($10 par) 34,000 Paid-in Capital in Excess of Par-Common Stock 6,800 Preferred Stock ($20 par) -0- Paid-in Capital in Excess of Par-Preferred -0- Stock Retained Earnings 72,970 Treasury Stock -0- Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense -0- 576,000 -0- -0- -0- 404,000 -0- 39,900 63,100 Total Unrecorded…

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Answer 2

Question

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

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Answer 3

Question

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

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Answer 4

Question

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

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Answer 5

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

Answer 6

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

Answer 7

Chapter 22, Problem 4SEB

(a)

To determine

Journalize the redemption of $300,000 bonds issued at face value.

Answer 8

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

Answer 9

(b)

To determine

Journalize the redemption of $25,000 bonds of the issue at 103.

Answer 10

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

Answer 11

(c)

To determine

Journalize the redemption of $25,000 bonds of the issue at 97.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 22 - A secured bond is one that is backed by specific...Ch. 22 - Prob. 2TF Ch. 22 - When bonds are issued at face value, the debit to...Ch. 22 - Prob. 4TF Ch. 22 - Prob. 5TF Ch. 22 - Bonds that give the holder the option of...Ch. 22 - Prob. 2MC Ch. 22 - Prob. 3MC Ch. 22 - Prob. 4MC Ch. 22 - Bond sinking fund earnings are (a) subtracted from...

Journalize the redemption of $300,000 bonds issued at face value.

Solution Summary: The author describes the journal entry as a set of economic events which can be measured in monetary terms.

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Journalize the redemption of $300,000 bonds issued at face value.

Journalize the redemption of $25,000 bonds of the issue at 103.

Journalize the redemption of $25,000 bonds of the issue at 97.

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Chapter 22 Solutions