Principles of Accounting Volume 119th EditionOpenStax Publisher: OpenStax CollegeISBN: 9781947172685
Principles of Accounting Volume 1
Solutions for Principles of Accounting Volume 1
Problem 1MC:
An amortization table ________. A. breaks each payment into the amount that goes toward interest and...Problem 2MC:
A debenture is ________. A. the interest paid on a bond B. a type of bond that can be sold back to...Problem 3MC:
The principal of a bond is ________. A. the person who sold the bond for the company B. the person...Problem 4MC:
A convertible bond can be converted into ________. A. preferred stock B. common stock and then...Problem 5MC:
On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000...Problem 6MC:
On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest...Problem 7MC:
On January 1 a company issues a $75,000 bond that pays interest semi-annually. The first interest...Problem 8MC:
On October 1 a company sells a 3-year, $2,500,000 bond with an 8% stated interest rate. Interest is...Problem 9MC:
On April 1 a company sells a 5-year, $60,000 bond with a 7% stated interest rate. The market...Problem 10MC:
The effective-interest method of bond amortization finds the difference between the ________ times...Problem 11MC:
When a bond sells at a discount, the carrying value ________ after each amortization entry. A....Problem 12MC:
The International Financial Reporting Standards require the use of ________. A. any method of...Problem 13MC:
The cash interest payment a corporation makes to its bondholders is based on ________. A. the market...Problem 14MC:
Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...Problem 15MC:
Naval Inc. issued $200,000 face value bonds at a discount and received $190,000. At the end of 2018,...Problem 16MC:
Keys Inc. issued 100 bonds with a face value of $1,000 and a rate of 8% at $1,025 each. The journal...Problem 17MC:
Huang Inc. issued 100 bonds with a face value of $1,000 and a 5-year term at $960 each. The journal...Problem 18MC:
OShea Inc. issued bonds at a face value of $100,000, a rate of 6%, and a 5-year term for $98,000....Problem 19MC:
Gingko Inc. issued bonds with a face value of $100,000, a rate of 7%, and a 10-yearterm for...Problem 20MC:
The difference between equity financing and debt financing is that A. equity financing involves...Problem 3Q:
What is a junk bond?Problem 5Q:
What do you have to do to the interest rate and years of maturity if a bond pricing problem tells...Problem 6Q:
An amortization table/schedule is created to compute the amount to be amortized each year. What are...Problem 8Q:
Does issuing a bond at a discount increase or decrease interest expense over the life of the bond?Problem 9Q:
What kind of account is the Discount on Bonds Payable? What kind of account is the Premium on Bonds...Problem 10Q:
Why is the effective-interest method of amortization required under the International Financial...Problem 11Q:
If there is neither a premium nor discount present, the journal entry to record bond interest...Problem 12Q:
When do you use the Bond Discount Account?Problem 13Q:
A company issued bonds with a $100,000 face value, a 5-year term, a stated rate of 6%, and a market...Problem 14Q:
A company issued $100,000, 5-year bonds, receiving $97,000. What is the balance sheet presentation...Problem 1EA:
Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...Problem 2EA:
Beluga Inc. issued 10-year bonds with a face value of $100,000 and a stated rate of 3% when the...Problem 3EA:
Krystian Inc. issued 10-year bonds with a face value of $100,000 and a stated rate of 4% when the...Problem 4EA:
On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...Problem 5EA:
Diana Inc. issued $100,000 of its 9%, 5-year bonds for $96,149 when the market rate was 10%. The...Problem 6EA:
Oak Branch Inc. issued $700,000 of 5%, 10-year bonds when the market rate was 4%. They received...Problem 7EA:
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The...Problem 8EA:
Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay...Problem 9EA:
On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The...Problem 10EA:
Pinetop Corporation issued $150,000 10-year bonds at par. The bonds have a stated rate of 6% and pay...Problem 11EA:
Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay...Problem 1EB:
Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the...Problem 2EB:
Waylan Sisters Inc. issued 3-year bonds with a par value of $100,000 and a 6% annual coupon when the...Problem 3EB:
Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...Problem 4EB:
Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market...Problem 5EB:
Haiku Inc. issued $600,000 of 10-year bonds with a stated rate of 11% when the market rate was 12%....Problem 6EB:
Waldron Inc. issued $400,000 bonds with a stated rate of 7% when the market rate was 5%. They are...Problem 7EB:
Willoughby Inc. issued 100 bonds with a face value of $1,000 and a stated rate of 4% and received...Problem 8EB:
Allante Corporate issued 50 bonds with a face value of $1,000 and a stated rate of 4% and received...Problem 9EB:
Roo Incorporated issued 50 bonds with a face value of $1,000 and a stated rate of 6% when the market...Problem 10EB:
Piedmont Corporation issued $200,000 of 10-year bonds at par. The bonds have a stated rate of 6% and...Problem 11EB:
Lunar Corporation issued $80,000 in bonds for $87,000 on Jan. 1. The bonds had a stated rate of 8%...Problem 1PA:
On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...Problem 2PA:
On July 1, Somerset Inc. issued $200,000 of 10%, 10-year bonds when the market rate was 12%. The...Problem 3PA:
Eli Inc. issued $100,000 of 8% annual, 5-year bonds for $103,000. What is the total amount of...Problem 4PA:
Evie Inc. issued 50 bonds with a $1,000 face value, a five-year life, and a stated annual coupon of...Problem 5PA:
Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July...Problem 6PA:
Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...Problem 1PB:
Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at...Problem 2PB:
Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity...Problem 3PB:
Starmount Inc. sold bonds with a $50,000 face value, 12% interest, and 10-year term at $48,000. What...Problem 4PB:
Irving Inc. sold bonds with a $50,000, 10% interest, and 10-year term at $52,000. What is the total...Problem 5PB:
Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...Problem 6PB:
Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...Browse All Chapters of This Textbook
Chapter 1 - Role Of Accounting In SocietyChapter 2 - Introduction To Financial StatementsChapter 3 - Analyzing And Recording TransactionsChapter 4 - The Adjustment ProcessChapter 5 - Completing The Accounting CycleChapter 6 - Merchandising TransactionsChapter 7 - Accounting Information SystemsChapter 8 - Fraud, Internal Controls, And CashChapter 9 - Accounting For ReceivablesChapter 10 - Inventory
Sample Solutions for this Textbook
We offer sample solutions for Principles of Accounting Volume 1 homework problems. See examples below:
More Editions of This Book
Corresponding editions of this textbook are also available below:
CENGAGENOWV2 FOR OPENSTAX'S PRINCIPLES
1st Edition
ISBN: 9780357364796
Related Accounting Textbooks with Solutions
Still sussing out bartleby
Check out a sample textbook solution.
