Make a journal entry to document the issuance of a bond through a face amount of $1,000,000 offered at 98. 

Cash $1,000,000 

Premium on Bonds Payable $20,000 

Bonds Payable $980,000 

Cash $980,000 

Premium on Bonds Payable $20,000 

Bonds Payable $1,000,000 

Cash $980,000 

Discount on Bonds Payable $20,000 

Bonds Payable $1,000,000 

Cash $980,000 

Bonds Payable $980,000 

 



FIND
*

*

*

*Response times might differ by topic and question complexity. Median response time is 34 minutes for passist subscribers and also may be longer for promotional supplies.

You are watching: Bonds with a face amount of $1,000,000 are sold at 98. the entry to record the issuance is


Q: Record the bond concern and also first interest payment assuming the confront amount of bonds payable is…

A: Bonds are issued by the company to accomplish the financial demands of the firm without shedding its…


Q: On the first day of the fiscal year, a agency concerns a $3,000,000, 11%. five-year bond that pays…

A: Bond Payable: It is the licapacity of the agency which hregarding pay within the forced duration of…


Q: On the first day of the fiscal year, a agency concerns an $2,750,000, 8%, five-year bond that pays…

A: Interemainder is calculated as a portion of the loan (or deposit) balance, which is passist to the lender…


Q: (a)Prepare the journal enattempt to problem $500,000 bonds that offered for $470,000.

A: Bonds are thought about a financial instrument offered to raise finance for the organization. It is also…


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

A: Journal entries are passed following the golden rules of accounting Delittle all assets and also expenses…


Q: ive thousand bonds via a face worth of $2000 each, are sold at 93. The enattempt to document the issuance…

A: Bonds are thought about a financial instrument supplied to raise finance for the organization. It is also…


Q: On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds via a challenge value of $1,060 for $99,400. The bonds…

A: Solution:journal entry to document the initially payment to the bondholders is as under:


Q: Assume that you are the accountant of among the investors of the bonds. The investor purchased P10,…

A: DateAccounts titleDebit (P)Credit (P)1Investment in BondsP10,000,000 Cash…


Q: A firm problems bonds through a challenge worth of $5,000,000 and receives cash proceedsof $5,500,000 from…

A: Journal entries are prepared to document the financial and non financial transactions of the business…


Q: On the first day of the present fiscal year, $200,000 of 10-year, 7% bonds, through interest payable…

A: Bonds Bond is a permanent financial instrument issued by a agency for which the agency pays…


Q: On Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds through a confront value of $990 for $112,200. The bonds…

A: Interest is passist to the bondholders on the basis of coupon price mentioned on the bond document…


Q: On the first day of the fiscal year, a agency concerns an $2,250,000, 12%, five-year bond that pays…

A: Premium on worry of bonds = Cash got - Par worth of bonds= $2,379,360 - $2,250,000= $129,360


Q: On the initially day of the fiscal year, a agency worries an $946,000, 8%, 5-year bond that pays…

A: Solution:Discount on concern of bond = Face worth - Issue price= $946,000 - $889,240= $56,760…


Q: On January 1, Hurley Corporation issues $1,000,000, 5-year, 12% bonds at 96 with interest payable on…

A: Bonds are a type of debt taken by the agency. When bonds are issued at a discount or premium, then…


Q: On the first day of the fiscal year, a firm concerns a $500,000, 8%, 10-year bond that pays…

A: Bonds payable are financial tools. It representing a company’s commitment to pay back a…


Q: initially day of the fiscal year, a firm problems a $950,000, 10%, 5-year bond that pays semiannual…

A: Solution:When the confront worth of bond is better than problem price of bonds then that represents that…


Q: On the first day of the fiscal year, a agency worries a $3,500,000, 6%, five-year bond that pays…

A: Bonds are a form of loan or debt issued by the company, on which it hregarding make continual interest…


Q: On the initially day of the fiscal year, a company worries a $3,500,000, 6%, five-year bond that pays…

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


Q: On the initially day of the existing fiscal year, $200,000 of 10-year, 7% bonds, via interest payable…

A: Premium on Bonds Payable: When the bonds are issued at even more than the fair worth, then it is known as…


Q: On the first day of the fiscal year, a company concerns a $1,100,000, 6%, 9-year bond that pays…

A: When a bond issued for a amount more than its confront worth then the excess amount received would certainly be…


Q: A $1,000 bond, through interemainder at 9 ½% on March 1 and also September 1, was purchased on November 23.…

A: Accrued interest: Accrued interest is the superior interemainder expense in the bookkeeping duration, as…


Q: On the first day of the fiscal year, a firm concerns a $5,100,000, 12%, 6-year bond that pays…

A: Journal entry: Journal entry is a collection of economic events which have the right to be measured in financial terms.…


Q: On January 1, 2021, Bank Nizwa. issued RO 90,000, five-year, 12% bonds at (100% of confront value). The…

A: At the moment of issue of the bond, interemainder is not videotaped. It is tape-recorded as soon as the amount becomes…


Q: On the initially day of the fiscal year, a agency concerns a $1,000,000, 7%, five-year bond that pays…

A: Bonds Bond is a permanent financial instrument issued by a company for which the agency pays…


Q: On the initially day of the fiscal year, a agency issues a $3,500,000, 6%, five-year bond that pays…

A: Under right line amortisation, the bond discount is amortised equally in annually.


Q: On the initially day of the fiscal year, a agency worries an $4,900,000, 6%, 4-year bond that pays…

A: As posted multiple independent concerns we are answering just initially question kindly rearticle the…


Q: On the initially day of the present fiscal year, $200,000 of 5-year, 10% bonds, via interemainder payable…

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


Q: A $500,000 bond issue on which tbelow is an unamortized discount of $35,000, is reunderstood for…

A: Outstanding Bonds of $465,000 ($500,000 - $35,000) are reunderstood for $475,000 So, $10,000 is the Loss…


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

A: BondsBond is a long-term financial instrument issued by a company for which the firm pays…


Q: On the first day of the fiscal year, a firm worries a $3,500,000, 6%, five-year bond that pays…

A: Bonds are a resource of funds for a organization as a licapability. It is a form of loan wright here charges are…


Q: On the initially day of the fiscal year, a firm problems an $800,000, 6%, 5-year bond that pays…

A: Click to see the answer


Q: A Company type of issued $480,000 of 7% bonds onJanuary 1. İnterest is payable semiyearly onJuly 1 and…

A: BONDSBond is a kind of solved income instrument under which the borrower of the money worries the…


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

A: A bond is a debt instrument supplied by the company and also governments to raise resources to finance the…


Q: The Hayden Corporation concerns 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal…

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


Q: On the first day of the fiscal year, a company concerns a $1,900,000, 10%, 9-year bond that pays…

A: A bond is referred to as a financial instrument that a firm problems to fulfill its financial…


Q: On the first day of the fiscal year, a company concerns a $1,450,000, 5%, five-year bond that pays…

A: Discount on Bonds Payable = Face worth of the bonds - Issue value of the bonds= $1,450,000 -…


Q: Bonds with a challenge value of $1,000 were issued for $1,080. Which ONE of the followingwould be…

A: As posted multiple independent inquiries we are answering only first question kindly rearticle the…


Q: The Hayden Corporation problems 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal…

A: Journal:Recording of a service transaction in a chronological order.


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

A: The bonds are issued on discount as soon as sector rate is better than the proclaimed rate of interest.


Q: a $300,000 bond was redeemed at 104 as soon as the transporting value of the bond was $316,000. The entry to…

A: Payment made on redemption = Bond challenge value x rate of redemption= $300,000 x 104%= $312,000…


Q: Medhurst Corporation issued $86,100 in bonds for $83,000. The bonds had a proclaimed price of 8% and pay…

A: Introduction:Journal:Recording of a service transactions in a chronological order.First action in…


Q: On December 31, 20x0, the Robin Corporation problems $5,000,000 of 5% bonds. Thebonds are due on…

A: When a agency issues bonds, it incurs a irreversible licapacity on whichperiodic interest payments…


Q: A $1,000,000 bond issue on which tright here is an unamortized premium of $71,600 is redeemed for…

A: Gain (loss) on redemption of the bonds = Face value of the bonds + unamortized premium - amount…


Q: Issuing Bonds at a DiscountOn the initially day of the fiscal year, a company worries a $8,800,000, 11%,…

A: A journal entry is supplied to record day-to-day transactions of the service by debiting and crediting…


Q: On the first day of the fiscal year, a agency concerns a $8,000,000, 9%, 10-year bond that pays…

A: Bonds are kinds of loan via continual interemainder payment and also mature after certain duration of times.

See more: Which Depreciation Method Is Generally Preferable For Income Tax Purposes? Why?


Q: On May 1, 2018, Environment-friendly Corporation issued $1,100,000 of 12% bonds, dated January 1, 2018, for…

A: Click to watch the answer


Q: Schlitterbahn Waterslide Company kind of issued 36,000, 10-year, 4 percent, $100 bonds on January 1 at face…

A: Prepare journal entry to document issuance of bonds:


Q: On the first day of the fiscal year, a firm issues a $621,000, 11%, 10-year bond that pays…

A: vv


Q: Mission Furniture issued $500,000 in bonds payable at par. The journal enattempt to document asemiannual…

A: Correct answer is dInterest payment on bond is tape-recorded as adheres to. Interemainder costs Dr. Cash…


Q: On June 30, Jameson Company kind of issued $2,500,000 of 10-year, 8% bonds, dated June 30, for $2,580,000.…

A: The journal entries for the above transactions are tape-recorded below:


Need a deep-dive on the principle behind this application? Look no further. Discover even more about this topic, bookkeeping and connected others by trying out comparable concerns and also extra content below.