ed interest rate. The bond will pay every four months for two years, ending 3. The market interest rate is 9%. at is the journal entry made by Dexter's Drive-In to record the issuance of t tember 1st, Year 1? Some of the amounts have been filled out to help you. I wers to the nearest one decimal place.
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- On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semiannually. What is the journal entry to record the issuance of the bonds?On January 1 a company issues a $75,000 bond that pays interest semi-annually. The first interest payment of $1,875 is paid on July 1. What is the stated annual interest rate on the bond? A. 5.00% B. 2.50% C. 1.25% D. 10.00%On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated interest rate of 12% payable semi-annually on July 1 and January 1. The bonds were sold to yield 10%. Assuming the bonds were sold at 107.732, what is the selling price of the bonds? Were they issued at a discount or a premium?
- On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000 are to be made annually. If the company received proceeds of $112,300, how would the bonds issuance be quoted? A. 1.123 B. 112.30 C. 0.890 D. 89.05On Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds with a face value of $990 for $112,200. The bonds had a stated rate of 10% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Cash vOn the first day of the fiscal year, a company issues a $3,000,000, 11%. five-year bond that pays semiannual interest of $165,000 ($3,000,000 x 11% x ½), receiving cash of $2,889,599. (1) Before you even make the journal entry, can you tell whether the bond is being issued at face value, a discount, or a premium? If so, how? (2) Please journalize the bond issuance.
- On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds with a face value of $1,060 for $99,400. The bonds had a stated rate of 5% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Interest Expense Cash CashOn the first day of the fiscal year, a company issues a $2,800,000, 7%, 7-year bond that pays semiannual interest of $98,000 ($2,800,000 × 7% × ½), receiving cash of $2,958,145. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $920 for $95,800. The bonds had a stated rate of 5% and paid interest semi-annually. What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Jan. 1
- On January 1, the first day of the fiscal year, JeffersonCompany issues a $1,000,000, 6%, five-year bond. Themarket rate of interest is 8%. The bond pays interestsemiannually on June 30 and December 31, and isamortized semiannually using the effective interest ratemethod.A. Journalize the issuance of the bond on January 1.B. Journalize the semiannual interest payments on June 30and December 31 of the first year. The bond discountamortization is combined with the semiannual interestpayment.C. Determine the carrying amount of the bond at the end ofthe first year.On the first day of the fiscal year, a company issues an $440,000, 10%, five-year bond that pays semiannual interest of $22,000 ($440,000 x 10% x 1/2), receiving cash of $413,600. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9On the first day of the fiscal year, a company issues an $302,000, 8%, 5-year bond that pays semiannual interest of $12,080 ($302,000 x 8% x 1/2), receiving cash of $283,900. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.