Cullumber Corporation issues $430,000 of bonds for $447,200. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented whe is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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- Help mePharoah Company issued $500,000 of bonds on January 1, 2020. (a) Your Answer Correct Answer (Used) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Bonds Payable Cash Debit 500,000 Credit 500,000Crane Company issued $1,730,000 of bonds on January 1, 2022. (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 105. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (2) (3) Debit Credit
- Prepare the entry to record the retirement of half the bonds still outstanding on January 1, 2022 for a cash payment of $1,220,000. Assume the accrued interest was paid. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Jan. 1, 2022 Debit CreditPharoah Company issued $500,000 of bonds on January 1, 2020. (a) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit CreditThe following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Required: 1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Y2. 3. Determine the carrying amount of the bonds as of December 31, 20Y2.
- On December 31, a $1,550,000 bond issue on which there is an unamortized discount of $73,900 is redeemed for $1,500,600. Required: Journalize the redemption of the bonds. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Y2. 3. Determine the carrying amount of the bonds as of December 31, 20Y2. (Refer to image, thank you!)Sport Enterprises have individual accounts for their debtors in a debtors subsidiary ledger and have a debtors control account in the general ledger. The balance of the debtors control account at 1 May 2021 is R169 200. The following information was provided for the month ending 31 May 2021: NB: Insert the amount of R4 500 for the credit note in additional amount 3.4 1. Journals provided the following totals for relevant transactions: For the month ended 31 May 2021: Sales journal: Dehtors column 762 000 Sales returns journal 6 300 Cash receipts journal: Debtors column 586 800 2 100 General Journal: Interest charged on overdue debtors' accounts General Journal: Debtors balances written off as irrecoverable 2 700 2. The debtors ledger clerk submitted the following: List of debtors balances as at 31 May 2021 – debit balances C Gale 31 500 Н Bot 132 300 G Hunt 182 700 I Khune 18 900 R Nadal 9 000 3. Additional information to be taken.into.account (not included in the above): 3.1 No entry…
- Oriole Company issued $510,000 of bonds on January 1, 2020. (a) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later I Debit 510000 Credit 510000 Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Submit AnswerOn October 1. 2020, Shamrock, Inc. assigns $1,160.700 aof its accounts recelvable to Bridgeport National Bank as collateral for a $747,900 note. The bank assesses a finance charge of 3 of the receivables assigned and interest on the note of 9N Prepare the October 1 journal entries for both Shamrock and Bridgeport. fno entryis required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automutically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Shamrock. Inc. Oct. 1 Bridgeport National Bank Oct. 1 Sheffield Incorporated factored $134.100 of accounts receivable with Engram Factors Inc. on a with recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 7% of accounts receivable for possible adjustments Prepare the journal entry for Sheffield to record the sale, assuming that the recourse liability has a fair value of…The following section is taken from Crane's balance sheet at December 31, 2021. Current liabilities Interest payable Long-term liabilities Bonds payable (8%, due January 1, 2025) (a) Interest is payable annually on January 1. The bonds are callable on any annual interest date. (b) Journalize the payment of the bond interest on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 1, 2022 eTextbook and Media List of Accounts Save for Later $33,000 412,500 Account Titles and Explanation Date Account Titles and Explanation Jan. 1, 2022 Debit Attempts: 0 of 5 used Assume that on January 1, 2022, after paying interest, Crane calls bonds having a face value of $165,000. The call price is 101. Record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Submit Answer Credit