Question : 31) The journal entry to record $200,000 of bonds that : 1232344

 

31) The journal entry to record $200,000 of bonds that were issued at 97 would be to:

A) debit Cash, $194,000; debit Discount on bonds payable, $6,000; credit Bonds payable, $200,000.

B) debit Cash, $194,000; credit Bonds payable, $194,000.

C) debit Cash, $200,000; credit Bonds payable, $194,000; credit Premium on bonds payable, $6,000.

D) debit Cash, $200,000; credit Bonds payable, $200,000.

32) The journal entry to record $300,000 of bonds that were issued at 107 would be to:

A) debit Cash, $321,000; credit Bonds payable, $321,000.

B) debit Cash, $321,000; credit Bonds payable, $300,000; credit Premium on bonds payable, $21,000.

C) debit Cash, $300,000; credit Bonds payable, $300,000.

D) debit Cash, $300,000; debit Discount on bonds payable, $21,000; credit Bonds payable, $321,000.

33) The journal entry to record $300,000 of bonds that were issued at 95 would be to:

A) debit Cash, $300,000; credit Bonds payable, $285,000; credit Premium on bonds payable, $15,000.

B) debit Cash, $285,000; credit Bonds payable, $285,000.

C) debit Cash, $300,000; credit Bonds payable, $300,000.

D) debit Cash, $285,000; debit Discount on bonds payable, $15,000; credit Bonds payable, $300,000.

34) $300,000 of 10%, 20-year bonds were sold for $320,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $15,000; credit Cash, $15,000.

B) debit Interest expense $15,500; credit Premium on bonds payable, $500; credit Cash, $15,000.

C) debit Interest expense $14,500; debit Premium on bonds payable, $500; credit Cash, $15,000.

D) debit Interest expense $14,500; credit Cash, $14,500.

35) $500,000 of 8%, 10-year bonds were sold for $530,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $18,500; debit Premium on bonds payable, $1,500; credit Cash, $20,000.

B) debit Interest expense $18,500; credit Cash, $18,500.

C) debit Interest expense $21,500; credit Premium on bonds payable, $1,500; credit Cash, $20,000.

D) debit Interest expense $20,000; credit Cash, $20,000.

36) $200,000 of 6%, 25-year bonds were sold for $190,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $6,000; credit Cash, $6,000.

B) debit Interest expense $6,200; credit Discount on bonds payable, $200; credit Cash, $6,000.

C) debit Interest expense $5,800; debit Discount on bonds payable, $200; credit Cash, $6,000.

D) debit Interest expense $6,200; credit Cash, $6,200.

37) $400,000 of 12%, 10-year bonds were sold for $380,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $24,000; credit Cash, $24,000.

B) debit Interest expense $23,000; debit Discount on bonds payable, $1,000; credit Cash, $24,000.

C) debit Interest expense $25,000; credit Cash, $25,000.

D) debit Interest expense $25,000; credit Discount on bonds payable, $1,000; credit Cash, $24,000.

38) A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020. The journal entry to record the payment of the bond on the maturity date is to:

A) debit Cash, $250,000; credit Bonds payable, $250,000.

B) debit Bonds payable, $250,000; credit Cash, $250,000.

C) debit Cash, $275,000; credit Bonds payable, $275,000.

D) debit Bonds payable, $275,000; credit Cash, $275,000.

39) A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015. The journal entry to record the payment of the bond on the maturity date is to:

A) debit Cash, $400,000; credit Bonds payable, $400,000.

B) debit Bonds payable, $400,000; credit Cash, $400,000.

C) debit Cash, $363,000; credit Bonds payable, $363,000.

D) debit Bonds payable, $363,000; credit Cash, $363,000.

40) Bonds payable minus the Discount on bonds payable yields the:

A) maturity value.

B) annual interest.

C) carrying amount.

D) principle amount.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more