Accounting Accounting Practice Problems Solutions Library

Premium on Bonds Solutions Library

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6 solutions

Premium on Bonds

Q. Yarborough Enterprises issued a $500,000 of bonds payable with a 10% interest rate at a price of 104. The journal entry to record the issuance of t...

Solved • Nov 17, 2017

Premium on Bonds

Q. On July 1, 2012, Wilson Co. issued $300,000, five-year, 9% bonds at 103. The reason that Wilson issued the bonds at a premium was: A. the stated r...

Solved • Nov 17, 2017

Premium on Bonds

Q. When the premium on bonds is amortized, the amount of recognized interest expense is A) greater than the amount of cash paid for interest. B) equ...

Solved • Jul 31, 2017

Premium on Bonds

Q. Yarborough Enterprises issued $500,000 of bonds payable with a 10% interest rate at a price of 104. The journal entry to record the issuance of thi...

Solved • Jul 16, 2017

Premium on Bonds

Q. Morgan Company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semi-annually. The current market rate is 8%. The amount of ...

Solved • Jul 12, 2017

Premium on Bonds

Q. Bonds with a face value of $200,000 were issued at 103. The entry to record the issuance will include a credit to the Bonds Payable account for a)...

Solved • Jul 12, 2017