1. On January 1, 2020, Walloon Company issued its 5% bonds in the face amount of...

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1. On January 1, 2020, Walloon Company issued its 5% bonds in the face amount of $25,000, which mature on January 1, 2027. The bonds were issued for $28,115 to yield 3%. Scottsdale uses the effective-interest method of amortizing bond discounts and premiums. Interest is payable annually on December 31. The 12/31/22 Premium on Bond Payable balance is: 2. On April 1, 2020, Sydney Company issued 300 $1,000 bonds at 97. Each bond was issued with four detachable stock warrants. Shortly after issuance, the bonds were selling at 94, and the warrants were selling for $40 each. Instructions: Prepare the entry to record the issuance of the bonds and warrants. 3. The Cinci Company issues $100,000, 10% bonds at 96 on November 1, 2020. The bonds are dated January 1, 2020 and mature eight years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2024. At December 31, 2025, the following balances existed for MICPA Corporation: Bonds Payable (6%) Discount on Bonds Payable $600,000 48,000 1. On January 1, 2020, Walloon Company issued its 5% bonds in the face amount of $25,000, which mature on January 1, 2027. The bonds were issued for $28,115 to yield 3%. Scottsdale uses the effective-interest method of amortizing bond discounts and premiums. Interest is payable annually on December 31. The 12/31/22 Premium on Bond Payable balance is: 2. On April 1, 2020, Sydney Company issued 300 $1,000 bonds at 97. Each bond was issued with four detachable stock warrants. Shortly after issuance, the bonds were selling at 94, and the warrants were selling for $40 each. Instructions: Prepare the entry to record the issuance of the bonds and warrants. 3. The Cinci Company issues $100,000, 10% bonds at 96 on November 1, 2020. The bonds are dated January 1, 2020 and mature eight years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2024. At December 31, 2025, the following balances existed for MICPA Corporation: Bonds Payable (6%) Discount on Bonds Payable $600,000 48,000