(8 Grades) On 1/1/2020, Blue Company issued 5 year, 9% bonds with a par value of $1,000,000 The company received $900,000 in cash. Interest is paid semiannually on 30 June and 31 December every year. Required: (1) Prepare the journal entry to record the bonds' issuance on 1/1/2020. (2) Prepare the journal entry to record the interest payment and the amortization of bond discount or premium on 30/6/2020 (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024 CLEARLY INDICATE THE DEBITS & CREDITS Example on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer 3/1/2020 Dr. Land 10,000 Cr. Cash 10,000 4 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph 3 Arial V 10pt A 7 v IXO *** WORDS FOWE Question 2 (4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows Common stock ($10 par value) $400,000, paid-in (contributed) capital in excess of par value $200,000, and retained earnings $150,000. During the year, the following treasury stock transactions occurred March 5 Purchased 5,000 shares for cash at $14 per share. April 25: Sold 2,000 treasury shares for cash at $15 per share. June 25: Sold 3,000 treasury sharbs for cash at $11 per share Required: Prepare journal entries to record the above treasury stock transactions CLEARLY INDICATE THE DEBITS & CREDITS Example XYZ Company pays $10,000 cash to purchase land Answer Dr. Land Cr. Cash 10,000 10,000 44 (3 Grades) On January 1, 2018, Manama Company has 8 % 80,000 shares of $10 par value, Cumulative preferred stock and 140,000 shares of common stock authorized, issued and outstanding at $5 par value. The Company declared and paid cash dividends as follows Year 2018 2019 2020 Dividends $50,000 $110,000 $190,000 Required: In the below table, determine the amount of cash dividends distributed to each class of shares over the three years Please: Present each year in a separate line. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Ma BIVS Paragraph V Arial x 10pt !!! 4 f 4 *** (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020. -Common stock, $20 par, 100,000 shares authorized, 30,000 shares issued and outstanding $600,000 -Paid in Capital in Excess of Par Value, Common Stock 400,000 -Retained Earings. The following transactions occurred during 2021: 1,000,000 1. Feb 20 Purchased 4,000 of its own shares for $30 per share. 2 March 10 Declared a $1 per share cash dividend on the outstanding common stock 7.5 points Save Alwy 3. April 07, Paid the cash dividends declared early in March 10. 4. May 20 Sold all treasury shares for $32 each 5 Oct 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10; The market value of stock on Oct. 1 was $28 per share 6 Dec 10 Distributed the shares which declared on Oct. 1. 7.Dec. 25: Implemented a 2-for-1 stock split, when the market value of stock was $26 per share NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that ocurred during 2021 CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer 1/1/2020 Dr Land Cr. Cash 10,000 10,000 For the toolbar. press ALT+F10 (PC) or ALT+FN+F10 (Mac) BI S Paragraph V Arial 10pt