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raketka [301]
2 years ago
11

Landmark Corp. buys $500,000 of Schroeter Company's 8%, 5-year bonds payable at par value on September 1. Interest payments are

made semiannually. Landmark plans to hold the bonds for the 5-year life. When the bonds mature, the journal entry to record the proceeds will be:
Business
2 answers:
marta [7]2 years ago
6 0

Answer:

Dr. Cash                        $500,000

Cr. Bond Receivables  $500,000

Explanation:

Thee bond will mature at par, it means the par value will be received at the time of maturity. As Landmark Corp is a bond holder and it has to receive the par value. The account of Bond receivable will be credited to eliminate the a receivable and cash is debited as it is received and its balance needs to increase.

zzz [600]2 years ago
3 0

Answer:

Dr Cash                          $500,000

Cr Long-term investment                      $500,000

Explanation:

In order to determine the journal entry to pass when the bond matures,it would appropriate to first of all understand the entries posted  when the bond was purchased,which is that cash was credited and long term investment account was debited.

The reverse would be the case at maturity which is that cash account would now receive an inflow,hence debited with $500,000  while the long-term investment certificate is parted with ,as a result the account should be credited as appropriate.

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Read 2 more answers
In Crane Company, land decreased $154000 because of a cash sale for $154000, the equipment account increased $55000 as a result
Naya [18.7K]

Option (B) The net cash provided by investing activities is $99000 is correct.

<h3>What is net cash?</h3>
  • On a company's financial statements, net cash is a sum that is given.
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  • When assessing the cash flows of a corporation, the net cash figure is frequently utilized.
<h3>What is cash flow?</h3>
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<h3>Calculation of Net cash provided by investing activities:</h3>

Net cash provided by investing activities = land ($154000 cash inflow) - equipment purchase ($55000 cash outflow) = $99000

Hence, The net cash provided by investing activities is $99000.

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