Question

Nocioni Company issued $1,000,000 of bonds on January 1, 2012. Prepare the journal entry to record...

Nocioni Company issued $1,000,000 of bonds on January 1, 2012.

Prepare the journal entry to record the issuance of the bonds if they are issued at 100%, 98% and 103%.

Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100%.

Prepare the journal entry to record the retirement of the bonds before maturity at 98.

Assume the balance in Premium on Bonds Payable is $9,000. Prepare the journal entry to record the conversion of the bonds into 30,000 shares of $10 par value common stock.

Assume the bonds were issued at par.

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