. On January 2, 2016, Santos Company issued 9% bonds in the amount of P10,000,000 which mature on January 2, 2026. The bonds were issued for P9,390,000 to yield 10% resulting in a bond discount of P610,000. Interest is payable annually on December 31. Santos uses the interest method of amortizing bond discount. in its December 31, 2016 statement of financial position, what amount should Santos report as bond payable?

Q: On June 30, 2020, Ayayai Company issued $3,810,000 face value of 16%, 20-year bonds at $4,956,520, a…

A: Introduction: A journal entry is a recording of a business contract in the accounting system of a…

Q: On January 2, 2016, Banno Corp. issued P1,500,000 of 10% bonds to yield 11% due December 31, 2025.…

A: The answer is stated below:

Q: On January 1, 2023, Crane Ltd. issued $2130000, 5% bonds, which mature on January 1, 2030. The bonds…

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Q: On January 1, 2016, Crammer Inc. issues five-year bonds with a total face amount of $1,000,000 and a…

A: Bonds payable is a form of liability being incurred by the business, on which regular interest…

Q: On June 30, 2016, Hardy Corporation issued $10.5 million of its 8% bonds for $9.5 million. The bonds…

A: Bond Issued = 8% or 4% SemiannuallyBonds were priced to yield = 10% or 5% Semiannually Calculation…

Q: On July 1, 2014, Oladipo Corporation issued 11% bonds in the face amount of P2,000,000 that mature…

A: Carrying  value  is present value of future  cash flows discount @5%(10/2)

Q: On January 1, 2018, Wawatosa Inc. issued 7-year bonds with a face value of $100,000 and a stated…

A: Issue price of the bonds = Present value of principal + Present value of interest payments where,…

Q: 4.  On July1, 2018, Dixon Inc. issued bonds with a $500,000 face value at 96.0 and the 5-year bonds…

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: On Janaury 31, 2016, Large Corp. issued P 3,000,000 maturity value 12% bonds for P 3,000,000 cash.…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: On January 1, 2016, United Corp. issued its 9% bonds in the face amount of P 2,000,000, which mature…

A: Bonds is an investment security in which investors invest amount in exchange of regular interest…

Q: On March 1, 2018, Baddour, Inc., issued 10% bonds, dated January 1, with a face amount of $160…

A:

Q: Bonds with a stated interest rate of 9% and a face value totaling $626,000 were issued for $651,040…

A: BOND  Bond is a Financial Securities which is Generally Issued by the Corporation's, Government…

Q: Bonds with a stated interest rate of 9% and a face value totaling $632,000 were issued for $657,280…

A: Bond amortization refers to the value which is paid at every period including the amount of…

Q: On January 2, 2012, Halcon Company issued 9% bonds in the amount of P8,000,000 which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $165…

A: 1. Compute amount of bonds report in its balance sheet as shown below:     Working note:   Compute…

Q: A. On January 1, 2021, Bradley Company issued $100,000, 9%, 4-year bonds. Interest is paid…

A:

Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…

A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200

Q: On January 1, 2018, Wauwatosa Inc. issued 5- year bonds with a fave value of $200,000 and a stated…

A: When the issue price of the bond is higher than its face value, the bonds are said to be issued at a…

Q: On January 1, 2019, Cranky Company issued 100, 5% stated. rate $1,000 bonds dated January 1, 2019,…

A: Bond valuation is a method for figuring out an individual bond's hypothetical fair value. Bond…

Q: On January 1, 2021, Green company issued P1,000,000, 12% bonds for P1,065,000, a price that yields…

A: Carrying value of the bonds payable is the value of the bonds on the books inculing the face value…

Q: $939,000 to yield 10%. Alquds uses the effective-interest method of amortizing bond discount.…

A: Un amortized bond discount ,7/1/ Year 1   Bond discount amortization ,7/1/ Year 1 to  6/30/Year3:…

Q: On January 1, 2006, Okon Company issued 5,000 of its 9%, P1,000 face value bonds at 95.  Interest is…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: The Gorman Group issued $900,000 of 13% bonds on June 30, 2016, for $967,707. The bonds were dated…

A: 1.

Q: 000. Intere 1, 2026. Th nounts to P1: rued interest

A: Journal  entries  in the books  of Prancer  Co. for the year 2021 Date 2021 Particular  Post…

Q: On November 1, 2016, Melissa Corp. issued P 800,000 of its 10- year,8% term bonds dated October 1,…

A: Bonds are units of corporate debt issued by companies and securitized as tradeable assets.     Given…

Q: On January 1, 2006, Ward Company issued its 9% bonds in face amount of P4,000,000, which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: 14. On January 1, 2012, London Company issued its 9% bonds in the face amount of P2.0 million which…

A: Bonds are a form of loan or debt that is being issued by the company, on which regular interest…

Q: de, Inc. issued $758,000 of bonds on December 15, 2022, when the market rate of interest was 6%. The…

A: Here are the journal entries to record the issuance of the bonds on December 15, 2022, and the…

Q: On May 1, 2016, Bench Co. issued 11% bonds in the face amount of P 1,000,000 that mature on May 1,…

A: Solution: Face amount of bond= P1,000,000 Premium on issue of bond = P62,000 Issue price of bond =…

Q: On January 1, 2021, Daniel Corp. issued $500,000 of 10-year, 8% bonds for $385,298, yielding a…

A: Bonds payable refer to financial instruments which can be issued to raise capital. Bonds are issued…

Q: Brooke Company issued P6,000,000, 11%, 10 year bonds on May 31, 2016 when the market interest was…

A: Variables in the question:Par value of bond= P100Market value of bond=106.25Value of bond…

Q: Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30,…

A: Face value of bonds: $425,000,000 Issued Bonds: $361,772,495 Effective interest rate: 6% Interest…

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $400 million on July…

A:

Q: On January 1, 2006, Naruto Company issued 9% bonds in the amount of P5,000,000, which mature on…

A: To answer above question, following bond amortization table will be compiled till 30 June, 2006:…

Q: Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on…

A: When the bonds are issued at more than their par value it means that it has been issued at the…

Q: 12. On January 1, 2017, Milky-way Company issues $2million, 10 year, 7% bonds at 98, with interest…

A: In the above question Milky way has issued $2 million 7% bonds on January 1, 2017 on discount and…

Q: Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $320 million on…

A: Bond is a financial instrument to raise funds. The company issues bonds to raise an amount of money…

Q: On January 1, 2016, Denver Inc. issued its 10% bonds in the face amount of P400,000, which mature on…

A: Please see Step 2 for required information.

Q: On September 30, 2016, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of…

A: Determine present value of annuity amount (interest).

Q: On January 1, 2018, Surreal Manufacturing issued 560 bonds, each with a face value of $1,000, a…

A: Cash Interest=Face Value×Interest rate=$560,000×3%=$16,800

Q: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entries to record the bond issue,…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…