At April 1, 2021, Candy Company sold the Sugar bonds for $3,090,000. Assuming Candy Company has a portfolio of Available-for-Sale Debt Securities, what the amount should Candy Company should report as a gain or loss on the Sugar bonds?

Q: On January 1, 2020, Aguilar Corporation purchased bonds with a face value of P4,000,000 for…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated…

A: Balance sheet is a statement showing the financial position of a company on a particular date. It is…

Q: On January 1, 2020, Blossom Company purchased $310,000, 6% bonds of Aguirre Co. for $284,855. The…

A: Under the effective interest method of amortization of discount or premium, the difference between…

Q: Pharoah Company purchased $1700000 of 11% bonds of Scott Company on January 1, 2021, paying…

A: Bond :- It is one of the type of securities that pays fixed periodic interest and face value at the…

Q: The Long-Term Debt section of Rodman Company’s balance sheet as of December 31, 2020, included 8%…

A: Long term debt is the item shown on the liabilities side of the Balance Sheet under the heading…

Q: On January 1, 2020, Splish Company purchased 5% bonds, having a maturity value of $ 440,000 for $…

A: The question is based on the concept of Financial Accounting.

Q: PT ABC purchased Rp300.000 of 8%, 5-year bonds from PT DEF on January 1, 2018, with interest payable…

A: Half Year Opening Balance Interest Expense @ 3.5% Coupon Payment Amortized Premium Ending Balance…

Q: On July 1, 2020, West Company purchased for cash, three $10,000 bonds of North Corporation at a…

A: Bonds Payable = $10,000 * 3 bonds = $30,000 The calculation for Issue Price of bonds: The present…

Q: (Available-for-Sale Debt Securities) On January 1, 2017, Novotna Company purchased $400,000, 8%…

A:

Q: The 8% bonds payable of Bonita Industries had a net carrying amount of $2860000 on December 31,…

A: Computation of the loss on the retirement of the bonds are as follows:

Q: Landis Company purchased $3,000,000 of 8%, 5-year bonds from Ritter, Inc. on January 1, 2018, with…

A: Other comprehensive income=Fair value of bonds-(Sales value of bonds-Amortized premiums)

Q: Sandhill Company purchased $3400000 of 8%, 5-year bonds from Blue, Inc. on January 1, 2021, with…

A: Given, Sales price of bond is $3,490,000 Carrying value of bond is $3,497,440   The computation is…

Q: On March 31, 2018, Wins Corporation issued $2,000,000 of its 6%, 10-year bonds for $1,758,200…

A: S.No. Date Particulars Debit Credit 1 March 31, 2018 Cash  $  1,758,200.00       Discount on…

Q: Presented below are two independent situations. a.   George Gershwin Co. sold $2,000,000 of 10%,…

A: a. Determine the amount of interest expense to be reported on July 1, 2020, and December 31, 2020.…

Q: On January 1, 2015, Marigold Corp. issued $17100000 of 10% ten-year bonds at 102. The bonds are…

A: Requirement of the question : calculation of gain/loss on reacquisition.Meaning of bonds : Bonds are…

Q: On July 1, 2020, West Company purchased for cash, twelve $10,000 bonds of North Corporation at a…

A: Journal Entry:   Journal entry has two effects for every transaction. The journal entry is passed…

Q: On March 1, 2020, Sealy Company sold its 5-year, $1,000 face value, 9% bonds dated March 1, 2020, at…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 7)  ABC Company purchased $1,200,000 of 7%, 5-year bonds from XYZ, Inc. on January 1, 2021, with…

A: Bond is that debt instrument which is used by the organisation to finance its long term fund needs,…

Q: Blossom Company purchased $1300000 of 8%, 5-year bonds from Carlin, Inc. on January 1, 2021, with…

A: When the sale price of bonds is greater than the book value of the bonds, then it would result in…

Q: Black Company purchased P400,000 of 10% bonds of White Co. on January 1, 2021, paying P376,100. The…

A: Bond :— It is one of the source of capital that pays fixed periodic interest and face value at the…

Q: On July 1, 2020, West Company purchased for cash, three $10,000 bonds of North Corporation at a…

A: Journal entry: It is prepared to record the financial and non-financial transactions of the business…

Q: Sheridan Company purchased $1750000 of 10% bonds of Scott Company on January 1, 2021, paying…

A: Lets understand the basics.Bond :— It is one of the source of capital that pays fixed periodic…

Q: Hiu Wang Company sold $55,000,000, 8%, 10-year bonds on January 1, 2020. The bonds apply interest on…

A: Face value of the Bonds = $55,000,000 Interest rate = 8% p.a. payable semi-annually on July 1 and…

Q: Blossom Company purchased $1180000 of 8%, 5-year bonds from Carlin, Inc. on January 1, 2021, with…

A: Bonds refers to the units of corporate debts which are issued by companies and also securitized…

Q: esto Corporation has authorized to issue$4,500,000 of its 9%, 5-year bonds On January 1, 2019, when…

A: 1) Journal Entry to record issue of Bonds. Date Particulars Debit Credit Jan 1 - 2019 Cash…

Q: anuary 1, 2020, Splish Company purchased $300,000, 6% bonds of Cabana Co. for $313,128. The bonds…

A: Amortization is an accounting procedure that is used to reduce the market valuation of a loan or an…

Q: Wildhorse Company purchased $1290000 of 8%, 5-year bonds from Blossom, Inc. on January 1, 2021, with…

A: Workings: Using the effective interest method:

Q: re on January 1, 2032, but were redeemable at 101 any time after December 31, 2025. Interest was…

A: A bond is a fixed-income security that reflects an investor's debt to a borrower.

Q: Pharoah Company purchased $3200000 of 9%, 5-year bonds from Wildhorse, Inc. on January 1, 2021, with…

A: The question is based on the concept of Financial Accounting.

Q: On January 1, 2021, Oak Ridge Ltd. purchased $185,000 of 11%, 10-year bonds at face value (100) with…

A: A bond is a type of debt given to the issuer in return of interest. The bonds may be held to…

Q: On December 1, 2017, Cone Company issued its 10%, $550,000 face value bonds for $640,000, plus…

A: Bond redemption is the process of repaying the principal amount of a bond to its bondholders upon…

Q: On December 1, 2017, Cone Company issued its 9%, $450,000 face value bonds for $520,000, plus…

A: Number of bonds=Total valueIssue price=$450,000$100=4,500

Q: On July 1, 2020, West Company purchased for cash, ten $10,000 bonds of North Corporation at a market…

A: Bonds: These are the coupon-paying securities issued in the capital market by a company or the…

Q: Landis Co. purchased €500,000 of 8%, 5-year bonds from Ritter, Inc. on January 1, 2021, with…

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…

Q: On June 30, 2020, Kikiam Inc. had outstanding 8%, P3,000,000 face amount, 15-year bonds maturing on…

A:

Q: On May 1, 2021, Bramble Corp. purchased $1,580,000 of 12% bonds, interest payable on January 1 and…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: On June 30, 2021, Waterway Industries had outstanding 8%, $8020000 face amount, 15-year bonds…

A:

Q: On January 1, 2019, Perez Corporation issued 5,000 of its 5 year, P1,000 face value, 11% bonds dated…

A: GIVEN   On January 1, 2019, Perez Corporation issued 5,000 of its 5 year, P1,000 face value, 11%…

Q: 2. On January 1, 2020, Novatpa Company purchased $1,000,000, 6% bonds of Aguirre Co. for $947,574.…

A: Here discuss about the details of the valuation of bond with the amortization of discount which are…

Q: On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid…

A: 3) Record the journal entries are as follows : Date Account Dr Cr    Cash$248,604.16     Bonds…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.