bonds
Q: LA Fitness Company issued a $10,000,000, 5-year, 7% callable bond on January 1, 2018, when the…
A: In the given question neither the face value of bond , nor the issue price of bond is given.…
Q: On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value…
A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…
Q: On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at…
A: Step 1 is for understanding initial Entries and Understanding the flow if you want Direct Answer…
Q: Bradley-Link’s December 31, 2021, balance sheet included the following items: Long-Term…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Loop Raceway issued 700 bonds, each with a face value of $1,000, a stated interest rate of 6 percent…
A: Bonds that have an amortized face value are ones that pay interest in addition to regular payments…
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 January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated…
A: Bonds Payable: A bond payable is the long-term liability shown in the balance sheet that needs to be…
Q: Porter, Inc. issued $400,000, 10-year, 10% bonds for $354,200 on January 1, 2022; the bonds pay…
A: Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…
Q: Auerbach Inc. Issued 10% bonds on October 1, 2021. The bonds have a maturity date of September 30,…
A: Bonds are a form of debt or liability for the business, on which regular interest payments also…
Q: Requirement 1. If the market interest rate is 5% when ACU issues its bonds, will the bonds be priced…
A: The bonds are the debt instrument. These debt instruments are generally issued by the corporation or…
Q: Ignoring interest, compute the gain or loss. Loss on redemption $ Ignoring interest, record…
A: Bonds: Bonds are long-term promissory notes that are represented by a company while borrowing…
Q: On January 1, 2024. Ithaca Corporation purchases Cortland Incorporated bonds that have a face value…
A: Bond is a debt security which is purchased to earn the fixed interest on the investment with low…
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 September 30, 2016, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of…
A: A coupon bond is a type of debt security issued by governments, municipalities, or corporations. It…
Q: In 2022, Dvorak Company issued $200,000 of bonds for $189,616. If the stated rate of interest was 6%…
A: Note: Under effective interest method, interest expense is calculated by multiplying the yield or…
Q: On June 1, 2024, Carla Vista Bottle Company sold $2,880,000 in long-term bonds for $2,526,064. The…
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Oriole SpA issued €400,000, 7%, 20-year bonds on January 1, 2020, for €360,727. This price resulted…
A: Effective Interest Method: It is an accounting method that helps in calculating the discount on…
Q: How much interest will Flamengo pay to the bondholders on December 31 2022?
A: It is pertinent to note that the current price or value of bond is the present value of all cash…
Q: Swifty Company sells 8% bonds having a maturity value of $1,600,000 for $1,369,300. The bonds are…
A: The question is based on the concept of Financial Accounting.
Q: The balance sheet of Rays Corporation as of December 31, 2022, included 10.25% bonds having
A: Total Debit to p&l = Discount on issue of debentures + Premium on redemption of Debentures.
Q: On January 1, 2024, Rare Bird Limited purchased 15% bonds dated January 1, 2024, with a face amount…
A: The bonds a debt securities issued by corporations and government entities to raise funds. Bonds are…
Q: Claremont Inc. issued a $400,000 bond on January 1, 2020. The bond had a five-year life and an 8%…
A: A bond is an instrument of an indebtedness to the holders of bond issuer in finance. The most…
Q: On January 1, 2021, Nell issued 600,000 in non-interest-bearing bonds that mature on January 1,…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
Q: On February 1, 2023, Wege Corporation issued $900,000 in long-term bonds. The bonds will mature in…
A: In the journal entry for the issuance of the bond, The cash account is debited because cash…
Q: n January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at…
A: Bonds can be converted to the number of shares upon the expiration of bond. Or bonds may be retired…
Q: On January 1, 2020, Bobond issued a 3-year, 9% P1,000,000 at par. Interest is payable semi-annually…
A: Bonds are longer term sources of finance for companies and bonds are lower cost of source of finance…
Q: On June 30, 2020, Nash Company issued $3,730,000 face value of 14%, 20-year bonds at $4,291,220, a…
A: Premium on Bonds payable = Issue price of bonds - Face value of bonds = $4,291,220 - $3,730,000 = $
Q: On January 1, 2021, Cullumber Ltd. issued bonds with a maturity value of $8,900,000 when the market…
A: The bonds refer to the debt instruments issued by corporations and government entities. When bonds…
Q: ← The Airfoil Aircraft Company has issued 5% convertible bonds that mature October 1, 2029. Suppose…
A: The Airfoil Aircraft Company issued 5% convertible bonds at a price of 93.4, meaning the bonds were…
Q: On January 1, 2020, Kabond issued a 3-year bond with conversion feature, 9% P1,000,000 at par.…
A: Conversion feature P1000000 9% of P1000000 P90000 Rate per Year (90/3) P30000 Total value…
Q: On January 1, 2011, Boyle Company issued 9% bonds in the face amount of P5,000,000 which mature on…
A: Answer) Calculation of Selling Price of Bonds Face Value of Bonds = P 5,000,000 Annual Coupon rate =…
Q: On January 1, 2020, Lolo Company issued its 9% P9,000,000 face value bonds, which matures on January…
A:
Q: Nash Co. sells $534,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and…
A: Bonds represent debts issued by the firm to meet the capital requirements. They act as a promise by…
Q: On June 30, 2024, Gunderson Electronics issued 8% stated rate bonds with a face amount of $300…
A: A bond is a fixed income security which offers the investor a fixed set of periodic coupon payments…
Q: please step by step answer.
A: Step 1: To find the carrying value of the bonds on December 32, 2026, we need to calculate the…
Q: Munabhai
A: The objective of the question is to determine the amount that RMT Corp. would report as Bonds…
Q: On January 1, 2021, Jackie Company issued P8,000,000 8% eight-year bonds. Similar bonds had an…
A: The carrying value of bonds refers to the amount shown as liability by issuer in accounting records…
Q: On January 1, 2020, ABC Company issued its 9%, P2 million bonds, which mature on January 1, 2030.…
A: Date Account Titles & Explanation Debit Credit January 1, 2020 Cash P18,78,000…
Q: . On January 1, 2020, Dawson Inc. issued bonds with a face value of $400,000 and coupon interest…
A: To know whether the bond is issued at a premium or discount we need to find out the Price of the…
Q: On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of…
A: The rate of return an investor would anticipate receiving if they were to buy and keep the bond…
Q: 1. On January 1,2020, Kooky Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds…
A: Face value, also known as par value or nominal value, refers to the stated value of a financial…
Q: On January 1, 2019, $40 million face amount of 5%, 20-year bonds were issued. The bonds pay interest…
A: Bond is issued by the companies in order to raise fund. The bondholders receive a fixed amount of…
Q: Un January 1, 2021, Concord Corp. issued five-year bonds with a face value of $370,000 and a coupon…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
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- On January 1, 2020, Swifty Company sold 12% bonds having a maturity value of $450.000 for $484,117. which provides the bondholders with a 10% yield. The bonds are dated January 1,2020, and mature January 1.2025, with interest payable December 31 of each year. Swifty Company allocates interest and unamortized discount or premium on the effective-interest basis, (a) Your answer is correct. Prepare the journal entry at the date of the bond issuance. (Round answer to O decimal places, eg 38,548. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit January 1. 2020 Cash 484117 Bonds Payable 450000 Premium on Bonds Payable 34117 Attempts. 2 of3 used (b) Prepare a schedule of interest expense and bond amortization for 2020-2022. Round answer to O decimal places, e 3854) Schedule of Interest Expense and Bond…Hh3.On January 1, 2021, Baltimore Company issued $400,000 face value, 5%, 5-year bonds at 103. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the annual bond premium amortization. Round your answer to the nearest whole number (no cents).
- On January 1, 2020, Blindo Corp. issued ten - year, 12% bonds with a face value of $ 500,000, with interest payable semi-annually on June 30 and December 31. At the time, the market rate was 10%. Required: a) Find PMT and Use your calculator to calculate the issue price of the bonds. Round the answer to the nearest dollar. b) Independent of your solution to part a), assume that the issue price was $ 562, 000. Prepare the amortization table for 2020. Round values to the nearest dollar.Accounting 7) On January 1, 2016, Giant Company issued an 8% callable bond which has a par value of $200,000 for $180,000. The bond is callable at 106 any time after January 1, 2020. One-half of the bond was called back on January 1, 2021 when the unamortized discount had a balance of $4,000. Compute the amount of the gain or loss when the bond was retired on January 1, 2021.On January 1, 2020, Sunny Company issued its 9% P9,000,000 face value bonds, which matures on January 1, 2030 for P8,451,000 to yield an effective rate of 10%. Sunny Company uses straight-line method of amortization. Interest is payable annually on December 31. At December 31, 2020, what is the balance of the discount on bonds payable? a. P464,490 c. P531,900 b. P591,000 d. P472,800
- On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at 110. The principal of the bonds is payable on December 31, 2024. Interest on the bonds is payable annually starting December 31,2020. Each P 5,000 bond is convertible into 20 ordinary shares of P 50 par. Without the bond conversion privilege, the bonds would have sold to yield 10%.On December 31,2021 after paying periodic interests, half of the bonds issued were converted to ordinary shares. On October 1,2023, half of the remaining bonds were retired at 102 plus accrued interest. Without the bond conversion privilege, the bonds are quoted at 101.How much was credited to the share premium- ordinary account at the time of conversion of bonds on December 31,2021? (For present value factors, do not round off) P 1,000,000 P 4,369,606.52 P 4,639,606.52 P 5,248,685.20On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at 110. The principal of the bonds is payable on December 31, 2024. Interest on the bonds is payable annually starting December 31,2020. Each P 5,000 bond is convertible into 20 ordinary shares of P 50 par. Without the bond conversion privilege, the bonds would have sold to yield 10%.On December 31,2021 after paying periodic interests, half of the bonds issued were converted to ordinary shares. On October 1,2023, half of the remaining bonds were retired at 102 plus accrued interest. Without the bond conversion privilege, the bonds are quoted at 101.How much is the gain or loss on retirement of bonds on October 1,2023?Curri, Incorporated sold its 5% bonds with a maturity value of $1,000,000 on August 1, 2021. Investors in the market purchased the bonds for $1,044,915 a price which would earn them a 4% yield on their investment. The difference between the stated and market rates was attributed to revised inflation expectations. The bonds mature on August 1, 2026 and pay interest semi-annually on August 1 and February 1. The bonds are callable at any time after August 1, 2023. Required: C) Assume that Curri was unable to make the required interest payment on February 1, 2023. (NOTE: This assumption should not change your responses to items A) and B) above). The bondholders agreed to accept $800,000 of 2% bonds from Curri in full satisfaction of all claims relating to the 5% bonds. The 2% bonds mature on August 1, 2027 and require interest to be paid quarterly. On February 2, 2023 the 2% bonds were trading in the bond market at 77. How should Curri report the February 1, 2023 swap of the 2% bonds for…
- On January 1,2020, ABC Company issued P 10,000,000 convertible bonds with a stated rate of 12% at 110. The principal of the bonds is payable on December 31, 2024. Interest on the bonds is payable annually starting December 31,2020. Each P 5,000 bond is convertible into 20 ordinary shares of P 50 par. Without the bond conversion privilege, the bonds would have sold to yield 10%.On December 31,2021 after paying periodic interests, half of the bonds issued were converted to ordinary shares. On October 1,2023, half of the remaining bonds were retired at 102 plus accrued interest. Without the bond conversion privilege, the bonds are quoted at 101.How much was credited to the share premium- ordinary account at the time of conversion of bonds on December 31,2021?On January 1, 2024, ABC Corp. issued 54 million of 10 year bonds at an 8%stated interest rate to be paid annually. ABC Corp. issued the bonds for S3, 501, 514 since the market rate of interest was 10% . What is the carryingvalue of the bond that ABC Corp. would report on its December 31, 2024balance sheet? (round to the nearest dollar) S3,531,665S3, 500,000S3,526,438S3,564,832S4,000,000On March 1, 2024, Baddour, Incorporated, issued 10% bonds, dated January 1, with a face amount of $160 million. The bonds were priced at $142.00 million (plus accrued interest) to yield 12%. The price if issued on January 1 would have been $139.25 million. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30. Required: 1. to 3. What would be the amount(s) related to the bonds Baddour would report in its balance sheet, income statement and statement of cash flows for the year ended September 30, 2024?
