If on Nov. 30, 2021, ABC sold the investment, what is the interest income for that year?

Q: How much will be the gain (loss) on sale assuming all the bonds were sold on June 30,2020 at 99 plus…

A: Calculating carrying value of the bond on June 30, 2020. Year Beginning carrying value of bond…

Q: On January 1, 2020, Hilichurl Company purchased 4,000 of P1,000 face value, 10% bonds of Ivory…

A: The effective interest rate uses the carrying amount of the bond to calculate interest income.…

Q: On January 1, 2019, Peter Corporation purchased a debt instrument at its face value of P3,000,000.…

A: Reclassification of Debt Instrument As a result debt securities may be reclassified from the…

Q: On January 1, 2020, ABC Co. acquired P1,000,000 face amount, 10% bonds for P951,963. The principal…

A: Value on Decemeber 31, 2021 = (P103 x 10000) = P1030000 Value on the date of purchase  = P951963

Q: Assuming the investment is appropriately recognized as financial assets at amortized cost: How much…

A: A bond is a kind of debt financial instrument that is being issued by corporations and the…

Q: On December 31, 2020, Alberta Inc. purchased $500,000, 10% bonds issued by Banff Ltd. The bonds have…

A: Bond should be valued at at current market price. If market price is changes after bond issued then…

Q: ebt instruments mature on January 1, 2026 and pay interest annually beginning December 31, 2021. The…

A: Amortization cost  Amortized cost is the total amount of a fixed asset's reported cost that has been…

Q: For the next (3) three questions: On June 1, 2022, GHI Co. acquired P3,000,000 bonds of Z Company at…

A:

Q: On January 1, 2018, LAB Co. acquired P4,000,000 of 12% face value bonds at P3,767,000 to be held…

A: If a company buys a financial instrument for $150,000 that has a face amount of $200,000 and which…

Q: Identify: Investment in Bonds as of acquisition Interest income for the year Unrealized Holding…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: interest inco

A:

Q: An entity purchased 4 year debt instruments with a face value of P15,000,000 on January 1, 2019 to…

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

Q: On January 1, 2024, an investor paid $299,000 for bonds with a face amount of $360,000. The contract…

A: Bonds are investment securities where an investor lends money to a company or a government for a set…

Q: On December 31, 2020, Whitfield Corp. issued $ 400,000 10% bonds, due on December 31, 2025. Interest…

A: Bonds Payable: Bonds Payable are the financial instruments that are issued with a promise or…

Q: . On January 1, 2020, HIBISCUS Company purchased 4,000 of ₱1,000 face value, 10% bonds of IXORA…

A: Given Data: Face value of bonds = 4,000 bonds at ₱ 1,000 Par value = ₱ 4,000,000 Carrying value of…

Q: December 31, 2020, Alberta Inc. purchased $500,000, 10% bonds issued by Banff Ltd. The bonds have a…

A: Bold should be valued at at current market price. If market price is changes after bond issued then…

Q: On June 30, 2019, ABC acquired a non-interest bearing, 3-year, P6,000,000 face value serial bonds…

A: Note means an instrument acknowledging the debt due from one company to another company with…

Q: (E) On Jan. 1, 2021, ABC acquired a 10%, P5,000,000, bonds that matures on Jan. 1, 2025. The…

A: Interest income refers to the amount charged by investors in consideration of contributing capital…

Q: On July 01, 2019, SALUDO RAW SA'YO SI MAGELLAN SABI NI LOLA CO. received P1,032,880 for P1,000,000…

A: Market rate of interest = 10%/2 Market rate of interest = 5%

Q: On April 1, 2020 Everjoy Company purchased $80,000 of Miller Corporation's 6% bonds at a purchase…

A: The carrying value of bonds payable is calculated after making adjustment for amortized discount or…

Q: PUP CAF Corporation acquired a 4-year, P3,000,000 par value bonds when the prevailing rate of…

A: Unrealized gain or loss on investment: Investment gains that are not yet realized are gains that…

Q: A company buys a debt investment for $316, 000. At the end of 2023, the amortized cost of the…

A: The given statement is false.In this scenario, the company must report the investment at its fair…

Q: On January 1, 2021, PHILIPPINE COMPANY acquired 5-year, 15%, $8,000,000 H-bonds. The investments…

A: Given data: Principal amount = $8,000,000 Annual Coupon = 15%  Market rate = 14%

Q: On April 30,2020, ABC Corp. purchased bonds with a face value of P1,400,000 and interest rate of 9%…

A: Date Particulars      Amount (P)  Amount (P) 30/04/2020 Investment (FVPL) Dr…