On August31,2021, DASHER Company issue dat 104 plus accrued interest, three thousand 10% bonds with a face amount of ₱1,000 per bond.The bonds are dated April 1, 2021, mature on March 31, 2026, and pay interest every April 1 and October 1 . The bonds were issued through an under writer to whom the entity paid bond issue cost of ₱120,000.   Requirements: Prepare all necessary journal entries for the calendar year Compute for the following: How much is the initial valuation or carrying value of the bonds upon recognition? How much cash was received upon issuance? How much is the interest paid for they earended December 31, 2021?

Q: Bramble Corp. issued 3,400 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: Given:

Q: Problem 1: On January 1, 2011, an entity issues bonds with face amount of P5,000,00 for P5,733,129.…

A: Here asked for multi question we will solve for first question as per guidelines.  If you need…

Q: On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bonds with…

A: Bonds payable is a liability account, where the issuer needs to pay to the bond holder. Accrued…

Q: QUESTION 7 On January 1, 2019, Fast Track Sdn Bhd issued 8% bonds worth RM300,000. This bond will…

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: Blossom Company issues $3.2 million, 10-year, 9% bonds at 96, with interest payable on December 31.…

A: 1. Date Account Titles and Explanation Debit Credit Jan. 1 Cash ($3,200,000*96/100)…

Q: QUESTION 6 Merkell Company issued RM800,000 of 9%, 10-year bonds on January 1, 2019, at face value.…

A:

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: 9. Rodriquez Corporation issued a $300,000, 9%, 8-year bond payable on January 1, 2024. Journalize…

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

Q: Check my work Green Mountain Power Company obtained authorization to issue 20-year bonds with a face…

A: Please find the answer to the above question below:

Q: On April 1, 2020 , Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated…

A: Bonds are a form of debt taken by the company. Company has to make regular interest payments on…

Q: On July 1 2019, Barokah Company issued RM45,000, notes payable to fund its business with 4.5%…

A: As the questions asked have more than 1 question, the first question is answered. If you want the…

Q: Shown are data from recent reports of two toy makers. Dollar amounts are stated in thousands. Toyco…

A: Since you have posted two different questions, we will do the first one for you. Please post the…

Q: On January 1, 2021, Universe of Fun issues $900,000, 8% bonds that mature in 10 years. The market…

A: Bonds: This is just like debt for the issue of investors by the company. Bond is dependent on the…

Q: Part2: On March 1, 2020, Quinto Mining Inc. issued a $690,000, 8%, three-year bond. Interest is…

A: Bonds are the securities which are issued to generate funds by the company and these are the…

Q: Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2022, at face value. Interest is…

A: 20- Year 6% Bond =. $380,000  Interest Rate =6%  Interest Payable on January 1.

Q: On January 1, 2024, Reyes Recreational Products issued $180,000, 9%, four-year bonds. Interest is…

A: An amortization schedule for bonds issued at a discount is prepared to add back the discount to the…

Q: Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2019, that pay interest…

A: The question is based on the concept of the issue of securities. As per Bartleby guidelines we are…

Q: Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay interest…

A: To assist you in completing the table and journal entries, we need to follow these steps: 1. Journal…

Q: Req 1 Req 2A to 20 Req 3 Semiannual Period-End Req 4 Prepare the first two years of a straight-line…

A: Lets understand the basics. Amortizaion of premium or discount on issue of bonds done using either…

Q: b) The following section is taken from Nolana Sdn Bhd's statement of financial position at December…

A: Amount paid at the time of redemption = RM1,600,000 × RM104RM100= RM1,664,000

Q: On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bondswith…

A: An entity's interest expense is the cost of borrowing money. It denotes the interest payable on all…

Q: April 10, 2021 – Alfa Issued 170,000 bonds with a nominal value of € 1.5. The issuance had a…

A: Bonds: Bonds are the financial securities issued by a company over and above or less than its…

Q: help

A: Bonds are described as those securities which represent the amount of debt lent to the borrower.…

Q: On January 1, 2025, Paxton Planning Services issued $56,000 of 2% bonds that mature in five years.…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: a. On January 1, Cardano Berhad issued RM1,200,000, 6%, 5-year bonds at face value. Interest is…

A: Since you have posted two different question, we will do the first one for you. To get the other…

Q: Determining the Proceeds from Bond Issues Madison Corporation is authorized to issue $630,000 of…

A: A bond is a debt instrument issued by entities to raise capital from investors. The person issuing…

Q: prepare the journal entry to record the sale of these bonds on January 1, 2022. Crane Company issues…

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

Q: On January 1, 2022, Davison Corp. issues $500,000 of 9% 15-year bonds that pay interest year. Bonds…

A: Issue price of bonds would be present value of interest annuity & maturity amount at market rate…

Q: A company issues $20,000,000, 8%, 20-year bonds to yield (mkt) 6% on January 1, 2020. Interest is…

A: The bonds payable are reported as long-term liabilities. The bonds are issued at premium when market…

Q: On April 1, 20x1, an entity issues bonds with face amount of P5,000,000 for P5,415,183, including…

A: A per PFRS 9 Financial instruments an issue of bond is a financial liability which can be accounted…

Q: In order to fulfill its financing activities, Astro Co. issued Rp 505.000,000, 12%, 10-year bonds…

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

Q: Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2019, that pay interest…

A: Face value of bond = $ 1,900,000                             Issue price of bond = $ 1,641,812…

Q: X Corporation borrowed money by issuing $1,000,000 of bonds at 102 on January 1, 2022. The bonds pay…

A: DateAccountDebitCreditJanuary 1, 2022Cash ($1,000,000 * 102%)$ 1,020,000            Bonds Payable $…

Q: cost of P200,000. Requirements: a. What is the net cash received from the bond issuance? b. Provide…

A: Issuance of Bond The act of a firm or government acquiring the funds of investors by selling debt is…

Q: 57 On January 1, 2024, Reyes Recreational Products issued $100,000, 11%, four-year bonds. Interest…

A: A bond is a security of our debts we have to issue a bond when we are lending some money for a…

Q: Allen Media Group issues $2,000,000 of 8%, 10 year bonds dated January 1, 2022, that pay semiannual…

A: Lets understand the basics.Premium or discount on issue of bond can be amortized using,(1) Effective…

Q: Omar Company issued a $140,000, 11%, 10-year bond payable at 97 on January 1, 2024 Interest is paid…

A: If the issued Price is less than the face value, it will be treated as that Bonds are issued at…

Q: On March 1, 2021, Patriot Company issued at 97, including accrued interest, 2,550 of its 10%, ₱1,000…

A: Formula: Cash received on issue of bonds = Face value of bond x Issue rate of bonds

Q: E-Tech Initiatives Limited plans to issue $650,000, 10-year, 7.00 percent bonds. Interest is payable…

A: Journal entry to record Issuance of bonds payable:

Q: On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is…

A: As per accrual principle of accounting, all the expenses need to be accounted for within the…

Q: Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2019, that pay interest…

A: Solution (4) : Date Particulars Debit Credit 30 June , 2019 Interest expense 19,598.50…

Q: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10% bonds…

A: What is meant by Journal entries? It is the first step to record the financial transactions in the…