On January 1, 2021, STUDY HARDER Company purchased 9% bonds with face amount of P6,0 The bonds mature on January 1, 2026 and were purchased for P5,550,000 to yield 11%. The classified the bonds as held for trading and interest is payable annually every December 31. Th provided the following information about fair value of the bonds and effective rate: Fair Value Effective Rate December 31, 2021 December 31, 2022 5,450,000 6.150,000 12% 8% On December 31, 2022, the entity changed the business model for this investment to collect con cash flows composed of principal and interest. On January 1, 2023, the fair value of the bonds At th olegsifieotion dete bow rSuch ie the amium dieooun2

Q: On /12020, Be Conpany insud 5yea, % bond with a par value of $1.000 000 The conpany ced 0000ch…

A: Discount on Bonds = Face value of the bonds - Issue value of the bonds = $1,000,000 - $900,000 =…

Q: On January 1, 2019, Shrimp Company issued its 9% P9,000,000 face value bonds, which matures on…

A:

Q: Pogden Company issued a $400,000, 5 %, five-year bond payable at face value on January 1, 2024.…

A: (1) Debit what comes in, Credit what goes out.(2) Debit all expenses and losses, Credit all incomes…

Q: The bonds are issued at a price of $1,713,594. Required: 1. Prepare the January 1 journal entry to…

A: Journal entries refer to the concept of noting all the daily transactions of a company in its books…

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: a. Jason Allen Co. sold $2,080,000 of 12%, 10-year bonds at 102 on January 1, 2025. The bonds were…

A: Bonds refer to the debt instruments issued either by the government or corporations. The bonds are…

Q: On October 1, 2020 Sunland Company issued 4%, 10-year bonds with a face value of $6110000 at 104.…

A: Interest accrued for 3 months ( From October 1st to December 31)  = Face value × interest rate ×…

Q: The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January…

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

Q: On May 1, 2018 Lila Co. sells $900,000 ,10 years, 12% bonds dated January 1, 2018 at 112.0482 plus…

A: Bonds are the debt instruments issued by a company to the general public to raise money for the…

Q: Devon Harris Company sells 10% bonds having a maturity value of 2,000,000 for 1,855,816. The bonds…

A: Bonds payable is a form of long-term debt that signifies a company's responsibility to return funds…

Q: Reporting Bonds on the Balance Sheet Yale Corporation issued to Zap Corporation $300,000, 8% (cash…

A: Introduction: A balance sheet is a financial statement that includes a company's assets,…

Q: On January 1, 2018, West Company purchased $600,000 of 6%, 5-year bonds, as an available-for-sale…

A: Following is the given information:

Q: Ellis Company issues 7.0%, five-year bonds dated January 1, 2021, with a $450,000 par value. The…

A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Q: Part A On January 1, 2022, East Pacific Enterprises issued 9%, 10-year bonds with a face amount of…

A: The objective of this question is to prepare an amortization table for the first three payment…

Q: 15 Devito & Co. issued bonds on January 1, 2018. At January 1, 2023 the balances are as follows: A…

A: A) To record the interest payment, simply debit interest payable then credit cash for $1,200,000. B)…

Q: On January 1, 2019, stated rate on the bonds is 7% and interest is payable annually each December…

A: Carrying value at end of year = Carrying value at beginning of year + discount amortization discount…

Q: owe subject-Accounting On May 1, 2024, crane corp. issued 955,000 of 5-year, 7% bonds at $916,270.…

A: Each periodic payment on bonds is listed in a table called an amortization schedule over the course…

Q: On August 1, 2021, Excel Company purchased at par P5million bonds with stated interest rate of 12%…

A: Lets understand the basics. We all know that bond can be purchased at the issue time or at mid of…

Q: Question six: On January 1, 2022, Kirmer Corp. purchased €450, 000 of 6% bonds interest payable on…

A: Bonds/Notes are the instruments/ securities issued by the companies to raise funds for the company…

Q: (a) Pharoah Co. sold $2,080,000 of 12%, 10-year bonds at 102 on January 1, 2020. The bonds were…

A: An interest expense is the cost incurred by an entity for borrowed funds. Interest expense is a…

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

A:

Q: on january 1,2018 naperville corporation issued 2300,000 16% 5 year bonds wirh interest payable on…

A: Interest payment  = $2,300,000*16%*6/12 Interest payment  = $184,000

Q: (A *D) (H - 1) (K* E) Jan 1 2019 June 30, 2019 December 31, 2019 June 30, 2020 December 31, 2020…

A: Valuation of Bond  Amortisation of Bond  Journal Entries related to the Bond

Q: pany issues four-year bonds with a $105,000 par value on January 1, 2021, at a price of $100,950.…

A: Bonds are debt instruments which are issued to raise money from investors. Bonds may be issued at…

Q: P2 Dobbs Company issues 5%, two-year bonds, on December 31, 2021, with a par value of $200,000 and…

A: Step 1:    Step 2: Step 3: Step 4:

Q: Ques 2:( On April 1, 2021, ABC Company issued a 5-year, 10%, OMR 100,893 face value bond at 102 (2%…

A:

Q: Were the bonds purchased at a discount or premium? AnswerDiscountPremium b. Prepare a bond…

A: a) Year PVF @4.5% Interest ($) The present value of interest ($) 2020 0.9569  800 765.5502…

Q: On January 1, 2024, Solo Incorporated issued 1,600 of its 8%, $1,000 bonds at 98.5. Interest is…

A: When bonds are issued at a discount it means they are sold at a price below their face value. The…

Q: a. Matthew Young Co. sold $1,890,000 of 12%, 10-year bonds at 105 on January 1, 2025. The bonds were…

A: Since you have posted multiple questions, we can only provide the solution to the first question…

Q: Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,…

A: 1. Date General Journal Debit Credit July 1, 2018 Cash $480000     Discount on bonds payable…

Q: On November 1, 2022, Dayrit Corporation purchased P800,000 face value, 10-year, 8% term bonds dated…

A: The bonds are issued by a company in order to fulfill its financial needs. These are classified as…

Q: semuay (on June 30 and December 31) Crosby Corporation's year end is June 30. Crosby prepared an…

A: Price of bond is the present value of coupon payments plus present value of the par value of the…

Q: issues December 31. of 7%, 15-year bonds dated January 1, 2021, that pay interest semiannually on…

A: The bonds can be issued at discounts and premiums as well. The premium or discount on bonds can be…

Q: On January 1, 2019, Bee Corp. issued 8-year bonds with a principal value of $3,400,000 and a stated…

A: When the stated rate of interest of 8% is less than the market rate of interest of 10%, the bonds…

Q: On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-year…

A: Bonds are the securities which are issued by the entity for the purpose of raising funds from the…

Q: Bonds Issued at a Premium (Effective Interest) Cookie Dough Corporation issued $1,500,000 in 7%,…

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

Q: PB5. LO 13.3 Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year…

A:

Q: 1. Camden Co. issued $200,000 of 10%, 2 year bonds on January 1, 2018. The bonds pay interest on…

A: Solution A: Computation of bond price Table values are based on: n= 4     i= 6.00%…

Q: On June 30th dogwood limited issues 8%, 20 year bonds payable with a face value of $100,000. The…

A: Here,it is assumed that face value per bond is $ 100. Therefore number of bonds issue=$100,000/$100…

Q: The December 31, 2021 balance sheet of the World Wide Distribution Company included the following…

A: Bonds are financial instruments that serve as a formal representation of the contract between an…

Q: Date of purchase: January 1, 2021 Purchase price: P4,200,000 Principal amount: P4,000,000 Cash…

A: Financial Asset is asset that generates regular cash flow and held as investment or liquid asset…

Q: Sheridan Corporation issued $460,000, 9%, 20-year bonds on January 1, 2020, for $420,837. This price…

A: Journal Entry: It is a systematic record of a financial transaction recorded in chronological order.

Q: Kingbird corporation issued  $460,000,8%, 20 year bonds on January  1,2022 for $418,008 this price…

A: Journal entry refers to the classifying and recording of daily transactions initially into books of…

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: E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable…

A: Number of bonds=Total valuePar value=$500,000$100=5,000

Q: Face Value of Bonds P6,540,000 Issue Price: 112 Issuance Date: January 1, 2019 Stated Rate: 8%…

A: Bonds represents the loan for the company on which the company has to pay fixed percentage of…

Q: PECAN Company issued ₱10,000,000 face value bonds at 95 plus accrued interest on March 1, 2021.…

A: Interest accrued on bonds = Face value of bonds x rate of interest x no. of months/12 = ₱10,000,000…

Q: Crane Company issues $5040000, 7%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds…

A: Proceeds from bond is the Present Value of the Bond. Present value of Bond is the present value of…