On July 1, 2014, Oladipo Corporation issued 11% bonds in the face amount of P2,000,000 that mature on June 30, 2018. The bonds were issued to yield 10% and interest is payable every January 1 and July 1. Oladipo uses the effective interest method of amortizing bond premium and discount. What is the carrying amount of the bonds as of December 31, 2014? A. 2,043,640 B. 2,051,086 C. 2,057,863 D. 2,064,930

Q: On June 30, 2020, Ayayai Company issued $3,810,000 face value of 16%, 20-year bonds at $4,956,520, a…

A: Introduction: A journal entry is a recording of a business contract in the accounting system of a…

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Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…

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A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

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

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A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

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A: As you have posted multiple independent questions, we are answering the first question. Kindly…

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A:

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A: Please see Step 2 for required information.

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

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Q: Want Answer

A: Now, let's take a step-by-step look at each section of these journal entries for bond transactions,…

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A: Interest method to amortize bond discount is a process in which the discount on issue of bond is…