orporation acquired an investment at amortized cost in Screen Company's 10-yr, 12% bonds, with face value of P5.000.000 for P5,386,300. Interest is payable semi annually on January 1 and July 1. The bonds mature on July 1, 2024. Bonds effectiv

Q: July 1, 2019, Jelli&Tin Company purchased P500,00 face value Red Cup Company 8% bonds for P455,000…

A: SOLUTION LOSS ON SALE ON SECURITY IN 2020 = ACCRUED INTEREST UPTO FEB 1 2020 Is 1.5 MONTHS. =…

Q: On January 1, 2021, Kaye Ltd. purchased $250,000 of Danford Co.'s 4%, 8-year bonds.  The market rate…

A: Under Effective Interest Rate Method , Interest Income/Expense will be recognized at Market Rate.

Q: On July 1, 2021 MIA Company purchased P500,000 face value AIM Company 8% bonds for P455,000 plus…

A: GIVEN   On July 1, 2021 MIA Company purchased P500,000   face value AIM Company 8% bonds for…

Q: On July 1, 2018, Zia Inc. acquired investments in bonds of Ding Co.'s 10-year 12% bonds, with face…

A: The gain on the disposal of bonds is the difference between the carrying amount of bonds and the…

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

A: Given Information:  Acquisition value = P4,689,510 Effective interest rate = 12% Coupon rate = 10%…

Q: Assume that at December 31, 2019 the carying amount of the bonds is 106.000 and s fair value is…

A: The difference in the carrying value and the fair value is the holding gain or loss which is to be…

Q: How much are the interest income and carrying amount of the b

A: Interest income The amount paid to an entity for lending its money or allowing another organisation…

Q: Sheridan Company purchased, on January 1, 2025, as an available-for-sale security, $71,000 of the…

A: Available-for-sale security (AFS)An available-for-sale security (AFS) is a debt or equity security…

Q: Enterprise Group issued $100,000 of 3-year, 6% bonds on December 31, 2025, for $106,000. Enterprise…

A: On May 1st, 10% of bonds retired. Book vale of theses 10% bonds = $10,533Par value of bonds (10% of…

Q: 1.1 Determine the purchase price of the investment in bonds. 1.2 Prepare the journal entry to record…

A: Half years Cash flow (A) Present Value @ 6% (B) Present Value of Cash flow ( A * B ) 1 to 10…

Q: Kingbird Corporation purchased on January 1, 2020, as a held-to-maturity investment, $50,000 of the…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Garfield Company purchased, on January 1, 2020, as a held-to-maturity investment, $80,000 of the 9%,…

A: When an investor purchases a bond or other fixed-income security with the intention of holding it…

Q: carrying amount of the bonds on December 31, 2023?

A: Accrued Interest -:In computation, Accrued Interest relates to the proportion of interest that has…

Q: On June 1, 2022, GHI Co. acquired P3,000,000 bonds of Z Company at 102 plus transaction costs of…

A: Bonds are a type of long-term debt that is issued by the company to capital. The bonds come with a…

Q: X Ltd operates a standard marginal costing system. The following budgeted and standard cost…

A: We have the following information: Budgeted Production & Sales (10,000 units)Selling Price:…

Q: On January 1, 2017, Sarasota Corporation purchased 331 of the $1,000 face value, 9%, 10-year bonds…

A: The problem is asking us to calculate the purchase price of the bonds bought by Sarasota…

Q: On July 1, 2020, COC Company purchased P500,000 face value of ML Company's 8% bonds for P455,000…

A: A bond is an investment security which provides a fixed amount of return on its investment. Since it…

Q: On July 1, 2019, SIMP Company purchased P500,00 face value DRIP Company 8% bonds for P455,000 plus…

A: GIVEN   On July 1, 2019, SIMP Company purchased P500,00 face value DRIP Company 8% bonds for…

Q: е Cor

A: Jul 2002 to Dec 2002  -  6 months…

Q: On November 1, 2021, Sheridan Company purchased Pina, Inc., 10-year, 9%, bonds with a face value of…

A: Discount on bonds = face value - purchase value = 850000 - 770000 = $80,000

Q: On January 1, 2019, Weaver Company purchased as held-to-maturity debt securities $500,000 face value…

A: The term "debt securities" can refer to a range of financial products that contain a commitment from…

Q: On January 1, 2020, Kevin Cosme acquired a P2,000,000, 10% bond for P2,159,708. The ongoing interest…

A:

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

A:

Q: heridan Corporation purchased on January 1, 2020, as a held-to-maturity investment, $52,000 of the…

A: Introduction:Journals:Recording of a business transactions in a chronological order.First step in…

Q: rchase ay interest of 10% every June 30 and December 31 ue of the bonds at year-end are presented…

A: Transaction costs or the bond issue costs are the expenses that are incurred by the company for…

Q: On July 1, 2021 MIA Company purchased P500,000 face value AIM Company 8% bonds for P455,000 plus…

A: Valu of bond are as follows

Q: An investor company purchased $790,000 of 5% bonds from the investee company on January 1, 2020,…

A: An available for sale securities is a security that do not fall under either the trading securities…

Q: What is the interest income for the year 2021?

A: The amount of interest against the acquired securities considered to be earned on the basis of time…

Q: On April 1, 2020, Q2 Company purchased a P1,000,000 face value 8% bond for P910,000 including…

A: Gain on Sale of Investment = Sale Proceeds - Carrying Amount

Q: On January 1, 2020, Sage Company purchased $270,000, 6% bonds of Aguirre Co. for $248,099. The bonds…

A: The procedure of recording business transactions for the first time in the books of accounts is…

Q: On January 1, 2020, Nash Company purchased $330,000, 8% bonds of Aguirre Co. for $304,517. The bonds…

A: Bond's purchased as available-for-sale are to be recorded at their fair value in books.

Q: On January 1, 2025, Copa Company purchased $300,000, 6% bonds of Cabana Co. for $313,128. The bonds…

A: Bonds are issued by organizations to raise long-term funds. Bonds can be issued at par, at a…

Q: 7)  ABC Company purchased $1,200,000 of 7%, 5-year bonds from XYZ, Inc. on January 1, 2021, with…

A: Bond is that debt instrument which is used by the organisation to finance its long term fund needs,…

Q: Sandhill Company purchased, on January 1, 2025, as an available-for-sale security, $440,000 of the…

A: To prepare an amortization table for the Oak Corporation bonds using the effective-interest method,…

Q: On January 1, 2020, Kingbird Corporation purchased 325 of the $1,000 face value, 11%, 10-year bonds…

A: Issue price of the bonds = Present value of principal + Present value of interest payments where,…

Q: erest Receivable Bond Carrying Or Interest Discount Amount of Cash Received Revenue Amortization…

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

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 1, 2002, Durable Company purchased Rose Corporation 10-year, 12% bonds with face value of…

A: Given information, Face Value = P300,000 Purchase Price = P324,000 Interest rate on bonds = 12%

Q: 9. On July 1,2020, Lean Compuny Band Company for P4,615000 to yiekd 10% per year to be held as…

A:

Q: On January 1, 2017, Sarasota Corporation purchased 331 of the $1,000 face value, 9%, 10-year bonds…

A: The first step is to calculate the annual interest payment that the bond will provide. This is done…

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: Dahlia Company purchased a P2,000,000 12% face value bonds, 10 years, on April 1, 2019 for…

A: Amortization on bonds is the the matching the carrying value of bonds to the maturity of the bonds.…