Related data of John-j Company:                                     Face amount                                                             P2,550,000       Nominal rate                                                             12%      Effective rate                                                            14%      Date of issue                                                             January 1, 2021             Annual payment every December 31                  P850,000 (Principal and interest)         Interest is payable annually                                December 31   The entity used 3 decimal places for the PVF.          Bonds mature on                                                 January 1, 2023   Required: What is the present value of the bonds payable on January 1, 2021?

Q: Temptation Vacations issues $58 million in bonds on January 1, 2021, that pay interest semiannually…

A: Original issue price of the bonds = Carrying Value of the bonds on January 1, 2021

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

A: Given:

Q: Temptation Vacations issues $58 million in bonds on January 1, 2021, that pay interest semiannually…

A: The stated annual interest rate, often known as SAR, is the return on an investment (ROI) presented…

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: Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2021. LPC's accountant has projected…

A: Given Information: Cash Interest: $7,000 Outstanding balance at the beginning of the year: $207,020…

Q: Determining the present value of bonds payable and journalizing using the effective-interest…

A: Present value is the current value of a future amount that is to be received or paid out.Future…

Q: Green Co. issued $400,000 of 12%, 10 year bonds on January 1 at 98. Interest is payable semiannually…

A: The bonds-are issued at discount of Rs. 2 per bond. Therefore, total cash received on issue date =…

Q: PA6. 13.3 Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term…

A: Bonds are the highly secured debt securities which are redeemed after a certain span of time.

Q: Prepare a bond premium amortization schedule for the first four interest periods. Annual Interest…

A: Lets understand the basics.Discount or premium amortization can be done using,(1) Effective interest…

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: Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal…

A: Bonds worth $1000 are issued at 98% of face value. This means 2% is a discount. Concord corporation…

Q: In the statement of financial position of Leblanc Company as of December 31, 2020, the following…

A: Redemption of the bonds = Face value of Bonds Payable x Redemption value / 100 = P1,000,000 x 98/100…

Q: On January 1, 2025, Blue Company sold 11% bonds having Prepare a schedule of interest expense and…

A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds.

Q: Answer all questions. Ch.9-2

A: Calculation of interest= Bonds amount*Rate*6/12…

Q: Recording Bond Entries and Preparing an Amortization Schedule—Effective Interest Method, Premium…

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

Q: Tamarisk Ltd issued a $1,094,000, 10-year bond dated January 1, 2023. The bond was sold to yield 12%…

A: A firm or group may issue bonds payable as a form of long-term debt to raise capital from investors.…

Q: Recording Bond Entries and Preparing an Amortization Schedule—Effective Interest Method, Discount,…

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

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: One June 30,2020, Pronghorn Company issued $4,470,000 face value of 14%, 20 year bonds at $5142560,…

A: The bonds are the financial instruments that are issued to raise money from the market. The bonds…

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: 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: emptation Vacations issues $58 million in bonds on January 1, 2021, that pay interest semiannually…

A: Face value of bond is the amount at which the interest is paid over the life of bond.

Q: On January 1, 2021, Ayayai Ltd. paid $238,831.09 for 12% bonds of Variation Ltd. with a maturity…

A: As per the given information: Amount paid for 12% bonds- $ 238,831.09 Maturity value - $ 222,000…

Q: Sunland Corporation issues 5600, 10-year, 10%, $1000 bonds dated January 1, 2027, at 101. The…

A: The bonds are issued to raise the money from the market or investors. The bonds are issued at the…

Q: Please help find issue price of bonds Requirements- Using PV function in excel calculate issue price…

A: calculation of issue price face value of bond -620,000     discount rate 10%…

Q: On January 1, 2020, Marigold Corp. issued $5100000, 10-year, 4% bonds at 102. Interest is payable…

A: When a bond is issued at premium, the amount received excess of fair value should be recorded under…

Q: On January 1, 2020, Sheffield Corp. issued $4500000, 10-year, 4% bonds at 102. Interest is payable…

A: The journal entries are prepared to record the transactions on a regular basis. The bonds are issued…

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

A: Discount on Bond = $460,000-$418,008 = $41992 Accrual interest     = $460,000*8% = $36800 Bond…

Q: Waterway Industries issues 2300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal…

A: Bonds are securities issued by the entity for the purpose of raising funds. It is an obligation for…

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: On July 1, 2024, Bramble Satellites Corporation issued $3,200,000 of 10-year, 6% bonds to yield a…

A: Face value of bonds issued = $3,200,000Coupon rate = 6%Effective rate = 5%Period = 10 yearsInterest…

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…