SEED Company

Q: Grocery Corporation received $300,328 for 11 percent bonds issued on January 1, 2021, at a mar­ket…

A: Bonds are a type of borrowing in which the issuer accepts cash from bondholders in exchange for a…

Q: On January 1, 2019, LEMON Company purchased bonds with face amount of ₱6,000,000 for ₱6,309,000. The…

A: Bonds:- A bond is a fixed income instrument that shows the loan amount paid by the investor to…

Q: On April 30, Kate Company issued 7,000 of 15% ₱1,000 bonds at 95. The bonds have a five-year term…

A: Bond Issued = 7,000 Bond issue cost = ₱125,000 Face Value = ₱1,000 Coupon rate = 15% Time period = 5…

Q: The entity purchased 6,000,000 12% bonds on January 1,2021. The interest is payable annually. The…

A: The carrying value of a bond is computed by adding an unamortized premium or subtracting the…

Q: In the google form, provide the interest income to be recorded on that same day.

A: On 01.01.2021, ABC purchased bonds and total face value = P6000000 Interest rate = 8% payable every…

Q: On June 1, 2021, VIXEN Company received ₱1,077,200 plus accrued interest for 12% bonds with a face…

A: SOLUTION- BOND  IS A FIXED OBLIGATION TO PAY  THAT IS ISSUED BY A CORPORATION OR GOVERNMENT ENTITY…

Q: On June 1, 2021, NEX Company received ₱1,077,200 plus accrued interest for 12% bonds with face…

A: "Since you have asked multiple question we will solve the first three sub part question for you.  If…

Q: On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $165…

A: 1. Compute amount of bonds report in its balance sheet as shown below:     Working note:   Compute…

Q: On January 1, 2021, Nicks Company reported 10% bonds payable with carrying amount of P5,700,000. The…

A: The financial instruments can be recorded at fair or amortized value depending upon the accounting…

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: On June 1, 2021, VIXEN Company received ₱1,077,200 plus accrued interest for 12% bonds with face…

A: Bonds Payable It is the amount owed to bond holders by the issuer and is a liability account

Q: Unleaded Inc. issued a ₱300,000 face value bonds. It carries 10% annual interest rate to be repaid…

A: Formulas: Premium on Bonds Payable = Issue value of the bonds - face value of the bonds Interest…

Q: On May 31, 2020, VIOLET Company issued 6% bonds with face amount of ₱4,000,000 for net proceeds of…

A: Solution  carrying amount of the bonds payable on December 31, 2020 = Fair value of bond on December…

Q: On April 30, CHIA-SEED Company issued 7,000 of 15% P1,000 bonds at 95. The bonds have a five- year…

A: Y/2 = (I + (F - NI)/n)/((F + P)/2)

Q: Required: 1-a. Determine the price of the bonds at January 1, 2024. 1-b to 4. Prepare the necessary…

A: Issue price$650,000Interest rate10%Market Interest rate12%Interest per period…

Q: On January 1, 2020, Trisha Company received P1,077,200 for 12% bonds with face amount of P1,000,000.…

A: Bond is borrowing security issued by the company to raise funds from the market by making an…

Q: On January 1, 2024, NFB Visual Aids issued $900,000 of its 20-year, 6% bonds. The bonds were priced…

A: Journalizing is one of the most important and basic steps in the accounting cycle. Journalizing is…

Q: On May 31, 2020, BLUE Company issued 6% bonds with face amount of ₱4,000,000 for net proceeds of…

A: INTEREST EXPENSE IS THE COST INCURRED BY AN ENTITY FOR THE BORROWED FUNDS .

Q: Unrealized holding gain/(loss) in OCI for year 2014 2. Interest expense for the year ended December…

A: Unrealized holding gain/(loss) is the term used to describe a change in an investment's value that…

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: ANSWER IN GOOD ACCOUNTING FORM. THANK YOU :) On April 30, CHIA-SEED Company issued 7,000 of 15%…

A: A bond can be defined as a fixed income instrument. It represents a loan made by an investor to a…

Q: On May 31, 2020, VIOLET Company issued 6% bonds with face amount of ₱4,000,000 for net proceeds of…

A: A bond is an instrument that represents the loan that is made by the investor to the company and…

Q: On January 1, $858,000, 5-year, 10% bonds, were issued for $832,260. Interest is paid semiannually…

A: When the issue price is less than the face value of bonds the bonds are said to be issued on…

Q: On April 30, Petrol Company issued 7,000 of 15% ₱1,000 bonds at 95. The bonds have a five-year term…

A: SOLUTION- BOND IS A WRITTEN AGREEMENT OR CONTRACT BETWEEN AN ISSUER AND THE HOLDER THAT REQUIRES THE…

Q: Hadley Ltd. is authorized issue $1,000,000 of 2%, 10-year bonds payable. On December 31, 2021, when…

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

Q: On January 1, 20x1, SENECTITUDE OLD AGE Co. issued its 12%, 3-year, P2,000,000 convertible bonds at…

A: Issue date= Jan 1, 20X112% convertible bonds at 110Conversion ratio= 1 bond= 8 shares

Q: Krause Corporation issued $2,600,000​, 10​-year, 5​% bonds for $2,470,000 on January​ 1, 2019.…

A: Amortization is defined as the technique used to  lower the book value of the intangible asset…