11%. Patton Company uses the effective-interest method and plans to hold these bonds to maturity. 1. On July 1, 2011, Patton Company should increas

Q: On January 1, 2019, Mayleen Company issued 5,000 convertible bonds with P1,000 face value per bond.…

A: Equity component = Issue price of the bonds - fair value of the bond without the conversion…

Q: On January 1, 2018, CHE Co. purchased 12% bonds, having a maturity value of P800,000, for P860,652…

A:

Q: On January 1, 2020, Blossom Company purchased $310,000, 6% bonds of Aguirre Co. for $284,855. The…

A: Under the effective interest method of amortization of discount or premium, the difference between…

Q: On January 1, 2018, Rapid Airlines issued $200 million of its 8% bonds for $184 million. The bonds…

A: 1. Prepare the journal entry to record interest on June 30, 2018.

Q: On June 30, 2006, Naruto Company had outstanding 9%, P5,000,000 face value bonds maturing on June…

A: Bond: Bond is the financial security which allows the investors to have the fixed interest income…

Q: On January 1, 2010, Rambutan Corporation purchased debt securities for cash of P765,540. The…

A: Rambutan Corporation purchased debt securities at P765,540 which carries the interest rate of 10%…

Q: On April 1, 2020, CASHEW Company sold 12,000 of its ₱1,000 11%, 5-year face value bonds at 96. The…

A: Total discount on bonds issue = Face value of bonds x (100- issue price)/100 = ₱12,000,000 x (100 -…

Q: On April 1 2017 , Seminole Company sold 15,000 of it 11%, 15-year, $1000 face value bonds at 97.…

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: Company P purchased $100,000 of subsidiary Company S’s bonds for $96,000 on January 1, 2015, when…

A:

Q: On January 1, 2019, Odeng Company purchased P1,000,000, 12% bonds of Myeongdong Company for P1,063,…

A: The bond is an investment security which are issued by the large organisation in order to raise…

Q: On April 1, 2017, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97.…

A: “Hey, since there are multiple questions posted, we will answer first three questions If you want…

Q: On January 1, 2020, Lucas Company purchased P1,200,000, 14% bonds of Andres Company for P1,381,934,…

A: Ending balance of Bond Investment = Beginning Balance + Interest Accrued at Effective rate -…

Q: On April 1, 2020, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97.…

A: Since we only answer up to 3 sub-parts, we’ll answer the first three. Please resubmit the question…

Q: On January 1, 2020, Oriole Company purchased 12% bonds, having a maturity value of $ 310,000 for $…

A: Bonds- Bonds are those monetary securities that are issued by banks, governments, companies so as to…

Q: Haiti Company purchased 5,000 bonds per ₱1,000 face amount, 10% bonds to yield 12%. The carrying…

A: The gain amount which an investor will get after buying a bond is the function of the purchase…

Q: On January 1, 2020, Safety Company issued 10,000 P1,000 bonds with 10% stated interest payable every…

A: 3.How much is the net increase/decrease in the Shareholders' Equity during 2021? [Indicate whether…

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: Tanner Co. acquired $120,000 of 6% bonds, dated July 1, on July 1, 2021 by paying $100,000. Tanner…

A: Journal:- These are prepared by the companies with debit and credit sides in order to match the…

Q: On April 1, 2020, Cat Company sold 12,000 of its ₱1,000 11%, 5-year face value bonds at 96. The…

A: Total discount on bonds issue = Face value of bonds x (100- issue price)/100 = ₱12,000,000 x (100 -…

Q: Danner Company sold $500,000 of 8 percent, 20-year bonds on April 1, 2014, at 105. The semiannual…

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

Q: What are the entries that reflect ABC Corporation’s transactions for the years 2015 and 2016?

A: cash payment = 1000000*111.5% + 1000000*15%*2/12 = 1140000   loss = 1200000-1110401= 9599

Q: Fowler Inc. purchased $75,000 of bonds on January 1, 2018. The bonds pay interest semiannually and…

A: Debt investments: The financial instruments which are bought by investors, or corporations, or…

Q: On January 1, 2010, Huber Co. sold 12% bonds with a face value of $600,000. The bonds mature in five…

A: Amortization of bond: The process of allocation and reduction of the discount or premium on bonds to…

Q: On April 1, 2020, CASHEW Company sold 12,000 of its ₱1,000 11%, 5-year face value bonds at 96. The…

A: Bond Payable Bond Payable is the instrument which are issued by the federal authority which is used…

Q: On January 1, 2014, Buknoy Company purchased serial bonds with face value of P3,000,000 and stated…

A: To find the presert value of bond , we need to discount the future cash flow to find out the present…

Q: On May 1, 2010, Kirmer Corp. purchased $450,000 of 12% bonds, interest payable on January 1 and July…

A: Bonds are a form of debt or loan issued by the company, on which company has to make regular…

Q: Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2021, as a…

A: a. Journal entry:

Q: Garr Co. issued $6,000,000 of 12%, 5-year convertible bonds on December 1, 2018 for $6,025,480 plus…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Sycamore, Inc. purchased €100,000 of 8 percent bonds of Alvarado Industries on January 1, 2022, at a…

A: When you own an asset that has deteriorated in value but do not sell it to realize the loss, you…

Q: At April 1, 2021, Candy Company sold the Sugar bonds for $3,090,000. Assuming Candy Company has a…

A: Any change in the value of Available-for-Sale Debt Securities are recorded an gain or loss…

Q: Linco Industries is a 90%- owned subsidiary of Sharp Incorporated. On January 1, 2015, Linco issued…

A: Prepare eliminations and adjustments as explained: Result:

Q: On May 1, 2011, Graham Company purchased a short-term P2,000,000 face value, 9% debt instruments for…

A: The trading security is reported on at the fair value on the balance sheet of the firm. If there is…

Q: On January 1, 2018, CEBU Company purchased 12% bonds, having a maturity value of P800,000, for…

A: Bonds refers to the borrowing security issued by the company to raise fund from the market by making…

Q: Arrieta Company purchased $2,250,000 of 8% bonds of Baez Company on January 1, 2023, paying…

A: solution : given face value           =$2250000 coupon rate       =8% market rate of interest = 10 %…

Q: On January 1, 2018, CEBU Company purchased 12% bonds, having a maturity value of P800,000, for…

A: As per PFRS 9 the Financial assets shall be initially record at Fair value and add or subtract any…

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

A: Carrying value of bond = present value of all cashflows  Bond will mature December 31st, 2021 hence,…

Q: On January 1, 2020, HIBISCUS Company purchased 4,000 of ₱1,000 face value, 10% bonds of IXORA…

A: A bond is a financial instrument that is issued by large business entities and government bodies to…

Q: Flint Company invests $10,000,000 in 6% fixed rate corporate bonds on January 1, 2020. All the bonds…

A: Available for sale instruments are recorded initially at the purchase price. However, this is…

Q: On January 1, 2021, Rupar Retailers purchased $130,000 of Anand Company bonds at a discount of…

A: Bonds :— It is one of the source of capital in which it's investors gets benefit of fixed periodic…

Q: On January 1, 2020 Chicken Wings Company purchased P3,000,000, 8% bonds of Fried Chicken Corporation…

A: Chicken Wings purchased bonds n which generated two types of return to it. First, Chicken wings…

Q: On January 1, 2020, Hummer Company purchased 5% bonds, havinga maturity value of $500,000, for…

A: Bonds:   Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued…

Q: Carsen Company purchased $200,000 of 10% bonds of Garrison Co. on January 1, 2012, paying $211,950.…

A: Bonds value= $200,000 of 10% paying $211,950 Maturity Date= January 1, 2022 Interest payment is…

Q: Stave Company invests $10,000,000 in 5% fixed rate corporate bonds on January 1, 2017. All the bonds…

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…

Q: n January 1, 2019, Odeng Company purchased P1,000,000, 12% bonds of Myeongdong Company for P1,063,…

A: Date  Interest Collected   Interest  Income Amortization  Carrying Amount  1/1/2019…

Q: On July 1, 2016, Pell Co. purchased Green Corp. 10-year, 8% bonds with a face amount of $500,000 for…

A: Effective interest rate method of amortization is a process of amortizing premium on bond or…

Q: On April 1, 2020, CASHEW Company sold 12,000 of its ₱1,000 11%, 5-year face value bonds at 96. The…

A: Total discount on bonds issue = Face value of bonds - (Face value of bonds x issue price/100)  =…