1a. Purchased for cash $200,000 of Jakob, Inc. 9% bonds at 100 plus accrued interest of $3,000. DATE   Debit Credit X/X                                       1b. Received first semiannual interest payment. DATE   Debit Credit X/X                                         1c. Sold $80,000 of the bonds at 101 plus accrued interest of $250. DATE   Debit Credit X/X

Q: ddie Industries issues $950,000 of 8% bonds at 103. The amount of cash received from the sale is…

A: In the given question, Bonds having face value of $ 950,000 are issued at 103. It implies that…

Q: Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Description Debit…

A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is…

Q: On August 1 of the current year, Fleetwood Company purchased 5,000 , P1,000 , 12% bonds on Ritchie…

A: Sale value of bonds = No. of bonds sold x sales price = 2000 x P1000 x 102/100 = P2,040,000

Q: 14.On January 1, 2014, Orland co. purchased a 10-year, 10% P 3,000,000 face value bonds for 110…

A:

Q: Purchased for cash $200,000 of Jakob, Inc. 9% bonds at 100 plus accrued interest of $3,000. DATE…

A: 1. When bonds are purchased, then it may happen that bonds purchase date and interest due date are…

Q: Paris Inc. began operations in Year 1. Following is a series of transactions and events involving…

A: Fair Value Adjustment: It is an  accounting process  to reassess the fair value  if  there is a…

Q: Purchased for cash $130,000 of Jackson, Inc. 10% bonds at 100 plus accrued interest of $3,000. DATE…

A: The conditions are given as, a)Purchased for $130,000, Inc. 10% bonds at 100 with accrued interest…

Q: On July 1, 2002, Roger Co. paid P1,198,00 10% 20-year bonds with a face amount of P1,000,000.…

A: Carrying amount refers to the asset original cost which is shown in the balance sheet of the company…

Q: Assume that the bonds were classified as debt investments at fair value through profit or loss.…

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: On January 1, Year 2, Grand Company purchased as held for collection investment P1,000,000 face…

A: On December 31, Year 2: Interest receivable on bonds =1,000,000*8%=P80,000 Interest…

Q: Kern Company purchased bonds with a face amount of €400,000. Kern purchased the bonds at 397,000 and…

A: Answer Cost of Investment  include cost of Investment plus transaction cost like brokerage,…

Q: Purchased for cash $200,000 of Jakob, Inc. 9% bonds at 100 plus accrued interest of $3,000. DATE…

A: The bonds was purchased at 100 means the bond was purchased at is face value i.e. $100, neither at…

Q: Moab Corporation sells $600,000 of 7%, 20-year bonds for 98 on January 1. Interest is paid on…

A: Issue value = Face value of bonds x Issue price /100 = $600000 x 98/100 = $588,000

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A: Bond Valuation Bond can be valued ether in part value or in discount or in premium as well.…

Q: Debt investment transactions, available-for-sale valuationSoto Industries Inc. in an athletic foot…

A: In accountancy, journal entries can be defined as the process of recording relevant business…

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A: Definition: Journal entry: Journal entry is a set of economic events which can be measured in…

Q: 6. On August 1, 2011, Airport Company sold Paxton Company $1,000,000 of 10-year, 6% bonds, dated…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: entries

A:

Q: The following information relates to the debt investments of Waterstones. 1. On March 1, the company…

A: Journal entry is the primary entry that records the transactions initially.

Q: On July 1, 2002, Roger Co. paid P1,198,000 for 10% 20-year bonds with a face amount of P1,000,000.…

A: Interest expense in 2002 = Carrying amount of the note on initial recognition x interest rate x no.…

Q: 1c. Sold $80,000 of the bonds at 101 plus accrued interest of $250. DATE   Debit Credit X/X

A: Face value of the bonds = $80,000 Selling price of the bonds = Face value of the bonds x 101% =…

Q: On August 1, Year 1, Ant Company sold Bee Company $1,500,000 of 10-year, 6% bonds, dated July 1 at…

A: Journal entry is the one where the transactions of the business are recorded in the books of the…

Q: Lancaster Company carried out the following transactions in bond investments held for trading during…

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Q: On January 1, Year 1, Tina Company purchased bonds with face value of P4,000,000 for P4,206,000. The…

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Q: On January 1, 20x1, Eduard Co. acquired 12%, P4,000,000 bonds for P4,198,948. The principal is due…

A: Investment: It is an asset or item which is purchased and held to generate income or for…

Q: 1a. Purchased for cash $200,000 of Jakob, Inc. 9% bonds at 100 plus accrued interest of $3,000.…

A: Total amount paid = face value of bonds + accrued interest = $200,000 + 3,000 = $203,000

Q: n May 1, Knox Inc. purchases $100,000 of 10-year, 6% Madison Corporation bonds dated March 1 at 100…

A: Interest on May 1 = Face value of bonds x rate of interest x no. of months / 12 = $100,000 x 6% x…

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Q: n 7/2/Y1 Loch Ness, Inc. purchased 50 of the $1,000 face bonds issued by EBerry Corp. Loch Ness paid…

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A:

Q: On February 1, Hansen Company purchased $84,000 of 5%, 10-year Knight Company bonds at their face…

A: Accrued interest=Face value*coupon rate*n/12

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Q: Compute the cash proceeds from bond issues under the following terms.   Pear, Inc issued $171,000…

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Q: On September 1, Year 2, the 401 Company acquired P1,000,000 face value, 12% bonds of Key Company at…

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