carrying amount of the bonds on December 31, 2023?

Q: On January 1, 2021, Demeanor Company purchased bonds with face amount of P5,000,000 to be held as…

A: Bond is an investment security which provides a fixed interest income to the bondholders. The…

Q: On January 1,2020, Jerry Conpany acquired P6,000,000 of 12% face value bonds at P5,650,500 to be…

A: Annual interest payment =face value of bonds x rate of interest x year = P6,000,000 x 12% x 1 year =…

Q: On January 1, 2019, Lasagna Company purchased 3,000, P1,000 face value term bonds with a stated rate…

A: Here discuss about the details of Valuation of Bond and its changes as in the reclassification as…

Q: On January 1, 2021, Romania Company acquired 3-year bonds with a face amount of P2,000,000 for…

A: Gain on retirement of bond is calculated by subtracting the fair value of bond from the retirement…

Q: On September 1, 2021, Howell Company purchased 600 of the P1,000 face value, 9% bonds of Ramsey,…

A: The bonds purchased for non trading are recorded as investment in the balance sheet. The difference…

Q: On October 1, 2021, POGI Company purchased 4,000 of the P1,000 face amount, 10% bonds of GANDA…

A: Bonds are defined as the units of the corporate debt, which are issued through the companies as well…

Q: On January 1, 2018, lab Co. acquired P4,000,000 of 12% face value bonds at P3,767,000 to be held…

A: Face value of bond, on January 1, 2018 = P 4,000,000 Carrying value of bond on January 1, 2018 = P…

Q: On January 1, 2021, RUDOLPH Company received ₱107,720 for a ₱100,000 face amount, 12% bond, a price…

A: Semiannual interest payment = face value of bonds x rate of interest x 6/12 = 100000*12%*6/12 =…

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

A: Carrying amount of bond investment = Total consideration paid - accrued interest = P910,000 - 20000…

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: 9. On January 1, 2020, HIBISCUS Company purchased 4,000 of P1,000 face value, 10% bonds of IXORA…

A: Bonds are the debt security which is offered or issued by the corporates or the governments to…

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

A: Carrying amount of bond investment = Total consideration paid - commission - accrued interest =…

Q: On January 1,2019, DEF Company purchased 456B Corporation, 9% bonds with a face value of P 4,000,000…

A: Interest revenue for 2019 = P3,756,000 * 10% = P375,600 Interest received for 2019 = P4,000,000 * 9%…

Q: On October 1, 2021, Complex Company purchased a 12% P3,000,000 face amount-bond issue for P2,700,000…

A: A bond is a fixed interest bearing debt instrument issued by a company to finance its operation.…

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 January 1, 2019, Lasagna Company purchased 3,000, P1,000 face value term bonds with a stated rate…

A: Reclassification refers to the process of changing the classification of an asset, liability, or…

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

A: The answer is given below:

Q: 18) On January 1, 2020, ABC Company acquires $400,000 of XYZ Company's 10-year, 8% bonds at a price…

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

Q: On January 1,2019, DEF Company purchased 456B Corporation, 9% bonds with a face value of P 4,000,000…

A: Interest revenue to be recognized in 2019 = P3,756,000 * 10% = P375,600 Interest paid for the year…

Q: On November 1, 2022, Dayrit Corporation purchased P800,000 face value, 10-year, 8% term bonds dated…

A: The bonds are issued by a company in order to fulfill its financial needs. These are classified as…

Q: On October 1, 2021, POGI company purchased 4000 of the P1000 face amount, 10% bonds of GANDA Company…

A: The carrying value of a bond means the net amount between the bond's face value plus any…

Q: On January 1, 2019, Apollo Corporation purchased 4-year P8,000,000, 10% bonds at face value. The…

A: The bond was sold on 31 December 2021, which means it had a one year remaining life before maturity.…

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 January 1, 2018, LAB Co. acquired P4,000,000 of 12% face value bonds at P3,767,000 to be held…

A: If a company buys a financial instrument for $150,000 that has a face amount of $200,000 and which…

Q: On January 1, 2021, Mirakulo Company acquired P4,000,000 of 12% face amount bonds for P3,767,000 to…

A: Carrying amount of the bond = Present value of principal + Present value of interest payments where,…

Q: On January 1, 2022, BTS Company purchased 3,000, P1,000 face value term bons with a stated rate of…

A:

Q: 6.On January 1, 2019, Cruiser Corporation issued 5,000 of its 5-year, P1,000 face value, 11% bonds…

A: Introduction: In simple terms, bond is a loan taken by the issuer company from the person who…

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

A: Solution: Purchase cost of bonds = Purchase price - Accrued interest = P910,000 -…

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

A: Working note: Computation of carrying amount of bonds investment on April 1, 2020:

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

A: The question is based on the concept of Financial Accounting.

Q: On April 1, 2020, Purefoods Company purchased a bond for P910,000 including accrued interest and…

A: The amount by which the proceeds from the sale of investments were greater than the carrying value…

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

A: Formula: Gain on sale of bonds = Sale value - fair value of bonds

Q: On August 1, 2021, Sheffield Corporation, a public company, purchased $86,400 of Alaska Ltd.…

A: SHEFFIELD CORPORATION BALANCE SHEET (PARTIAL) For the year ended December 31, 2021…

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

A: The coupon interest rate is always paid on the face value of the bonds and is independent of the…

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

A: Interest accrued on April 1, 2020 =  face value of bonds x rate of interest x no. of months/12 =…

Q: On April 1, 2021, Eminem Company purchased 4,000 of the P1,000 face amount, 8% bonds of Stan Company…

A: Accounting is essential to operating a company since it allows businesses to track income and…

Q: On July 1, 2020, Sprakenheit Company purchased P500,000 face value Swazzeg Company 8% bonds for…

A: Bonds: Bonds are one of the main debt sources of raising funds from the public. Company issue bonds…

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

A: Interest accrued on April 1, 2020 =  face value of bonds x rate of interest x no. of months/12 =…

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

A: Given Data: Face value of bonds = 4,000 bonds at ₱ 1,000 Par value = ₱ 4,000,000 Carrying value of…

Q: On July 1, 2021, Darrell Company purchased as debt investments at fair value through profit or loss,…

A: Realised gain is the gain which is realised in cash after sale of bonds.…

Q: On January 1, 2020, Ayayai Corporation purchased 339 of the $1,000 face value, 9%, 10-year bonds of…

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

Q: On January 1, 2021, RUDOLPH Company received ₱107,720 for a ₱100,000 face amount, 12% bond, a price…

A: Semiannual interest payment = face value of bonds x rate of interest x 6/12 = 100000*12%*6/12 =…

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

A: Bonds are purchased on 1 april 2020 at 910000 which include interest of P20,000 of three month and…

Q: June 1, 2022, when the prevailing market rate on similar instruments was at 14%, ABC Company…

A: An interest of 12% is paid every on every May 31. Date of purchase of bond = June 1 ,2022 Purchase…

Q: 2. On January 1, 2020, Novatpa Company purchased $1,000,000, 6% bonds of Aguirre Co. for $947,574.…

A: Here discuss about the details of the valuation of bond with the amortization of discount which are…

Q: 19, King Cmpany had outstandıng 9% On June 30, 2024. Interest is payable semiannually every June 30…

A: Given data, Face value of bonds =P 5,000,000 Unamortized premium=P 30,000 Unamortized discount =P…

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

A: Bonds can be defined as debt securities which are issued by large organisation including government…

Q: 14. On July 1,2020, Pell Cornpany purchased Green Cormpony ten-year, 8% bonds with a face amount of…

A: Given, Face amount = P 5,000,000

Q: On January 1, 2021, Carrots Corporation purchased, as held-for-collection investment, P60,000 of the…

A: Bonds can be defined as an investment security which provides a fixed return on the investment with…

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

A: