loyd Limited had the following transactions pertaining to debt investments. Jan.  1, 2020 Purchased 50 $1,000 Petal Co. 8% bonds for $50,000 cash. Interest is payable annually on January 1. Dec. 31, 2020 Accrued interest on the Petal Co. bonds. Jan.  1, 2021 Received interest on Petal Co. bonds. Jan.  1, 2021 Sold 30 Petal Co. bonds for $33,500. Instructions: Prepare the adjusting entry for the accrual of interest at December 31, 2021

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A:

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Q: On January 1, 2020, Hilichurl Company purchased 4,000 of P1,000 face value, 10% bonds of Ivory…

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

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

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Q: Sandhill Corporation had the following transactions relating to debt investments: Jan. 1, 2022…

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Q: Megan, Inc., sold $500,000 of its 9%, five-year bonds dated January 1, 2018, on May 1, 2018, for…

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

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

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Q: Presented below is selected information related to the financial instruments of Dawson Company at…

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

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Q: Required: 1. Prepare the journal entries to record (a) issuance of the bonds by Western and (b)…

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Q: On January 1,2019, DELO Company purchased 456B Corporation, 9% bonds with a face value of P4,000,000…

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Q: An investor company purchased $790,000 of 5% bonds from the investee company on January 1, 2020,…

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

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Q: On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company…

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Q: On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company…

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Q: On January 1, 2020, Barbie Company purchased 4,000 of $1,000 face value, 10% bonds of Ken Company…

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Q: On April 1, 2018, Western Communications, Inc., issued 12% bonds, dated March 1, 2018, with face…

A: 1.

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Q: On July 1, 2020, West Company purchased for cash, four $10,000 bonds of North Corporation at a…

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Q: On 1/1/2019, Allie Company issued bonds payable of $500,000 at 8%. It was sold at $464,000 with…

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Q: On 1/1/2019, Allie Company issued bonds payable of $400,000 at 8%. It was sold at $364,000 with…

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Q: On May 1, 2018, ABC Corporation purchased $1,500,000 of 12% bonds, interest payable on January 1 and…

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Q: In 2021 and 2022, Norman Company had the following transactions related to investments in bonds.2021…

A:

Q: An investor company purchased $427,000 of 8% bonds from the investee company on January 1, 2020,…

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

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

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Q: The following are four independent situations. a.   On March 1, 2021, Wilke Co. issued at 103 plus…

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Q: On January 1, 2019, ZZZ Company purchased bonds with face amount of P5,000000. The entity paid…

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Q: On May 1, 2021, Bramble Corp. purchased $1,580,000 of 12% bonds, interest payable on January 1 and…

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Q: anuary 1, 2020, Splish Company purchased $300,000, 6% bonds of Cabana Co. for $313,128. The bonds…

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Q: On July 1, 2019, Cyclic Inc issued $1,000,000 in principal of 6% bonds due in July 2024. The bond…

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Q: Floyd Limited had the following transactions pertaining to debt investments. Jan.  1, 2020…

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Q: In 2021 and 2022, Norman Company had the following transactions related to investments in bonds.…

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Q: On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company…

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Q: On May 1, 2021, Bramble Corp. purchased $1,580,000 of 12% bonds, interest payable on January 1 and…

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

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

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Q: On January 1, 2021, Jason Corp. purchased 5-year bonds with a face value of P10,000,000 and a stated…

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Q: On January 1, 2019, ZZZ Company purchased bonds with face amount of P5,000000. The entity paid…

A:

Q: On January 1, 2018, Rei Company obtained $4,000,000 of 12% face value bonds at $3,767,000 to be held…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

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Q: On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,00 value bonds at 92. The company paid…

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Q: On January 1, 2020, Henderson Corporation redeemed $500,000 of bonds at 99. At the time of…

A: Calculate the amount of cash paid to redeem the bond.