On January 1, 2017, KLM Company purchased bonds with face amount of 5,000,000. The entity paid 4,600,000 plus transaction cost of 142,290. The bonds mature on December 31, 2019 and pay 6% interest annually on December 31 of each year with 8% effective yield. The bonds were quoted at 106.5 on December 31, 2017 and 108 on December 31, 2018.

Q: On January 1, 2020, Aguilar Corporation purchased bonds with a face value of P4,000,000 for…

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

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, 2021, Illuminati Company purchased 10% bonds with a face amount of P3,000,000. The…

A: Formulas that are used:-

Q: Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2018, as a…

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

Q: On January 1, 2018, an entity purchased bonds with face amount of P5,000,000. The entity paid…

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

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

A: Bonds refers to the financial instrument issued in the market to collect the funds. Interest is paid…

Q: On January 1, 2020, Aguilar Corporation purchased bonds with a face value of P4,000,000 for…

A: Step 1 Journal is the Part of Book Keeping.

Q: Presented below are three independent situations: a. IKJUN Co. purchased 12% bonds having a maturity…

A: a. Account title and explanation Debit Credit 12% Bonds A/c  $107,581   To Bank A/c…

Q: Landis Company purchased $3,000,000 of 8%, 5-year bonds from Ritter, Inc. on January 1, 2018, with…

A: Other comprehensive income=Fair value of bonds-(Sales value of bonds-Amortized premiums)

Q: On August 1, 2021, Excel Company purchased at par P5million bonds with stated interest rate of 12%…

A: Lets understand the basics. We all know that bond can be purchased at the issue time or at mid of…

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

A:

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

A: Bonds: Bonds are the fixed income instrument that provide regular interest income to its holders. It…

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Solution A journal is used to record the business transation in chronological order. It has two…

Q: On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds…

A: Profit or loss on reclassification  is the difference between the revised carrying value and…

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

A:

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Golden Rules of Accounting : Account Type Debit Credit Personal Account the receiver the giver…

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

A: 1.

Q: On January 1, 2016, Star Company received P107,720 for a P100,000 face amount, 12% bond, a price…

A: One of the source used by the business entities to meet their financial requirements is issue of…

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

A:

Q: On January 1, 20x4, Mondragon Company purchased bonds with face value of P5,000,000 at a cost of…

A: Step 1 Initial recognize   is made at transaction price which is P 4, 700,000 which is transaction…

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

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

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

A: Journal enteries on the issuance of Bonds for the organisation Western and stillworth organisation.

Q: On July 1, 2017, Wheeler Company purchased $4,000,000 of Duggen Company’s 8% bonds, due on July 1,…

A: Note – As the interest payment is semiannual interest revenue is divided by 2. Therefore $175000…

Q: Rumpi Company purchased $50,000 of 7 percent bonds of Evermistress Corporation on January 1, 2015,…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: On January 1, 2020, Aguilar Corporation purchased bonds with a face value of P4,000,000 for…

A: Where investment are classified as FVTPL, then initially the investments are recorded Fair Value .…

Q: On January 1, 2019, Davao de Oro Company purchased bonds with a face amount of P5,000,000. The…

A: Bond amortization schedule (effective interest…

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

A: SOLUTION- Bonds refers to the financial instrument issued in the market to collect the funds.…

Q: On January 1, 2020, Liam Company purchased bonds with face amount of P10,000,000 for P10,515,000.…

A: Bonds Face amount = P 10000000 Cash paid for bonds = P 10515000 December 31 , 2020 bonds are quoted…

Q: On January 1, 2021, Illuminati Company purchased 10% bonds with a face amount of P3,000,000. Th…

A: Computation of carrying amount of bonds on december 31,2022:   Amount Interest income Interest…

Q: On January 1, 2019, Davao de Oro Company purchased bonds with a face amount of P5,000,000. The…

A: On 01.01.2019, Davao de Oro company purchased bonds of face amount = P5000000 Entity paid = P4600000…

Q: On June 30, 2016, King Co. had outstanding 9%, $5,000,000 face value bonds maturing on June 30,…

A: A bond is a fixed pay instrument issued to represent to an advance made by a financial specialist to…

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: On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds…

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

Q: On January 1, 2015, when the prevailing effective rate on similar instruments was at 7%, INC Company…

A: Bond Valuation Bond Valuation which can be made either par value or in discount or in premium as…

Q: On January 1, 2020, Ye Company purchased 8% bonds in the face amount of P4,000,000. The bonds mature…

A: If the entity changes their classification from FVOCI to FVTPL then the unrealized gain/ loss are…

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

A: Bond Bond is a source of finance issued by the firm to raise money. It has a fixed Interest rate…

Q: Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2016, as a…

A: Journal:Journal is the method of recording monetary business transactions in chronological order. It…

Q: On June 1, 2017, HIJ Company purchased bonds with a face amount of 3,000,000 to be held to maturity.…

A: Bond Amortization Table It  is the  table  which shows the amount of interest expense/revenue,…

Q: On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face…

A: Journal Entry: It is the act  of  recording  business transaction(either economic or non-economic)…

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

A:

Q: On October 2014, Nathan Company purchased a debt security having a face value of P 3,000,000 with an…

A: Calculation of Accrued Interest on the date of acquisiton (Oct 2014)  Interest on 10% bonds is…

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…

Q: On January 1, 2016, Covid Corp., purchased debt securities for cash of P765,540 to be held as…

A:

Q: On January 1, 2021, Marena Company issued bonds with a face amount of P3,500,000 for P3,765,300. The…

A: The company can raise the required capital by issuing the shares, debentures, bonds, etc., These are…

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 January 1, 2017, Natifah Inc. acquires $500,000 of 8% bonds at a price of $552,970. The interest…

A: (2A)3 year amortization schedule Date.  Cash.         Interest.      Amor-.      Carrying 31/12…

Q: year with 8% effective yield. The bonds are quoted at 95 and 90 on December 31, 2019 and December…

A: Given: To calculate the amount of cumulative of gain or loss in the financial statement of Dec 31,…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.