On July 1, 2014, Oladipo Corporation issued 11% bonds in the face amount of P2,000,000 that mature on June 30, 2018. The bonds were issued to yield 10% and interest is payable every January 1 and July 1. Oladipo uses the effective interest method of amortizing bond premium and discount. What is the carrying amount of the bonds as of December 31, 2014? A. 2,043,640 B. 2,051,086 C. 2,057,863 D. 2,064,930

Q: On January 1, 2009, Zero Co. issued its 10% bonds in the face amount of P4,000,000, which mature on…

A: Formula: Adjusted unamortized bond premium at December 31, 2009 = Total bond premium - Amortization…

Q: On January 1, 2011, Mormont Company issued 9% bonds in the face amount of P2,500,000 which mature on…

A: Premium (discount) upon issuance of bonds = Issue value of the bonds - Face value of the bonds…

Q: ry 1, 2016, Truffle Corp. issued 9% bonds in the face amount of P 5,000,000, which maature on…

A: Solution: Under interest method of bond amortization, Discount amortized is difference between cash…

Q: On January 1, 2016, Wolf Company issued 10% bonds in the face amount of P5,000,000, which mature on…

A: Interest payment on December 31, 2016 = Face value of bonds x rate of interest x years = P5,000,000…

Q: On January 1, 2015, Surreal Manufacturing issued 600 bonds, each with a face value of $1,000,…

A: 1.

Q: On January 1, 2016, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds…

A:

Q: On January 1, 2006, Wolf Company issued its 10% bonds in the face amount of P5,000,000, which mature…

A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds payable.

Q: On 1 January 2008, Gomez & Co. issued its 10% bonds in the face amount of P4,000,000, which mature…

A: Amortization of bond premium = Interest payment - Interest expense where, Interest expense =…

Q: Baron, Inc., issued $100,000 of its 8%, five-year bonds on January 1, 2016, at 98. Interest is paid…

A: Given, Jan 01, 2016 8% 5 year Bonds issued @ discount ($98) Face value = $ 100000   April 01, 2018…

Q: On January 1, 2017, Surreal Manufacturing issued 780 bonds, each with a face value of $1,000, a…

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: On January 1, 2016, United Corp. issued its 9% bonds in the face amount of P 2,000,000, which mature…

A: Bonds is an investment security in which investors invest amount in exchange of regular interest…

Q: On January 1, 2017, the board of directors of Papermaker Inc. issued 9-year, 2% bonds with a par…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: On January 1, 2018, Watch Works Incorporated (wWI) issued $77,000 par value, 8%, four-year bonds…

A: Bond valuation refers to a method which is used to compute the current value or present value (PV)…

Q: On January 2, 2012, Halcon Company issued 9% bonds in the amount of P8,000,000 which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: On January 1, 2018, Parker Company issued bonds with a face value of $63,000, a stated rate of…

A: Amortization means decrease in the amount of debt over a period of time by paying some amount…

Q: $939,000 to yield 10%. Alquds uses the effective-interest method of amortizing bond discount.…

A: Un amortized bond discount ,7/1/ Year 1   Bond discount amortization ,7/1/ Year 1 to  6/30/Year3:…

Q: On January 1 2017, Aumont Company sold 12% bonds having a maturity value of $500,000 for…

A: Prepare the journal entry to record the interest payment and the amortization for 2019.

Q: On January 1, 2006, Ward Company issued its 9% bonds in face amount of P4,000,000, which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: On January 2, 2012, Tamarisk Corporation issued $1,650,000 of 10% bonds at 96 due December 31, 2021.…

A: First step is to compute the total discount on the issue of bonds on jan 2012.This will be computed…

Q: On May 1, 2016, Bench Co. issued 11% bonds in the face amount of P 1,000,000 that mature on May 1,…

A: Solution: Face amount of bond= P1,000,000 Premium on issue of bond = P62,000 Issue price of bond =…

Q: Sylvestor Company issues 9%, five-year bonds, on December 31, 2016, with a par value of $180,000 and…

A: Given that, Par value of bonds issued = $180000 Interest is payable on June 30 and Dec 31. Rate of…

Q: On January 1, 2006, Naruto Company issued 9% bonds in the amount of P5,000,000, which mature on…

A: To answer above question, following bond amortization table will be compiled till 30 June, 2006:…

Q: On January 2, 2016, ABC COMPANY issued P1,500,000 of10% bonds at 97 due December 31, 2025. Legal…

A: Redemption is the return of an investor's principal on a fixed income security such as a bond.…

Q: On January 1, 2016, Bonita Industries issued $4,000,000 of its 10% stated rate bonds for $4,475,661…

A: Extinguishment of debt  Liability is eradicated from company's balance sheet under extinguishment of…

Q: On January 1, 2018, Piper Co. issued ten-year bonds with a face value of $1,000,000 and a stated…

A: Bond- Bonds are debt securities issued by corporations, governments, or other organizations and sold…

Q: On January 1, 2016, Denver Inc. issued its 10% bonds in the face amount of P400,000, which mature on…

A: Please see Step 2 for required information.

Q: On January 1, 2016, Blue Company issued ten-year bonds with a face value of P 1,000,000 and a stated…

A: Face Value of Bond  1000000 Duration 10 years Interest Rate 8% per year  Interest Payable…

Q: Mellilo Corporation issued $5 million of 20-year, 9.5 percent bonds on July 1, 2011, at 98.…

A: Bond discount is the difference between the selling price of the bond and the face value of the…

Q: On January 1, 2006, Naruto Company issued its 9% bonds in face amount of P4,000,000, which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

Q: Shaw Company issued P5,000,000, 12% bonds on January 1, 2012. The principal of the bonds were paid…

A:

Q: On February 1, 2009, Alpha Company issued 5,000 of its P1,000 face value bonds at 110 plus accrued…

A: Formula: Net amount received from the issuance of the bonds = Issue value of the bonds + Accrued…

Q: n January 1, 2006, Naruto Company issued its 10% bonds in the face amount of P5,000,000, which…

A: Adjusted unamortized bond premium at year end = Total bond premium - amortized bond premium for the…

Q: On January 2, 2021, YELLOW Co. issued 9% bonds in the amount of ₱1,000,000 which mature on January…

A: Solution: Bond Issue price = P939,000 Amount of interest expense for the year ended Dec 31, 2021 =…

Q: On January 1, 2009, Beta Company issued 5,000 of its 12%, P1,000 face value bonds for P5,600,000,…

A: Formula: Net amount received from the issuance of the bonds = Issue value of the bonds + Accrued…

Q: On January 1, 2017, Carter Sales issued $28,000 in bonds for $15,700. These are six-year bonds with…

A: The following entry would have been recorded by Carter on January 1, 2017.

Q: On January 1, 2018, Parker Company issued bonds with a face value of $63,000, a stated rate of…

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

Q: On February 1, 2016, Strauss-Lombardi issued 9% bonds, dated February 1, with a face amount of…

A: 1.

Q: Terry Company is authorized to issue P5,000,000 of 6%, 10-year bonds dated July 1, 2011 with…

A: Bonds Payable - Bonds Payable is the liability for the company issued for a fixed period of time. It…

Q: On January 1, 2017, Babb Trailers, Inc. issued $6,500,000 of par value bonds for $6,200,000. The…

A: If the Bonds are issued on Discount then Carrying Value of Bonds will be Face Value  - Unamortized…

Q: On January 1, 2017, Satin Corp. issued eight-year, 6% bonds with a face value of $500,000, with…

A: Bonds refer to a financial security which is used by the borrowers to source required funds from a…

Q: On January 1, 2017, Naruto Company issued P4,000,000 face value bonds with a stated rate of 12% and…

A: Bonds are a form of debt or liability for the business, on which regular interest payments needs to…

Q: On January 1, 2006, Carrow Company issued its 10% bonds in the face amount of P1,000,000 that mature…

A: Lets understand the basics. There are two method for amortizing bond premium/discount which are, (1)…

Q: On January 1 2017, Aumont Company sold 12% bonds having a maturity value of $500,000 for…

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

Q: On December 31, 2016, Interlink Communications issued 6% stated rate bonds with a face amount of…

A: Price of the bond is the present value of the cash outflow at the end of the term and the present…

Q: Clem Company issued $800,000, 10-year, 5 percent bonds on January 1, 2015. The bonds soldfor…

A: In this question, we have required to pass the journal entry of issue of the bond issue and the…

Q: On July 31, 2018, Hummbug Corporation issued $100,000, 5%, 20-year bonds for $113,678 when the…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…