On June 1, 2019, Vape Inc. issued P12,000,000 of 10% bonds to yield 12% effective rate. Interest is payable semiannually on May 31 and November 30. The bonds mature in 15 years. Vape, Inc. is a calendar-year corporation and uses the effective interest rate method of amortizing bonds. Determine the carrying amount of the bonds as of December 31, 2019.

Q: On January 1, 2021, Splash City issues $360,000 of 7% bonds, due in 10 years, with interest payable…

A: Semiannual interest payment = Face value of bonds x rate of interest x no. of months/12 = $360000 x…

Q: On May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a…

A: The bonds is payable in series of five equal annual installments every April 30 and pays annual…

Q: On January 1, 2019, W Sport Corporation issued 10% bonds with a face value of $200,000. The bonds…

A: Bond interest: Bond interest is the interest payment that to be made to bond Holder. Generally a…

Q: On January 1, 2019, X Sports Corporation issued 10% bonds with a face value of $200,000. The bonds…

A: Par value of bonds =$200000Issue price of bonds =$191000Discount on issuance of bonds…

Q: On January 1, 2021, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable…

A: A BOND ISSUE IS TYPE OF DEBT FORM OF FINANCING ON WHICH INTEREST IS PAID ON FIXED RATE OF THE FACE…

Q: On July 1, 2019, Fewa Company issued P4,000,000 of 16% bonds to yield 14%. Interest is payable…

A: Bond Interest Expense in Effective Interest Method of Amortisation will be = Present Value of Bond *…

Q: On July 1, 2019, Honda Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to…

A: Semiannual interest payment = face value of bonds x rate of interest x no. of months/12 = P5,000,000…

Q: On January 1, 2019, Black Panther, Inc. issued P4,000,000 of 9% bonds, dated January 1 at 97.…

A: Determine Carrying amount of bonds payable Face value of bonds P4,000,000 Issued at 97% issued…

Q: On January 1, 2021, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable…

A: Semiannual interest payment = Face value of bonds x rate of interest x no. of months/12 = $320000 x…

Q: On January 1, 2020, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a…

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

Q: On January 1, 2021, Mirada, Inc. issued five-year bonds with a face value of $100,000 and an annual…

A: Carrying cost is value of bonds which is shown in books of accounts

Q: On January 1, 2019, G Sports Corporation issued 10% bonds with a face value of $200,000. The bonds…

A: SOLUTION- DISCOUNT ON BONDS IS THE DIFFERENCE BETWEEN THE ISSUE PRICE AND THE FACE VALUE OF BOND.…

Q: ) On January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were…

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

Q: On January 1, 2020, Fergus Corporation issued $800,000, 10%, 5-year bonds. The bond interest is…

A: SOLUTION INTEREST EXPENSE TO BE RECOGNIZED FOR 6 MONTHS = BONDS BOOK VALUE AT THE BEGINNING OF THE…

Q: On January 1, 2020, Latvia Company issued 3-year bonds with face amount of 5,000,000 at 98.…

A: Effective interest method is method used to recognise the interest expense for the year, when…

Q: On January 1, 2020, Latvia Company issued 3-year bonds with face amount of 5,000,000 at 98.…

A: On 01.01.2020, Latvia Company's Issued 3 years bonds with face value = 5000000 Issued price = 98…

Q: On January 1, 2019, Canglon, Inc., issues 10%, 5-year bonds with a face value of $150,000 when the…

A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…

Q: On January 2, 2015, Banno Corporation issued $ 1,500,000 of 10% bonds at 97 due December 31, 2024.…

A: Face Value of bonds required to redeemed $9,00,000 Discount on bonds Payable ($900000 * 3%)…

Q: On January 1, 2021, Luyang Company issued 3-year bonds with face amount of P5,000,000 at 98.…

A: Bonds payable is a liability account that holds the amount that the issuer owes to bondholders.…

Q: On January 1, 2021, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable…

A: Entry to record the issuance of bonds payable.

Q: On January 1, 2021, Splash City issues $450,000 of 7% bonds, due in 10 years, with interest payable…

A: Solution;- Preparation of amortization schedules as follows:-

Q: On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable…

A: 1. Workings: 600,000*7%*6/12= 21,000 Interest paid= 6% interest on carrying value for 6 months…

Q: Determine the proceeds that the company will receive if it sells the following: (Click here to…

A: Computation of proceeds from bonds is shown below :

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

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

Q: On December 31, 2018, White Company issued $400,000 of five-year, 12% bonds payable for $430,887,…

A: Premium on bonds = Issue value - Face value = $430,887 - $400,000 = $30,887

Q: On May 1,2020, ABC Corporation issued a 5-year, 10%, 1,000 of the P 5,000 face value bonds with a…

A: Upon initial recognition, the financial liabilities shall be measured at fair value. In general, the…

Q: On January 1, 2019, SB Company issued its 10% bonds in the face amount of P10,000,000 that mature on…

A: Solution: Interest expense on July 1 = P9,160,000*12%*6/12 = P549,600 Semiannual interest paid =…

Q: On January 1, 2021, Lh Company was authorized to issue 12% bonds with a face amount of ₱5,000,000.…

A:

Q: On January 1, 2021, a company issued 10-year, $3,000,000, 6% bonds with semiannual interest…

A: a.

Q: On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable…

A: Annual interest payment = Face value of bonds x rate of interest x time = $600,000 x 7% x 1 year =…

Q: On January 1, 2021, Bicol Company issued 5-year bonds with face value of P 10,000,000 at 95. The…

A: Working notes :-…

Q: On January 2, 2015, Banno Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2024.…

A:

Q: On January 1, 2021, Lambda, Inc. issued ten-year bonds with a face value of $1,000,000 and an annual…

A: Bonds issued at discount: Bonds are said to be issued at discount if the issue price is less than…

Q: Lassen Corporation issued ten-year term bonds on January 1, 2020, with a face value of $800,000. The…

A: Bond is an investment security with low risk and low return. A fixed rate of interest is attached…

Q: On January 1, 2020, Grouper Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were…

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

Q: On January 2, 2015, Shamrock Corporation issued $1,900,000 of 10% bonds at 97 due December 31, 2024.…

A: When bonds are issued at discount, the discount on issue of bonds need to be carried forward and…

Q: March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877.…

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

Q: On September 1, 2021, Evansville Lumber Company issued $80 million in 20-year, 10 percent bonds…

A: Discount Amortization=Amount of bonds issued×Rate of interest×Number of monthPeriod of issuance…

Q: On July 1, 2019, Matalik Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to…

A: Since effective interest rate method is being used.  As per effective interest rate method the…

Q: On January 1, 2018, Paradiso Company issued 1,000 of its 8%, $1,000 bonds at 93. Interest is payable…

A: Definition:   Bonds: Bonds are a kind of interest-bearing notes payable, usually issued by…

Q: On January 1, 2020, PS ind issued P600,000 of 7% bonds, due in 10 years. The bonds were issued for…

A: Introduction: Journal entries are the basis of double accounting rules, which have been used for…

Q: esto Corporation has authorized to issue$4,500,000 of its 9%, 5-year bonds On January 1, 2019, when…

A: 1) Journal Entry to record issue of Bonds. Date Particulars Debit Credit Jan 1 - 2019 Cash…

Q: Quatro Co. issues bonds dated January 1, 2019, with a par value of $880,000. The bonds' annual…

A: Answer 1:

Q: Madison Corporation is authorized to issue $570,000 of 5-year bonds dated June 30, 2019, with a…

A: Solution-1 Cash Flow at the time of maturity = $570000 Interest (Annuity) semiannually =…

Q: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of…

A: "Since you have asked multiple question we will solve the first three sub part question for you.  If…

Q: On January 1, 2021, Splash City issues $360,000 of 7% bonds, due in 10 years, with interest payable…

A: CALCULATION OF INTEREST AMOUNTS :   ON 30 JUNE , 2021 : = $360,000 X 7% X 1/2  =$12,600   ON 31 DEC…

Q: At the beginning of 2020, Leira Corporation issued 10% bonds with a face value of P 1,500,000. These…

A: Working:

Q: On January 01, 2019, SUNOD NA ANG LEASES LTD. issued 3-year bonds with face value of P5,000,000 at…

A: PV of cash flows=Present value of Future payments(Interest+Face value) @ YTM

Q: On January 1, 2020, Edison Co. issued eight-year bonds with a face value of P 2,000,000 and a stated…

A: Solution: Bonds are the debt instruments issued by entity to obtain funding. Bonds are having…

Q: On March 1, 2021, JebaMac Company issued 7% term bonds with a face amount of P1,000,000 due March 1,…

A: Initial carrying amount of the liability = Present value of principal + Present value of interest…