On, January 25, 2025 Samantha corporation purchases investment bonds in Tyler corporation for $20,000 cash. The bonds paid 10% semiannually, and had accrued interest for $250 at the time of the purchase. Record the transaction.

Q: On January 1, 2020, Fishbone corporation purchased 300 of the $1000 face value, 9%, 10 year bonds of…

A: Bonds are considered to be debt of company for which it needs to pay regular interest to the…

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 August 1 of the current year, Fleetwood Company purchased 5,000 , P1,000 , 12% bonds on Ritchie…

A: Sale value of bonds = No. of bonds sold x sales price = 2000 x P1000 x 102/100 = P2,040,000

Q: On March 1, 2021, your company sold $80,000 of 9%, 8-year bonds when the market rate was 7%. These…

A: Bond is an investment security which is issued by large corporation and government organization to…

Q: On April 1, 2019, Padayon Co. acquired a 5-year bond with a face value of P1,200,000 and stated…

A: Under ACM bo d should  be  measured  at fairvalue after adjusting  transaction costs

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 1st, 2021, Lemon Corporation issued $800,000 of 20 year 10% bond at 104. Interest was…

A: Bonds are a form of loan or debt issued by the company, on which it has to make interest payments.…

Q: In the google form, provide the interest income to be recorded on that same day.

A: On 01.01.2021, ABC purchased bonds and total face value = P6000000 Interest rate = 8% payable every…

Q: On January 2,2019, Silver Company invested in a 4-year 10% bond with a face value of $3,000,000 in…

A: Face value=$3,000,000 Coupon rate=10% Bond value at the time of sale, when interest rate=12%…

Q: On April 1, 2021 Jay Sy Co. purchased a P200,000 at face value bond investment that will mature on…

A: The increase or decrease in the fair market value of an asset leads to gain or loss but such gain or…

Q: On July 1, 2019, Salem Corporation issued $3 million of 12% bonds payable in 10 years. The bonds pay…

A:

Q: What is the interest revenue reported by Giniling for the year 2019? A. P15,000 B. P18,000 C.…

A: Bond :- Bond is an instrument which is used by the Government & Companies to raise money by…

Q: On July 1, 2002, Roger Co. paid P1,198,00 10% 20-year bonds with a face amount of P1,000,000.…

A: Carrying amount refers to the asset original cost which is shown in the balance sheet of the company…

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

A: Due to reclassification of debt instrument from amortized cost Fair Value through Profit or Loss,…

Q: (a) Sandra Corporation purchased $780,000 of its bonds on June 30, 2020, value of the bonds on the…

A: a) Journal Entry     Debit$ Credit$ Bond payable 780,000   Loss on bond redemption (…

Q: Carow SA purchased on January 1, 2019, as a held-for- collection investment, €50,000 of the 8%,…

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

Q: On January 1, 2019, Shay Company issues $440,000 of 10%, 20-year bonds. The bonds sell for $429,000.…

A: Semiannual interest payment = face value of bonds x rate of interest x 6/12 = 440000*10%*6/12 =…

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

A: The gain amount which an investor will get after buying a bond is the function of the purchase…

Q: On June 1, 2019, Beto Company purchased as held for collection securities 8,000 of the $1,000 face…

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

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

A: Journal Entry:   Journal entry has two effects for every transaction. The journal entry is passed…

Q: On April 1, 2021 Jay Sy Co. purchased a P200,000 at face value bond investment that will mature on…

A: We first need to understand about using Fair value through other comprehensive income (FVTOCI). This…

Q: On May 1, Cedar Inc. purchases $100,000 of 10-year, Madison Corporation 6% bonds dated March 1 at…

A: Semi annual interest is payable on Sept 1 and hence also on March 1. For Interest Receipt entry,  we…

Q: Wendy Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2019. The…

A: Annual interest payment = face value of bonds x rate of interest x yaer = $200000 x 6% x 1 = $12000

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

A: Bond can be referred to as an instrument which is used by different companies for raising funds from…

Q: On January 1, 2019, Shay Company issues $250,000 of 10%, 12-year bonds. The bonds sell for $243,750.…

A: Solution 1- Amount of  discount on bonds at issuance=Face value of bond issued-Actual proceeds from…

Q: On January 1, 2020, Kingbird Corporation purchased 325 of the $1,000 face value, 11%, 10-year bonds…

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

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

A: Journal entry: It is prepared to record the financial and non-financial transactions of the business…

Q: On July 01, 2019, SALUDO RAW SA'YO SI MAGELLAN SABI NI LOLA CO. received P1,032,880 for P1,000,000…

A: Market rate of interest = 10%/2 Market rate of interest = 5%

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

A: Amortization is an accounting procedure that is used to reduce the market valuation of a loan or an…

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

A: Bond :— It is one of the source of capital which gives fixed rate of interest and maturity value at…

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

A: Interest accrued on December 31, 2020 = investment x rate of interest x year = 50000 x 8% x 1 =…

Q: On Jan. 1, 2021, ABC purchased bonds for the purpose of both collecting the contractual cash flows…

A: Given: ABC purchased bonds based on the purpose of both that includes the contractual cash flows…

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

A: As per conservatism principle we can anticipate losses and provide for it but we…

Q: Wendy Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2019. The…

A: The bonds are issued by company at discount if bonds market price is higher than stated rate of…

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

A: A bond is a financial instrument that is issued by large business entities and government bodies to…

Q: Winrow Company received proceeds of $754,000 on 10-yea 8% bonds issued on January 1, 2019. The bonds…

A: A bondholder is someone who invests in or owns debt securities issued by corporations and…

Q: Wildhorse Co. received proceeds of $724000 on 10-year, 8% bonds issued on January 1, 2019. The bonds…

A: Interest: The money charged by the lender for using lender’s funds is referred to as interest. So,…

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

A: Interest  = Bond x Interest rate x Time

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

A: Step 1 Journal is the part of book keeping.

Q: On January 1, Dora purchases 100 of the $1,000, 6%, 15-year bonds issued by Splash City, with…

A: Interest revenue is calculated by using market interest rate = 7%

Q: journal entries

A: A bond is an acknowledgment by the borrower to pay a certain sum of money to the lender of money.…

Q: On December 31, 2015, Ariana Grande Corporation issued 20-year, nonconvertible bonds of P5,000,000…

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

Q: On January 2, 2020, a calendar-year corporation sold 5% bonds with a face value of $3180000. These…

A: Given, Face value = $3,180,000 Coupon rate = 5%/2 = 2.5% Market rate = 7%/2 = 3.5%

Q: On January 1, 2019, Shay Company issues $700,000 of 10%, 15-year bonds. The bonds sell for $684,250.…

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: On December 31, 2020, Phil purchased $20,000 of newly issued bonds of Texas Corporation for $16,568.…

A: Please see Step 2 for required information.

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

A: Step 1 Journal is the part of book keeping.

Q: On January 1, 2021, JAPAN COMPANY purchased 12% bonds with face amount of $ 5,000,000 for $…

A:

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

A: Interest revenue refers to the earnings which the entity makes from the investments or on the debts…

Q: On January 1, Year 1, Tina Company purchased P500,000, 12% bonds of Erika Company for P464,882, a…

A: Working Notes :-                       Company intended to collect the principal and…