Please provide entries on reclassification date under the following scenarios changes in business model in 20x2 a. Amortised cost to FVPL b. PVPL to Amortised cost c. Amortised cost to FVOCI-mandatory Requirement: Prepare jounal entries

Q: CH Holdings Inc has net earnings of $5,456,000 for the year ended 31.December 20X5. It has…

A: computing basic and diluted EPS Basic EPS= ($5456000) /$1500000  Basic EPS=$ 3.637 per Share Dilute…

Q: On January 1, Year 1 Naririto Company purchased P100,000 face value 5-year bond of Wolf Corp for…

A: SOLUTION  A JOURNAL ENTRY RECORDS A BUSINESS TRANSACTION IN ACCOUNTING SYSTEM FOR AN ORGANIZATION.

Q: to the text On July 1, 2020, Kabir Company, a private company, decided to buy $283,000, 3% 13-year…

A: The bonds are the financial instruments used to raise money from the market or for other investment…

Q: On

A:

Q: On February 1, 2018, Cromley Motor Products issued 9% bonds, dated February 1, with a face amount of…

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

Q: On January 1, Year 1 Navara Company purchased P100,000 face value 5-year bond of Wolf Corp for…

A: SOLUTION  A JOURNAL IS A COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTIONS ARE RECORDED IN…

Q: Q1. What is the carrying value of the bonds on December 31, 2019? a. 5,306,515 b. 5,309,000 c.…

A: Under the Effective interest method, the premium on the issue of bonds shall be written off over the…

Q: On July 1, 20x1, Santa Co. acquires P2,000,000 face amount, 10% bonds for P2,000,000 and classifies…

A: The question asked about the balance recorded in Other comprehensive income (OCI) and amount…

Q: On January 1, 2020, Trader Company issued its 8%, 4 year convertible debt instrument with a face…

A: Annual Interest = Face value of debt instrument  x rate of interest x no. of months/12 = P6,000,000…

Q: Canter Corp. purchased five $1,000 8% bonds of Circuit Corporation when the market rate of interest…

A: Present value interest factor(PVIF) and Present Value Interest factor Annuity(PVIFA) are the rates…

Q: On January 1, 20x1, Dagul Co. acquired 10%, ₱4,000,000 bonds for ₱3,807,853. The principal is due on…

A: Amortization of bonds: When bonds are purchased at more or less than the face value, the difference…

Q: On January 1, 2010, Rambutan Corporation purchased debt securities for cash of P765,540. The…

A: Rambutan Corporation purchased debt securities at P765,540 which carries the interest rate of 10%…

Q: How much is the gain (loss) on reclassification on January 1, 20x2?

A: Amortization of bonds: When bonds are purchased at more or less than the face value, the difference…

Q: On January 1, 2020, Trader Company issued its 8%, 4 year convertible debt instrument with a face…

A: Annual Interest = Face value of debt instrument  x rate of interest x no. of months/12 = P6,000,000…

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

A:

Q: On January 1, 20x1, SPEED Company purchased 12% bonds, having a face value of P800,000. The bonds…

A: Bond is an investment security which is issued by large organizations to raise the fund. The bond…

Q: On December 31, 2021, Glimmer Company had outstanding P3,000,000 8% convertible bonds that mature on…

A: Requirement: conversion of bond into ordinary shares and asked to calculate share premium as a…

Q: On January 1 , 2021, Gray Co. issued its 10%, 4-year convertible debt instrument with a face amount…

A: Answer -  Calculation of balance of the unamortized premium on debt instrument as of Dec. 31, 2021 -…

Q: Adonis Corporation issued 10-year, 9% bonds with a par value of $180,000. Interest is paid…

A: Bonds are a form of loan or debt that is being issued by the corporation, on which regular interest…

Q: On January 1, 2020, Andrea Company purchased bonds with face value of P8,000,000 for P7,679,000. The…

A: The amortization of bond is to be done in order to pay down the principal on debt regularly in…

Q: On January 1, 20x1, Kindess Čo. issued 3- year, 10% P2,000,000 convertible bonds for P2,200,000.…

A: Retirement of Bonds: The Retirement of Bonds refers to the cancellation of bonds due to their…

Q: Metro Company purchased $500,000, 10%, 5-year bonds on January 1, 20x1, with interest payable on…

A: Bonds are the financial instruments that are used by an entity to borrow funds from the financial…

Q: On January 1, 20x1, Sina Co. acquired 10%, ₱4,000,000 bonds for ₱3,807,853. The principal is due on…

A:

Q: On January 1, 2020, Safety Company issued 10,000 P1,000 bonds with 10% stated interest payable every…

A: 3.How much is the net increase/decrease in the Shareholders' Equity during 2021? [Indicate whether…

Q: Williams Company issued $600,000 of 10%, 5-year bonds. Interest is paid semiannually, and the…

A: Issue price of bonds = (face value of bonds x present value of $ 1 at market interest rate for the…

Q: Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $120 million of 6% bonds, dated…

A: Solution 1 to 3:       Journal Entries -  Fuzzy Monkey Technologies Inc. Event Date Particulars…

Q: Mae Jong Corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of…

A: Bonds: Bonds are debts instruments issued by corporates. Bonds are issued at par, premium and…

Q: uzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated…

A:

Q: On January 1, Year 1, Narito Company purchased P100,000 face value 5-year bond of Wolf Corporation…

A: Impairment Loss Impairment can happen as a consequence of one-time or unique occurrences, such as a…

Q: On January 1, the company issued $2.5 million of six-year, zero-interest-bearing notes along with…

A: On 01.01, Company issued 6 year, 0% Notes = $2.5 million Along with Warrants to buy common shares =…

Q: On January 1 , 2021, Gray Co. issued its 10%, 4-year convertible debt instrument with a face amount…

A: Above question is based on Compounded Financial Instrument. In these type of instrument, two…

Q: On July 1, 2012, Insta Inc. issues $3,000,000 face value seven-year bonds with annual interest…

A: >Bonds Payable issued are the source of finance for the businesses.>The investors of these…

Q: ABC Co. is contemplating on investing on 12%, 3-year p1,000,000 bonds. Pricipal is due at maturity…

A: Introduction: Bonds are debt securities issued by a company to raise capital. The major difference…

Q: On January 1, 2020, Trader Company issued its 8%, 4 year convertible debt instrument with a face…

A: Annual Interest = Face value of debt instrument  x rate of interest x no. of months/12 = P6,000,000…

Q: 11%. Patton Company uses the effective-interest method and plans to hold these bonds to maturity. 1.…

A: since there is 2 multiple question we solve first for as per our honor.     Patton Company purchased…

Q: On January 1, 20x1, Dagul Co. acquired 10%, P4,000,000 bonds for P3,807,853. The principal is due on…

A: Date Amount collected Interest Amortization Present value 01.01.20x1 0     3807853 31.12.20x1…

Q: On January 1, the Ryan Company issued $400,000 of 6%, 6-year bonds when the market rate of interest…

A: The cash collected from the issue of bonds is referred to as bond proceeds.

Q: On February 18, 2018, Union Corporation purchased 10,000 shares of IBM bonds as a long-term…

A:

Q: The Wilfred Company sold 8% bonds, dated January 1, with a face amount of $90 million on January 1,…

A: Issue Price of the bonds = Present value of principal + Present value of interest payments = face…

Q: On January 1, 20x1, Etsy Co. purchased 10%, P4,000,000 bonds for P4,171,968. The bonds are…

A:

Q: On January 1, 20x1, Dagul Co. acquired 10%, P4,000,000 bonds for P3,807,853. The principal is due on…

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

Q: On 1 June 20X8, Ghana Company purchased $7,400,000 of Monaco Corp. 5.70% bonds, classified as a…

A: The securities in which money is invested to get fixed periodic payment and a specific amount of…

Q: Stave Company invests $10,000,000 in 5% fixed rate corporate bonds on January 1, 2020. All the bonds…

A: Journal entry is a record of financial transaction in the books of accounts of an organization. It…

Q: Tamarisk Corporation issued 20-year, $10,500,000 face value, 9% convertible debentures on January 1,…

A: The question is based on the concept of Financial Accounting.

Q: On January 1, Year 1 Naririto Company purchased P100,000 face value 5-year bond of Wolf Corp for…

A:

Q: Oriole Inc. issued $6 million of 10-year, 10% convertible bonds on June 1, 2020, at 99 plus accrued…

A: SOLUTION  A JOURNAL IS AN COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTION ARE RECORDED IN…

Q: Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated…

A:

Q: On June 30, 2013, Riverbed Limited issued 11.75% bonds with a par value of $761,000 due in 20 years.…

A: Bond: It is a monetary instrument issued  by  corporation  and interest is paid to investors.…

Q: Fuzzy Monkey Technologies, Inc., purchased as a short-term investment $70 million of 6% bonds, dated…

A: Step 1: Journal entries:

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.