Use Exhibit 20-5, Corporate Bond Quotation Table, to find the information for the corporate bond.VERIZON COMMUNICATIONS INCask price in dollars $ File Edit View Hiştory Bookmarks Tools HelpWA 20-exhibit-5.pdf+https://www.webassign.net/brecmbc9/20-exhibit-5.pdfQ Search个|↓- + Automatic Zoom>>1of 1EXHIBIT 20-5 Corporate Bond Quotations-selected from Fidelity.com(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)RatingBidAskYield toPricePrice Worst/Maturity Next CallDateDateQtyYield (min)Qty(min)Yield to Yield toDescriptionCouponMoody's S&PSink MaturityBLACK HILLS CORP3.15001/15/2027 07/15/2026 BAA2ВВ4.28292.053 92.8104.1694.169NOTE CALL MAKE250(5) 20(2)WHOLE3.15000% 01/15/2027BROADCOM CORP/3.87501/15/2027 10/15/2026 BAA2BBB-4.73892.053 94.0834.7344.734BROADCOM250(5) 28(2)CAYMAN3.87500%01/15/2027 NOTE CALLMAKE WHOLECBS CORP NEW2.90001/15/2027 10/15/2026 BAA2ВВВ4.38489.630 89.9014.3424.342NOTE CALL MAKE500(10) 231(12)WHOLE2.90000% 01/15/2027COMCAST CORP NEW2.35001/15/2027 10/15/2026 A3A-3,89988.953 89,1233.8743.874NOTE CALL MAKE100(5) 261(2)WHOLE2.35000% 01/15/2027DUKE ENERGY FLA3.20001/15/2027 10/15/2026 A1A.3.61996.976 97.4983.5463.546LLC BOND CALL MAKE250(5) 50(20)WHOLE3.20000% 01/15/2027KRAFT HEINZ FOODS4.62501/30/2029 10/30/2028 BAA3ВВВ4.62899.965 100.1204.6094.609CONOTE CALL MAKE250(10) 500(10)WHOLE4.62500% 01/30/2029VERIZON3.55006/15/2029 06/15/2028 BAA1BBB+4.35093.137 94.9384.1334.133COMMUNICATIONS INC250(5) 5(5)3.55000% 06/15/2029 MTN12:55 PMO Type here to search耳 ||a12/17/2020

Bonds are traded on stock market and each bond have ask price that customers is ready to buy at this…

Answered: Use Exhibit 20-5, Corporate Bond…

Use Exhibit 20-5, Corporate Bond Quotation Table, to find the information for the corporate bond. VERIZON COMMUNICATIONS INC ask price in dollars $

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 105.7C

See similar textbooks

Similar questions

usiness FinanceQ&A LibraryPlease provide solutions and explanation. Thank you so much. 1. Use the following information for the next three questions: On January 1, 20x1, ABC Co. acquired 10%, ₱1,000,000 bonds for ₱827,135. The bonds mature on December 31, 20x3 and pay annual interest every December 31. ABC Co. incurred transaction costs ₱80,000 on the acquisition. The effective interest rate adjusted for the effect of the transaction costs is 14%. The bonds are to be held under a “hold to collect and sell” business model. Information on fair values is as follows: December 31, 20x1…………………………….98 December 31, 20x2……………………………102 December 31, 20x3……………………………100 How much is the carrying amount of the investment on December 31, 20x1? a. 935,134 b. 1,002,000 c. 980,000 d. 965,443 How much is the unrealized gain (loss) recognized in other comprehensive income on December 31, 20x1? a. 45,866 b. (45,866) c. (37,899) d. 0 How much is the interest income recognized in 20x2? a.…
ACCT 102 - Please do subparts A1 and A2 ONLY. A1 is two steps, first "record the accrual of bond interest expense for 4 months in 2021" A2 starts off exactly like this as well. However the second step of A1 is to "Record semiannual bond interest payment and interest expense for two months." A2 says "Record payment of bond interest on March 1st, 2022, under assumption bonds were issued at 101." ALL QUESTIONS MUST BE ANSWERED USING GENERAL JOURNAL
Journalize the entries to record the following selected bond investment transactions for Dip, Inc. You MUST use the accounts outlined in the Chapter 15 narrated PowerPoint presentations – the accounts in your textbook aren’t descriptive enough. Journal entry descriptions are not required. *(Must include all supporting calculations) Date Transaction Description 4/1/2022 Purchased for cash, $50,000 of Bump, Inc. 9% bonds at 100 plus accrued interest. The bonds pay interest on January 31st and July 31st. 7/31/2022 Received the semiannual interest payment. 10/31/2022 Sold $20,000 of bonds at 104 plus accrued interest. 12/31/2022 Accrued interest. 12/31/2022 Marked the debt investments to a market value of $34,000. The debt investments are classified as available for sale investments. 12/31/2023 Market the debt investments to a market value of $31,000. The debt investments are classified as available for sale investments.
3. Prepare the journal entries to record the issuance of the bonds by Sanyal and Barnwell’s investment on February 1, 2024. 4. Prepare the journal entries by both firms to record all events related to the bonds through January 31, 2026. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Brief Exercise 10-08 Metlock, Inc. issues $264,000, 10-year, 10% bonds at 99. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount
Brief Exercise 10-09 Oriole Company issues $325,000, 20-year, 7% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount Enter an account title enter a debit amount enter a credit amount
Question Content Area If $310,000 of 7% bonds are issued at 97, the amount of cash received from the sale is a.$331,700 b.$300,700 c.$310,000 d.$288,300
Locate and download Gap Inc.’s 2020 Annual Report (for fiscal year 2/2/20-1/30/21) https://investors.gapinc.com/financial-information/default.aspx Shareholder’s Equity At 2/1/20: How many shares of common stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ How many shares of preferred stock are: (a) authorized _______________ (b) issued _______________ (c) outstanding _______________ What was the amount of dividends paid to shareholders during 2020? _______________
Check my workCheck My Work button is now enabled1 Item 1 Item 1 1.5 points Item Skipped Tanner-UNF Corporation acquired as a long-term investment $180 million of 7.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $160.0 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $160.0 million. Required:1. & 2. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2021 and interest on December 31, 2021, at the effective (market) rate.3. At what amount will Tanner-UNF report its investment in the December 31, 2021, balance sheet?4. Suppose Moody’s bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the…
The following investment account was taken from the general ledger of One Dream Investment Company: Debt Investments - Fulfilled Dream 6% bonds (2,000,000 face value, due December 31, 2027) Date PR Debit Credit Balance January2, 2022 VR VR P1,812,300 P1,812,300 June 30, 2022 CRJ 60,000 1,752,300 Dec. 31, 2022 CRJ 60,000 1,692,300 Dec. 31, 2022 195,000 1,497,300 In the course of your examination, you obtained the following information: Interest checks were received on June 30 and December 31 and were credited to the investment account. One dream sold P200,000 of its investment on December 31, 2022 for P195,000. Effective interest rate on this investment, as computed by your audit staff, is 8%. (4% - semi annual) One Dream included this investment in a portfolio that is held to collect and for sale. The fair value at December 31, 2022 and 2023 is 97.5 and 105, respectively. How much is the gain or…
Need the answers asap! Thank you for help! Answer both the subparts a,b On December 31, 20x0, the Robin Corporation issues $5,000,000 of 5% bonds. The bonds are due on December 31, 20x10 and were issued to yield 4.6%. The bonds pay interest semi-annually on June 30 and December 31. Bond issue costs of $53,000 were incurred. Required – a) Prepare all journal entries relative to this bond issue for the years ended December 31, 20x0 and December 31, 20x1. b) Assume that on July 2, 20x7, Robin repurchases 45% of the bond issue at 105. Prepare the journal entry on July 2, 20x7. Also prepare the journal entry on December 31, 20x7.
Bond (Held-to-Maturity)Investment Journalize the entries to record the following selected bond investment transactions for Marr Products: If an amount box does not require an entry, leave it blank. a. Purchased for cash $180,000 of Hotline Inc. 5% bonds at 100 plus accrued interest of $1,500. Investments-Hotline Inc. Bonds fill in the blank 58d32df6c011fb9_2 fill in the blank 58d32df6c011fb9_3 Interest Receivable fill in the blank 58d32df6c011fb9_5 fill in the blank 58d32df6c011fb9_6 Cash fill in the blank 58d32df6c011fb9_8 fill in the blank 58d32df6c011fb9_9 Feedback a. Record the investment at face value. Interest that is receivable on the date of purchase must be recorded as well. b. Received first semiannual interest payment. Cash fill in the blank a853e5026064fa2_2 fill in the blank a853e5026064fa2_3 Interest Receivable fill in the blank a853e5026064fa2_5 fill in the blank a853e5026064fa2_6 Interest Revenue…