Question Related data of John-j Company:                                    Face amount P2,550,000         Nominal rate 12%        Effective rate 14%        Date of issue January 1, 2021               Annual payment every December 31 P850,000 (Principal and interest)           Interest is payable annually December 31     The entity used 3 decimal places for the PVF.          Required: What is the present value of the bonds payable on January 1, 2021?

Q: CHINA Corporation, on January 1, 2021, issued 30,000, 10%, P100 bonds for P2,900,305. Principal…

A: As per effective interest method, the amount of interest expense correlates with the carrying value…

Q: Current Attempt in Progress On January 1, 2018, Sheffield Corporation issued $5100000, 10-year, 8%…

A: Issue price of bond = Face amount * 103% = $5,100,000*103% = $5,253,000

Q: Determine the following (Round off present value factors to four decimal places.…

A: Bonds: A bond is an instrument that helps a firm in raising and fulfilling capital requirements. It…

Q: onds payable with a face amount of $80,000 when the market interest rate was 8.5%. Mo 1 and July 1.…

A: CALCULATION OF ACCRUAL OF INTEREST EXPENSE AMOUNT : = $80,000 X 8.5% X 6/12 = $3,400…

Q: At the beginning of current year, Samal Company Issued P5,000,000 8% serial bonds, to be repaid in…

A: The correct answer for the above mentioned question is given in the following steps for your…

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: PANGILINAN Company issued 3-year, 12% bonds with face amount of ₱4,000,000. Interest is payable…

A: solution : given: face vale            =4000000 interest payable            = semiannually interest…

Q: On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par.…

A: One of the sources used by the business entities to raise their share capital is the issue of debt…

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A: Given information, 10 per cent interest on bonds payable Face amount= P6,000,000. Yield =12%

Q: On January 1, 2021, Toit Company issued a 10-year 9% bonds payable of P10,000,000 for a market rate…

A: Present value of bond:-

Q: on january 1,2018 naperville corporation issued 2300,000 16% 5 year bonds wirh interest payable on…

A: Interest payment  = $2,300,000*16%*6/12 Interest payment  = $184,000

Q: BC Corp. issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31…

A: Working:

Q: On January 1, 2020, Davao Company issued 6% bonds with 3. What is the carrying amount of the bonds…

A: Introduction Dear student as per guideline we will solve first three subparts for you please ask…

Q: Sealy Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2021, at 97. The journal…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Sheffield Company sells  10% bonds having a maturity value of $ 1,300,000 for $ 1,206,280. The bonds…

A: Annual interest payment = face value of bonds x rate of interest x no. of months/12 = 1,300,000 x…

Q: On March 1, 2021, Pyramid Company issued 10% bonds Problem 6-10 (IAA) payable with face amount of…

A: Under effective interest method the current price of the bond is the present value of all cash…

Q: Alyssa Company issued P 10,000,000 bonds on January 1, 2021. The bonds pay interest annually at 10%…

A: Computation of present value of bonds as on December 31, 2021:

Q: Culver Corporation issued 2,800 9%, 7-year, $1,000 bonds dated January I, 2022, at face value.…

A: A journal entry is being used to record a commercial transaction in the accounting records of a…

Q: DONNER Company issued 3-year, 12% bonds with face amount of #4,000,000. Interest is payable semi-…

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

Q: Problem 4: DONNER Company issued 3-year, 12% bonds with face amount of ₱4,000,000. Interest is…

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

Q: On March 1, 2021 Lesley Company issued at 103 plus accrued interest 4,000 of 9% P1,000 face value…

A: Solution: Accrued interest on Bond = 4,000*P1,000*9%*2/12 = P60,000 Proceed from issue of bond =…

Q: BC Corp. issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31…

A: A bond refers to the instrument which is issued by the government to borrow money when needed. It is…

Q: QO Company issued P5,000,000, 12% bonds, on July 1, 2014 at 96. The bonds will mature on July 1,…

A: Face value of bonds P50,00,000 Amount Received July 1, 2014 (P5000000 * 96%) P48,00,000 Discount…

Q: Question 18 - Journalize the following transactions • AB Corporation issues $5,000,000 of 5 year, 6%…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: 1.On January 1, 2020, Chespin Co. issued 3-year bonds with a face value of P1,200,000 and stated…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Problem 4: DONNER Company issued 3-year, 12% bonds with face amount of P4,000,000. Interest is…

A: The bonds are issued at premium when market rate is higher than the face value of bonds.

Q: On March 1, 2006, Cain Company issued at 103 plus accrued interest 4,000 of its 9% P1,000 face value…

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

Q: MAUNLAD Co., issued 12%, P1,000,000, 3-year bonds for P1,103,084 amount on January 1, 2021.…

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

Q: BMT Company issued P5,000,000, 12%, 20-year bonds at 102 plus accrued interest on February 1, 2021.…

A: Accrued interest on the bonds company collect from the investor on February 1, 2021 = Face value of…

Q: On January 1, 2021, Solo Inc. issued 1,300 of its 8%, $1,000 bonds at 97.7. Interest is payable…

A: The carrying value of the bond as on December 31, 2021 = Net Proceeds + First year discount…

Q: Instructions On January 1, the first day of the fiscal year, a company issues a S300.000, 9%,…

A: Bonds payable = $ 300000 Semi - annual Interest  = 300000 * 9% *1/2 = $ 13500

Q: On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par…

A: Formula: Interest expense = Bond amount x Interest rate x Time period

Q: Grocery Corporation received $316,189 for 9.00 percent bonds issued on January 1, 2021, at a market…

A: The answer of the above question is in the Next Step