On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000.
On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000. The GEH bonds pay o interest but were purchased when the market interest rate was e for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. National Retail accounts for the bonds as a held to maturity investment and uses the effective interest method in National Retail's annual income statement interest revenue will show
Homework Answers
| Bonds Par Value | 100,000 | |
| Interest Rate | 6% | |
| Interest on | ||
| 30th June | 3,000 | |
| 31st Dec | 3,000 | |
| Annual Interest Revenue | 6,000 | |
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On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000.
On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of...
On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000. The GEH bonds pay 6% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. National Retail accounts for the bonds as a held-to-maturity investment and uses the effective interest method. In National Retail’s annual income statement, interest revenue will show:...
On January 1, 2021, Rupar Retailers purchased $130,000 of Anand Company bonds at a discount of...
On January 1, 2021, Rupar Retailers purchased $130,000 of Anand Company bonds at a discount of $6,000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a discount of...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a discount of $5,000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
Jus Sive Answer On January 1, 2021. Rupar Retailers purchased $125,000 of Anand Company bonds at...
Jus Sive Answer On January 1, 2021. Rupar Retailers purchased $125,000 of Anand Company bonds at a discount of $5000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity The bonds pay interest semiannually on June 30 and December 31 of each year Rupar accounts for the bonds as a held-to-maturity Investment and uses the effective interest method in Rupai's December 31, 2021. journal entry to...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of $4,000. The Anand bonds pay 8% interest but were purchased when the market interest rate was 6% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
On January 1, 2021. Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of...
On January 1, 2021. Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of $3000. The Anand bonds pay 9% interest but were purchased when the market interest rate was 7% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year Rupar accounts for the bonds as a held to maturity Investment and uses the effective Interest method in Rupar's December 31, 2021. lournal entry to record...
On January 1, 2020, the Maxell Company purchased P400,00 of 6% term bonds. The bonds are dated January 1, 2020, and the interest is payable semiannually on June 30 and December 31. At the time the bonds were purchased the market interest rate was 8%. T
On January 1, 2020, the Maxell Company purchased P400,00 of 6% term bonds. The bonds are dated January 1, 2020, and the interest is payable semiannually on June 30 and December 31. At the time the bonds were purchased the market interest rate was 8%. The bonds mature on December 31, 2030. Maxell Company uses the effective interest method of amortization.Instruction: Determine the following:issue price of the bonds on January 1, 2020total amount of interest revenue for 2020book value of...
QUESTION: On January 1, 2020, the company purchased $100,000, 10% bond investment at $92,790 due in...
QUESTION: On January 1, 2020, the company purchased $100,000, 10% bond investment at $92,790 due in 5 years, with interest payable annually on December 31. The company classifies this investment as Held-to-Maturity. The company adopt the Effective Interest Method (i.e. Market Interest Rate = 12%) to amortize any discount or premium. Prepare journal entries at the following dates. If no entry is required, write "No entry is required." January 1, 2020, Purchase of Bond Investment: December 31, 2020, the first...
Question 6 (-12) Lang Corporation issued $600,000 of 8%, 10-year bonds on January 1, 2020, for...
Question 6 (-12) Lang Corporation issued $600,000 of 8%, 10-year bonds on January 1, 2020, for $560,975. This price provided a yield of 9% on the bonds. Interest is payable semiannually on June 30 and December 31. If Lang uses the effective-interest method, the amount of interest expense to record if financial statements are issued on December 31, 2020 should be: $50,544. (2) $49,448. * $48,685. 4 $48,000. Question 7 -- /2 Freedom Corporation buys and sells debt securities which...
On January 1, 2018, Rodgers Company purchased $300,000 face value, 10%, 3-year bonds for $292,506.75, a...
On January 1, 2018, Rodgers Company purchased $300,000 face value, 10%, 3-year bonds for $292,506.75, a price that yields a 11% effective annual interest rate. The bonds pay interest semiannually on June 30 and December 31. 2. Prepare an investment interest income and discount amortization schedule using the effective interest method. 3. Record the receipts of interest on June 30, 2018, and June 30, 2020.
On January 1, 2021, Rupar Retailers purchased $130,000 of Anand Company bonds at a discount of $6,000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a discount of $5,000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
Jus Sive Answer On January 1, 2021. Rupar Retailers purchased $125,000 of Anand Company bonds at a discount of $5000. The Anand bonds pay 7% interest but were purchased when the market interest rate was 8% for bonds of similar risk and maturity The bonds pay interest semiannually on June 30 and December 31 of each year Rupar accounts for the bonds as a held-to-maturity Investment and uses the effective interest method in Rupai's December 31, 2021. journal entry to...
On January 1, 2021, Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of $4,000. The Anand bonds pay 8% interest but were purchased when the market interest rate was 6% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second...
On January 1, 2021. Rupar Retailers purchased $120,000 of Anand Company bonds at a premium of $3000. The Anand bonds pay 9% interest but were purchased when the market interest rate was 7% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year Rupar accounts for the bonds as a held to maturity Investment and uses the effective Interest method in Rupar's December 31, 2021. lournal entry to record...
QUESTION: On January 1, 2020, the company purchased $100,000, 10% bond investment at $92,790 due in 5 years, with interest payable annually on December 31. The company classifies this investment as Held-to-Maturity. The company adopt the Effective Interest Method (i.e. Market Interest Rate = 12%) to amortize any discount or premium. Prepare journal entries at the following dates. If no entry is required, write "No entry is required." January 1, 2020, Purchase of Bond Investment: December 31, 2020, the first...
Question 6 (-12) Lang Corporation issued $600,000 of 8%, 10-year bonds on January 1, 2020, for $560,975. This price provided a yield of 9% on the bonds. Interest is payable semiannually on June 30 and December 31. If Lang uses the effective-interest method, the amount of interest expense to record if financial statements are issued on December 31, 2020 should be: $50,544. (2) $49,448. * $48,685. 4 $48,000. Question 7 -- /2 Freedom Corporation buys and sells debt securities which...
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