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On July 1, 2021, Rainbow issued $400,000 of 5% bonds, dated July 1. Interest is payable...
On July 1, 2021, Rainbow issued $800,000 of 5% bonds, dated July 1. Interest is payable semiannually on June 30 and December 31
On July 1, 2021, Rainbow issued $800,000 of 5% bonds, dated July 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in ten years. The market interest rate for bonds of similar risk and maturity is 8%. The entire bond issue was purchased by Jacklin, Inc. Due to unforeseen circumstances Jacklin decided to sell its debt investment for $650,000 on January 1, 2023, at which time the bonds have an amortized cost of $654,015. The...
Question 1 1 points Save Answer On July 1, 2021, Rainbow issued $500,000 of 4% bonds,...
Question 1 1 points Save Answer On July 1, 2021, Rainbow issued $500,000 of 4% bonds, dated July 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in ten years. The market interest rate for bonds of similar risk and maturity is 7%. The entire bond issue was purchased by Jacklin, Inc. Due to unforeseen circumstances Jacklin decided to sell its debt investment for $400,000 on January 1, 2023, at which time the bonds have...
On July 1,2021. James issued $1000 of 5% bonds, dated July 1. Interest is payable semiannually...
On July 1,2021. James issued $1000 of 5% bonds, dated July 1. Interest is payable semiannually on June 30 and Dec. 31. The bonds mature in ten years. The market interest rate for bonds of similar risk and maturity is 7%. The entire bond issue was purchased by Tom, Inc. Due to unforeseen circumstances Tom decide to sell its debt investment for $800 on Jan. 1,2023, at which time the bonds have an amortized cost of $850. The amount of...
60 points Rainbow Company issued 6% bonds, dated January 1, with a face amount of $800,000...
60 points Rainbow Company issued 6% bonds, dated January 1, with a face amount of $800,000 on January 1, 2021. The bonds sold for $661,665 and mature in 2035 (15 years). For bonds of similar risk and maturity the market yield was 8%. Interest is paid semiannually on June 30 and December 31. Assume Rainbow determines interest at the effective rate. Fiscal year ends on December 31. Answer the following questions 1. What is the amount related to the bonds...
Rainbow Company wed 6% bonds, dated January 1, with a face amount of $500,000 on January...
Rainbow Company wed 6% bonds, dated January 1, with a face amount of $500,000 on January 1, 2021. The bonds sold for 5661,665 and mature in 2035 (15 years) For bonds of similar risk and maturity the market yield was 8% Interest is paid semially on June 30 and December 31. Assume Rainbow determines interest at the effective rate Fiscal year ends on December 31 Answer the following questions 1. What is the mountated to the bonds that Rainbow will...
Miller Company issued 8% bonds, dated January 1, with a face amount of $1,000,000 on January...
Miller Company issued 8% bonds, dated January 1, with a face amount of $1,000,000 on January 1, 2021. The bonds sold for $846,278 and mature in 2035 (15 years). For bonds of similar risk and maturity the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Assume Miller determines interest at the effective rate. Fiscal year ends on December 31. Answer the following questions: 1. What is the amount related to the bonds that Miller...
rest; ries On February 1, 2021, Cromley Motor Products issued 9% bonds, dated February 1, with...
rest; ries On February 1, 2021, Cromley Motor Products issued 9% bonds, dated February 1, with a face amount of S80 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Barwell Industries acquired $80,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. Required: 1. Determine the price of the...
On February 1, 2021, Cromley Motor Products issued 6% bonds, dated February 1, with a face...
On February 1, 2021, Cromley Motor Products issued 6% bonds, dated February 1, with a face amount of $85 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $85,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. Required: 1. Determine the price of the bonds issued...
On February 1, 2021, Cromley Motor Products issued 8% bonds,dated February 1, with a face...
On February 1, 2021, Cromley Motor Products issued 8% bonds,
dated February 1, with a face amount of $75 million. The bonds
mature on January 31, 2025 (4 years). The market yield for bonds of
similar risk and maturity was 10%. Interest is paid semiannually on
July 31 and January 31. Barnwell Industries acquired $75,000 of the
bonds as a long-term investment. The fiscal years of both firms end
December 31.1. Determine the price of the bonds issued on
February...
Lance Brothers Enterprises acquired $545,000 of 5% bonds, dated July 1, on July 1, 2021, as...
Lance Brothers Enterprises acquired $545,000 of 5% bonds, dated July 1, on July 1, 2021, as a long-term investment Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Lance Brothers paid $465,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on...
Question 1 1 points Save Answer On July 1, 2021, Rainbow issued $500,000 of 4% bonds, dated July 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in ten years. The market interest rate for bonds of similar risk and maturity is 7%. The entire bond issue was purchased by Jacklin, Inc. Due to unforeseen circumstances Jacklin decided to sell its debt investment for $400,000 on January 1, 2023, at which time the bonds have...
60 points Rainbow Company issued 6% bonds, dated January 1, with a face amount of $800,000 on January 1, 2021. The bonds sold for $661,665 and mature in 2035 (15 years). For bonds of similar risk and maturity the market yield was 8%. Interest is paid semiannually on June 30 and December 31. Assume Rainbow determines interest at the effective rate. Fiscal year ends on December 31. Answer the following questions 1. What is the amount related to the bonds...
Rainbow Company wed 6% bonds, dated January 1, with a face amount of $500,000 on January 1, 2021. The bonds sold for 5661,665 and mature in 2035 (15 years) For bonds of similar risk and maturity the market yield was 8% Interest is paid semially on June 30 and December 31. Assume Rainbow determines interest at the effective rate Fiscal year ends on December 31 Answer the following questions 1. What is the mountated to the bonds that Rainbow will...
Miller Company issued 8% bonds, dated January 1, with a face amount of $1,000,000 on January 1, 2021. The bonds sold for $846,278 and mature in 2035 (15 years). For bonds of similar risk and maturity the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Assume Miller determines interest at the effective rate. Fiscal year ends on December 31. Answer the following questions: 1. What is the amount related to the bonds that Miller...
rest; ries On February 1, 2021, Cromley Motor Products issued 9% bonds, dated February 1, with a face amount of S80 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Barwell Industries acquired $80,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. Required: 1. Determine the price of the...
On February 1, 2021, Cromley Motor Products issued 8% bonds,
dated February 1, with a face amount of $75 million. The bonds
mature on January 31, 2025 (4 years). The market yield for bonds of
similar risk and maturity was 10%. Interest is paid semiannually on
July 31 and January 31. Barnwell Industries acquired $75,000 of the
bonds as a long-term investment. The fiscal years of both firms end
December 31.1. Determine the price of the bonds issued on
February...
Lance Brothers Enterprises acquired $545,000 of 5% bonds, dated July 1, on July 1, 2021, as a long-term investment Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Lance Brothers paid $465,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on...
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