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 gain(loss) on sale of investment would be: ?
Homework Answers
Add Answer to:
On July 1,2021. James issued $1000 of 5% bonds, dated July 1.
Interest is payable semiannually...
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...
On July 1, 2021, Rainbow issued $400,000 of 5% bonds, dated July 1. Interest is payable...
On July 1, 2021, Rainbow issued $400,000 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 6%. The entire bond issue was purchased by Jacklin, Inc. Due to unforeseen circumstances Jacklin decided to sell its debt investment for $380,000 on January 1, 2023, at which time the bonds have an amortized cost of $373,670. 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 February 1,2021, Fox Corp. issued 9%bonds dated February 1,2021, with a face amount of $290000....
On February 1,2021, Fox Corp. issued 9%bonds dated
February 1,2021, with a face amount of $290000.
On February 1, 2021, Fox Corporation issued 9% bonds dated February 1, 2021. with a face amount of $290,000. The bonds sold for $265,121 and mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semiannually on July 31 and January 31. Fox's fiscal year is the calendar year. Fox uses the straight-line method of amortization. Required: 1....
Lance Brothers Enterprises acquired $725,000 of 2% bonds, dated July 1, on July 1, 2018, as...
Lance Brothers Enterprises acquired $725,000 of 2% bonds, dated July 1, on July 1, 2018, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 3% for bonds of similar risk and maturity. Lance Brothers paid $645,000 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...
Lance Brothers Enterprises acquired $605,000 of 3% bonds, dated July 1, on July 1, 2021, as...
Lance Brothers Enterprises acquired $605,000 of 3% 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 4% for bonds of similar risk and maturity. Lance Brothers paid $525,000 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...
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...
On January 1, James Corporation issued $400,000, 6%, 5-year bonds at 103. Interest is payable semiannually...
On January 1, James Corporation issued $400,000, 6%, 5-year bonds at 103. Interest is payable semiannually on July 1 and January 1. Straight-line amortization method is used. Instructions Prepare journal entries to record the (a) Issuance of the bonds. (b) Payment of interest on July 1, assuming no previous accrual of interest. Need to also show the entry of the amortization of the premium to interest. (c) Accrual of interest on December 31. Need to also show the entry of...
On 2 January 2016, Platinum Berhad issued 5 % bonds dated 1 January 2016, with a...
On 2 January 2016, Platinum Berhad issued 5 % bonds dated 1 January 2016, with a principal amount of RM100,000,000. The bonds will mature in 2035. On the issuance date, for bonds of similar risk and maturity, the market yield is 4%. Interest is paid semiannually on 30 June and 31 December. Compute the issuance price of the bond on 2 January 2016. Show all computations
On 2 January 2016, Platinum Berhad issued 5 % bonds dated 1 January 2016,...
Lance Brothers Enterprises acquired $665,000 of 3% bonds, dated July 1, on July 1, 2021, as...
Lance Brothers Enterprises acquired $665,000 of 3% 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 4 for bonds of similar risk and maturity Lance Brothers paid $585.000 for the investment in bonds and will receive interest semiannually on June 30 and December Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on July...
On July 1, 2021, Rainbow issued $400,000 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 6%. The entire bond issue was purchased by Jacklin, Inc. Due to unforeseen circumstances Jacklin decided to sell its debt investment for $380,000 on January 1, 2023, at which time the bonds have an amortized cost of $373,670. The...
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 February 1,2021, Fox Corp. issued 9%bonds dated
February 1,2021, with a face amount of $290000.
On February 1, 2021, Fox Corporation issued 9% bonds dated February 1, 2021. with a face amount of $290,000. The bonds sold for $265,121 and mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semiannually on July 31 and January 31. Fox's fiscal year is the calendar year. Fox uses the straight-line method of amortization. Required: 1....
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...
On 2 January 2016, Platinum Berhad issued 5 % bonds dated 1 January 2016, with a principal amount of RM100,000,000. The bonds will mature in 2035. On the issuance date, for bonds of similar risk and maturity, the market yield is 4%. Interest is paid semiannually on 30 June and 31 December. Compute the issuance price of the bond on 2 January 2016. Show all computations
On 2 January 2016, Platinum Berhad issued 5 % bonds dated 1 January 2016,...
Lance Brothers Enterprises acquired $665,000 of 3% 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 4 for bonds of similar risk and maturity Lance Brothers paid $585.000 for the investment in bonds and will receive interest semiannually on June 30 and December Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on July...
Most questions answered within 3 hours.
-
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 14 minutes ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 18 minutes ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 47 minutes ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 1 hour ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 4 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 5 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 5 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 5 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 5 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 5 hours ago -
A manufacturer of banana chips would like to know whether its
bag filling machine works correctly...
asked 5 hours ago -
Complete the chapter case, "Turnover Analysis".
Chapter Case
Turnover Analysis
You recently completed your company’s new...
asked 5 hours ago