Journal entry worksheet < 1 2 3 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Date January 01 Note: Enter debits before credits. General Journal Debit Credit >

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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…

Bond Investment TransactionsJournalize the entries to record the following selected bond investment transactions for Starks Products:For a compound transaction, if an amount box does not require an entry, leave it blank.a. Purchased for cash $72,000 of Iceline, Inc. 9% bonds at 100 plus accrued interest of $1,080, paying interest semiannually.                 b. Received first semiannual interest payment.                 c. Sold $48,000 of the bonds at 103 plus accrued interest of $550.

Question Content Area On the first day of the fiscal year, a company issues a $980,000, 8%, 5-year bond that pays semiannual interest of $39,200 ($980,000 x 8% × 1/2), receiving cash of $884,177. Journalize the entry for the issuance of the bonds. If an amount box does not require an entry, leave it blank. blank

Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Daan Corporation issued $1,700,000 of 4-year, 11% bonds at a market (effective) interest rate of 9%, receiving cash of $1,812,130. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 2016. For a compound transaction, if an amount box does not require an entry, leave it blank. Interest Expense- b. Journalize the entry to record the first interest payment on October 1, 2016, and amortization of bond premium for six months, using the straight-line method. The bond premium amortization is combined with the semiannual interest payment. (Round to the nearest dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank. c. Why was the company able to issue the bonds for $1,812,130 rather than for the face amount of…

< Compute bond proceeds, amortizing premium by interest method, and interest expense Ware Co. produces and sells motorcycle parts. On the first day of its fiscal year, Ware issued $29,000,000 of three-year, 10% bonds at a market (effective) interest rate of 9%, with interest payable semiannually. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet Compute the following: a. The amount of cash proceeds from the sale of the bonds. Round your answer to the nearest dollar. $ b. The amount of premium to be amortized for the first semiannual interest payment period, using the interest method. Round your answer to the nearest dollar. $ c. The amount of premium to be amortized for the second semiannual interest payment period, using the interest method. Round your answer to the nearest dollar. $ d. The amount of the bond interest expense for the first year.…

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Need help with #28

The maturity value of a $183,600, 11%, 40-day note receivable dated July 3 is a.$185,844 b.$183,600 c.$192,576 d.$203,796