On January 1, 2021, Jason Corp. purchased 5-year bonds with a face value of P10,000,000 and a stated interest rate of 12% per year collectible every December 31. The bonds were acquired to yield 11%. These bonds were classified based on business model of collecting contractual cash flows and to sell. On December 31, 2021 and December 31, 2022, the bonds were quoted at 104 and 102, respectively. At what amount should the investment be reported in its December 31, 2022 statement of financial position? Group of answer choices P10,200,000 P10,400,000 P10,000,000 P10,150,000

Q: On January 1, 2018, CHE Co. purchased 12% bonds, having a maturity value of P800,000, for P860,652…

A:

Q: Required: Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.)…

A: Issuance of bonds is one of the sources of financing, bonds are long-term debt for the company…

Q: On March 1, 2016, VICO Corporation issued at 103 plus accrued interest, 1,000 of its 9%, P1,000…

A: Bonds are a form of loan or debt that is being issued by the company, on which regular interest…

Q: Auerbach Inc. Issued 10% bonds on October 1, 2021. The bonds have a maturity date of September 30,…

A: Bonds are a form of debt or liability for the business, on which regular interest payments also…

Q: mine the price of the bonds at January 1, 2021. re the journal entry to record their issuance by…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: On January 1, 2023, Marigold Corporation purchased a newly issued $1,250,000 bond. The bond matured…

A: Bonds refer to the financial instrument issued by the bank or financial institution at a specified…

Q: On January 1, 2024, Ithaca Corporation purchases Cortland Incorporated bonds that have a face value…

A: Bond is a financial instrument which can be issued at discount, at par or at premium depending on…

Q: nterest at 6% every June 30 and December 31. The market interest rate 31, and the company had the…

A: The amortization cost model provides insight into how bond prices change over time due to the…

Q: In the google form, provide the interest income to be recorded on that same day.

A: On 01.01.2021, ABC purchased bonds and total face value = P6000000 Interest rate = 8% payable every…

Q: On January 1, 2024, Martin Company issued $5,000,000, 10% bonds.  Interest is payable semi-annually…

A: A financial table that shows the periodic payments and the distribution of principal and interest…

Q: On January 1, 2020, MIRANA COMPANY issued Php 15M bonds that is due on December 31, 2029. The bond…

A: Value of the bond= 1,50,00,000 Time = 11 years Sinking fund deposit = half yearly  Rate of interest…

Q: Braburt Co. issued $700,000 worth of six-year, five percent bonds on January 1st, 2021. Interest is…

A: A bond is a document of the bond issuer's obligation to the bondholders. Municipal bonds and bond…

Q: ld Corp. uses the amortized cost method (effective interest method) when accounting for debt…

A: Bond is that debt instrument which is used by the organization to finance its long term fund needs,…

Q: On August 1, 2021, Excel Company purchased at par P5million bonds with stated interest rate of 12%…

A: Lets understand the basics. We all know that bond can be purchased at the issue time or at mid of…

Q: On January 1, 2021, GLITTER Company issued 10% bonds dated January 1, 2021 with a face amount of…

A: Solution a: Computation of bond price Table values are based on: n= 12     i= 7.00%…

Q: On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $165…

A: 1. Compute amount of bonds report in its balance sheet as shown below:     Working note:   Compute…

Q: On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $52 million, dated…

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: On January 1, 2021, Bishop Company issued 10% bonds dated January 1, 2021, with a face amount of $20…

A: Coupon rate = 10%Face amount = $20,000,000Yield = 12%Maturity = 20 yearsTo find: The amounts…

Q: On February 1, 2021, Cromley Motor Products issued 9% bonds, dated February 1, with a face amount of…

A:

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,400 million on…

A: Bonds refer to the borrowing security issued by the company to raise funds from the market by making…

Q: Agee Technology, Incorporated, issued 9% bonds, dated January 1, with a face amount of $1,300…

A: A cash flow statement is a type of financial statement that details a company's inflows and outflows…

Q: On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $53 million, dated…

A: The bond is priced at the discounted value of all the future cash flows of the bond at the market…

Q: Claremont Inc. issued a $400,000 bond on January 1, 2020. The bond had a five-year life and an 8%…

A: A bond is an instrument of an indebtedness to the holders of bond issuer in finance. The most…

Q: Jordan Company issues €50,000,000, 7.8%, 20-year bonds to yield 8% on July 1, 2018. Interest is paid…

A: Bonds are the debt security which is offered or issued by the corporates or the government to…

Q: interest inco

A:

Q: Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30,…

A: Face value of bonds: $425,000,000 Issued Bonds: $361,772,495 Effective interest rate: 6% Interest…

Q: Sheridan Industries, Inc. issued $17,400,000 of 8% debertures on May 1, 2024 and received cash…

A: The objective of the question is to calculate the total dollar amount of discount or premium…

Q: On January 1, 2015, Roosevelt Company purchased 12% bonds having a maturity value of $500,000 for…

A: The premium paid or discount received from the bond issue or investment in the bond. The premium…

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $400 million on July…

A: Journal Entries at the time of issuance of bonds: Date    Account title Debit Credit July 1.…

Q: P642,007.30 in b

A: Introduction Present value of bond:-

Q: On January 1, 2021, Bicol Company issued 5-year bonds with face value of P 10,000,000 at 95. The…

A: Working notes :-…

Q: Claremont Inc. issued a $400,000 bond on January 1, 2020. The bond had a five-year life and an 8%…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: On Jan. 1, 2021, ABC bought serial bonds with a face value of P2,400,000 for P2,160,000 cash. The…

A: Given: The value includes face value of P2,400,000 for P2,160,000 cash. It will be paid in…

Q: On January 1, 2023, Larkspur Corporation purchased a newly issued $1,500,000 bond. The bond matured…

A: Amortization schedule refers to the statement used for detailing the beginning, ending balance,…

Q: On January 1, 2021, GLITTER Company issued 10% bonds dated January 1, 2021 with a face amount of…

A: Half year coupon rate=10%2=5%

Q: A company purchased bonds on July 1, 2024, for $193,404. This price represents a market rate of 9%…

A: The objective of the question is to determine the amount that the company would report for its…

Q: On March 1, 2021, FLAXSEED Inc. issued at 97, including accrued interest, 2,550 of its 10%, ₱1,000…

A: Bonds are a form of debt or loan that is issued by the corporation, on which interest needs to be…

Q: On January 1, 2023, Marin Corporation purchased a newly issued $1,325,000 bond. The bond matured on…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: On January 1, 2021, Canada Corp. purchased bonds with a face value of P7,500,000 and a stated…

A: Purchase Price of Bond: The price of a bond is the current discounted value of the future cash flow…

Q: On January 1, 2023, Marigold Corporation purchased a newly issued $1,250,000 bond. The bond matured…

A: Bond price is the current market value of a bond, determined by discounting all its future cash…

Q: A company holds a $100,000 face value corporate bond, bought January 1, 2023, paying 3% annually on…

A: Under the Amortized Cost method, Interest is Booked in books using the Effective Interest Rate, and…

Q: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,300 million on…

A: Statement of cash flow under indirect method requires adjustment for Non cash items.  In case of…

Q: Myriad Solutions, Inc. issued 10% bonds, dated January 1, with a face amount of $320 million on…

A: 1.Net amount of liability reported in balance sheet of December 31,2021:

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.