On July 1, 2023, AAA Company issued P1,198,000 of 10%, 20 year bonds with a face amount of P1,000,000. Interest is paid on December 31 and June 30. The bonds were sold to yield 8%. AAA uses the effective interest method to recognize interest expense from this amortized cost. What is the carrying amount of the bonds payable on December 31, 2023?

On January 1, 2022, Ehrlich Corporation issued 7%, 15-year bonds with a face amount of $4,800,000 .   Instructions Prepare the following entries: record the issuance of the bonds on 1/1/22, assuming the bonds were issued at 102 record the issuance of the bonds on 1/1/22, assuming the bonds were issued at 100 prepare the entry for the redemption of the bonds at maturity calculate the total cost of borrowing for these bonds, assuming they are issued at 100

Cullumber Company sold $2,000,000, 4%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Cullumber Company uses the straight-line method to amortize bond premium or discount. The bonds were sold at 101.   (c)     Prepare the journal entries for interest and the amortization of the premium in 2022 and 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022 enter an account title for the journal entry on december 31, 2022 enter a debit amount enter a credit amount   enter an account title for the journal entry on december 31, 2022 enter a debit amount enter a credit amount   enter an account title for the journal entry on december 31, 2022 enter a debit amount enter a credit amount…

Ellis Company issues 8.0%, five-year bonds dated January 1, 2021, with a $530,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $540,871. The annual market rate is 7.5% on the issue date. Required: 1. Compute the total bond interest expense over the bonds' life. 2. Prepare an effective interest amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments.  Please need answer for all with working please answer do not waste time or question by holding attempt if you can otherwise skip

Sandhill Company issued $690,000, 12%, 10-year bonds on December 31, 2021, for $620,000. Interest is payable annually on December 31. Sandhill Company uses the straight-line method to amortize bond premium or discount.

how to calculate this? thank you

On January 1, 2025, Entity D issued $1,000,000 of 7%, 5-year bonds at 98.  The bonds pay interest annually on December 31 and Entity D amortizes any premium or discount using the straight-line method.  What is the annual interest expense on the bonds? $66,000. $74,000. $4,000. $70,000.

Shaq Corporation issued $10,000 of 20-year bonds on January 1, 2024. The bonds pay interest semiannually. This is a partial bond amortization schedule for the bonds. Payment Cash Effectiveinterest Increase in balance Outstandingbalance                       9,080   1   400     409     9     9,089   2   400     409     9     9,098   3   400     409     9     9,107   4   400     410     10     9,117    What is the effective annual rate of interest on the bonds?

Aggies Inc. issued bonds with a $450,000 face value, 8% interest rate, and a 4-year term on July 1, 2018, and received $510,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of premium Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank. A.   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 B.   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15 C.

On May 1, 2023, ACT Company issued a 4-year,  P3,000,000 face value bonds with a stated rate of 10%.  The effective interest rate for similar bonds is 12%. Interest on the bonds is payable semi-annually on October 30 and April 30. ACT Company uses the calendar year as its reporting period. What is the carrying amount of the bonds on December 31, 2023? A What is the interest expense for the year 2024?B. What is the Discount on Bonds Payable to be reported in the Statement of Financial Position on December 31, 2025?