The balance sheet of River Electronics Corporation as of December 31, 2023, included 13.25% bonds having a face amount of $90.4 million. The bonds had been issued in 2016 and had a remaining discount of $3.4 million at December 31, 2023. On January 1, 2024, River Electronics called the bonds before their scheduled maturity at the call price of 104.

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A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: On January 1, 2020, MNOCompany issued its 9%, P2 million bonds, which mature on January 1, 2030. The…

A:

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A: GIVEN   On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $60 million,…

Q: The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 12.25%…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: On January 1, 2013, JetNew Corp. issued $300,000 of 8%, 5-year bonds, with annual interest payments…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

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A: Solution:The query involves a situation where Patey Pontoons releases bonds on January 1, 2024, with…

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A: Bond Issued = 8% or 4% SemiannuallyBonds were priced to yield = 10% or 5% Semiannually Calculation…

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A: Bonds Payable: A bond payable is the long-term liability shown in the balance sheet that needs to be…

Q: On January 1, 2024, Instaform, Incorporated, issued 10% bonds with a face amount of $48 million,…

A: "Bonds" refer to debt securities that are typically issued by corporations, governments, or other…

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 July 1, 2014, Oladipo Corporation issued 11% bonds in the face amount of P2,000,000 that mature…

A: Carrying  value  is present value of future  cash flows discount @5%(10/2)

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A: Issue price of a bond means the price at which the bond is issued. It can be issued at par, premium…

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A: Solution: Bond price is computed as present value periodic interest and maturity amount discounted…

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A: Bonds is an investment security in which investors invest amount in exchange of regular interest…

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A: Cash flow statement is one of financial statements includes three activities.Cash flow from…

Q: On January 2, 2012, Halcon Company issued 9% bonds in the amount of P8,000,000 which mature on…

A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.

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A: When the issue price of the bond is higher than its face value, the bonds are said to be issued at a…

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A: Bonds meaning:- Bonds are debt securities or financial instruments issued by governments,…

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

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A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

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Q: On January 1, 2018, Oman Cables Industry (SAOG) issued 12% bonds dated January 1, 2018, with a…

A: Bonds are the debts for the company issued to the investors at fixed rate of interest. There are…

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A: 1.

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A: Bonds payable is a type of instrument where by an amount is borrowed for a fixed period with fixed…

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A: 1.

Q: When Patey Pontoons issued 6% bonds on January 1, 2016, with a face amount of $600,000, the market…

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Q: The balance sheet of Rays Corporation as of December 31, 2022, included 10.25% bonds having

A: Total Debit to p&l = Discount on issue of debentures + Premium on redemption of Debentures.

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A: 1.Compute of bond price and record the journal entry as follows: Result:

Q: On January 1, 2018, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated…

A: 1.

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A: Issue Price of Bond=Present Value of Maturity amount+Maturity value of Interest payment   Present…

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A: The bonds refer to the debt instruments issued by corporations and government entities. When bonds…

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A: First interest payment will be made on July 1, 2014

Q: On May 1, 2016, Bench Co. issued 11% bonds in the face amount of P 1,000,000 that mature on May 1,…

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A: To answer above question, following bond amortization table will be compiled till 30 June, 2006:…

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A: Bonds are issued by companies and government entities to raise the required funds for meeting the…

Q: On January 1, 2016, Denver Inc. issued its 10% bonds in the face amount of P400,000, which mature on…

A: Please see Step 2 for required information.

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A: Bonds:A fixed-income generating instrument that represents the loan given by the investor to the…

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A: Determine present value of annuity amount (interest).

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A: Journal entries support recording the transaction in the books of accounts in a systematic manner.…

Q: On January 1, 2018, Oman Cables Industry (SAOG) issued 12% bonds dated January 1, 2018, with a…

A: The present value represents the present value of the bond that will be redeemed in the future.…

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

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.