HW8

Question 1: The entry to correct the interest income for 2022 includes a debit tothe investment account of how much?  Question 2: How much is the amortization for 2023? Question 3: how much is the gain or loss on sale as of December 31, 2022?

Hi, I am running into issues on part two of this question... Please walk me through how to find each individual section.    Thank you,

Required information Problem 15-3A (Algo) Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3 [The following information applies to the questions displayed below] Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Company A bonds Company B notes $530,700 159,250 Fair Value $ 495,000 151,000 647,710 Company C bonds 661,000 Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 Sold one-half of the Company B notes for $78,000. July 6 Purchased Company X bonds for $123,600. November 13 Purchased Company Z notes for $267,900. December 9 Sold all of the Company A bonds for $518,300. Fair values at December 31 are B. $84,300; C, $604,800, X, $100,000, and Z, $288,000. Problem 15-3A (Algo) Part 1 and 2

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еВook Premium Amortization on Bond Investment and Partial Sale of the Investment Using the Effective Interest Method Instructions Chart of Accounts General Journal Problem 13-1 Content Area Instructions On January 1, 2019, Hyde Corporation purchased bonds with a face value of $300,000 for $308,373.53. The bonds are due June 30, 2022, carry a 13% stated interest rate, and were purchased to yield 12%. Interest is payable semiannually on June 30 and December 31. On March 31, 2020, in contemplation of a major acquisition, the company sold one-half the bonds for $159,500 including accrued interest; the remainder were held until maturity. Required: Prepare the journal entries to record the purchase of the bonds, each interest payment, the partial sale of the investment on March 31, 2020, and the retirement of the bond issue on June 30, 2022. Check My Work

During the course of your examination of the financial statements of Sunland Corporation for the year ended December 31, 2025, you found a new account, "Investments." Your examination revealed that during 2025, Sunland began a program of investments, and all investment-related transactions were entered into this account. Your analysis of this account for 2025 follows: Date-2025 Feb. 14 July 26 Sept. 28 Apr. Oct. 28 30 Sunland Corporation Analysis of Investments Account For the Year Ended December 31, 2025 (a) Blossom Company Common Stock Purchased 3,900 shares @ $66 per share. Received 390 shares of Blossom Company common stock as a stock dividend. (Memorandum entry in general ledger.) Sold the 390 shares of Blossom Company common stock received July 26 @ $70 per share. (b) Daniel Inc. Common Stock Purchased 18,100 shares @ $42 per share. Received dividend of $1 per share. Debit $257,400 $760,200 Credit $27,300 $18,100

Problem 1: An entity purchased 12% P1,000,000 face amount bonds at 105 plus accrued interest on February 1, 2019. Interest is payable semi-annual on April 1 and October 1. Bonds are dated April 1, 2018 and matures on April 1, 2023. Required: Compute for the initial cost of investment in bonds account. Problem 2: An entity purchased 12% P1,000,000 face amount bonds at 105 on February 1, 2019. Interest is payable semi-annual on April 1 and October 1. Bonds are dated April 1, 2018 and matures on April 1, 2023. Required: Compute for the initial cost of investment in bonds account. Problem 3: On January 2, 2019 an investor acquired P1,000,000 face value bonds, dated January 2, 2019 and will mature in 3 years and bear 12% interest payable annually every December 31. The bonds will yield an effective interest of 10%. Required: 1. Compute for the market value (purchase price) of the bonds. 2. Compute for the amortization of the bond discount/premium using straight-line method of amortization.…

Problem #4 On January 1, 2019, Gurl Company purchased as a long term investment P5,000,000 face amount of Lulu Company’s 8% bonds for P4,562,000. The bonds were purchased to yield 10% interest. The Bonds mature on January 1, 2024 and pay interest annually on December 31. The interest method of amortization is used. What amount should be reported as interest income for year 2020? What is the carrying amount of the bond investment on December 31, 2020?

Question Content Area The following information relates to the Davensmith Company: Interest payable, beginning of period $ 60 Bond discount amortization, end of period 40 Interest payable, end of period 10 Total interest expense reported on the income statement 850 Bond discount amortization, beginning of period 70 What was the amount of interest paid? $820 $870 $830 $850

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 $575,210. The annual market rate is 6% on the issue date. Required: 1. Calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table for the bonds' life. 3. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the total bond interest expense over the bonds' life. Total bond interest expense over life of bonds: Amount repaid: payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense

Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31,2022

#6 answer only SUB PARTS Recording Entries for TS—Effective Interest Method Adjust FVA at Year-End On July 1, 2020, West Company purchased for cash, twelve $10,000 bonds of North Corporation at a market rate of 6%. The bonds pay 5% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as trading securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discounts or premiums. Ignore income taxes.  a. Prepare a bond amortization schedule for the life of the bonds using the effective interest method. Note: Round each amount entered into the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. Adjust market interest in the final year of the bond term for any net rounding difference. Date StatedInterest MarketInterest DiscountAmortization BondAmortized Cost Jul. 1, 2020       Answer Jan. 1, 2021 Answer Answer…

Fnanciol ACCOunting Chapter 11 Page 32 12. On Juy 1,2020, Ward Company purchased 5,000 of the P1000 face value,o bonds of Jury Company for P4,614,000 to yiekd 10% per annum. The bonds,WN mature on JUly 1,2025, poy interest semiannually on Janvary 1 and JDIY 1. Wara Uses the interest method of amortization and the bonds are appropriarey Tecorded as an investment at amortized cost. The bonds should be reponed i Ward's December31,2020 statermentof financialpositionnat Q. 4,583,300 b,4న44,700 C. 4,675400 d. 4,969,300 106 0000 foce voue of Show

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АССТ 3113 Supplemental Homework 10 Chapter 12 Accounting for accrued interest on bonds In 2021 and 2022, Norman Company had the following transactions related to investments in bonds. 2021 Purchased $400,000 of 8% bonds issued by JS, Inc. at face value. Interest is payable semiannually on September 30 and March 31. Purchased $500,000 of 12% bonds issued by Okla Co. at face value. Interest is payable semiannually on November 30 and May 31. Received semiannual interest payment from JS, Inc. Received semiannual interest payment from Okla Co. Recorded any necessary adjusting entries relating to the investments. Apr. 1 June 1 Sept. 30 Nov. 30 Dec. 31 2022 Received semiannual interest payment from JS, Inc. Received semiannual interest payment from Okla Co. Received semiannual interest payment from JS, Inc. Received semiannual interest payment from Okla Co. Recorded any necessary adjusting entries relating to the investments. Mar 31 May 31 Sept. 30 Nov. 30 Dec. 31 Requirement 1: a. Record the…

g 2021 Question 6 of 17 -/1 View Policies Current Attempt in Progress On October 1, 2020 Swifty Corporation issued 4%, 10-year bonds with a face value of $6000000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. The entry to record the issuance of the bonds would include a credit of O $120000 to Interest Payable. O $240000 to Discount on Bonds Payable. O $240000 to Premium on Bonds Payable. O $5760000 to Bonds Payable. Save for Later Attempts: 0 of 1 used Submit Answer MacBook Air

Prepare a schedule of interest expense and bond amortization for 2025-2027. (Round answer to 2 decimal places, e.g. 38,548.25.) Date 1/1/25 $ 12/31/25 12/31/26 12/31/27 Cash Paid Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method $ Interest Expense $ Premium Amortized $ Carry Value of