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Aberdeen Ltd., which uses IFRS and has a December 31 year-end, issued a 5-year bond with a maturity amount or par value of $100,000 on April 1, 20X1. The bond matures on March 31, 20X6 and has a stated interest rate of 5%. When issued, the market interest rate was 6%. The bond pays interest semi-annually on September 30 and March 31 commencing on September 30, 20X1. In the blank boxes below, please provide the amounts asked for in each of the following questions in this order (when entering amounts please do not use commas, negative signs, dollar signs or cents - please round your answer to the nearest dollar).
Problem 1: The price that the bond will sell for on April 1, 20X1.
Problem 2: Assume that the bond sells three months late on July 1, (interest payment dates and maturity dates are unchanged). Determine the total amount of cash, including accrued interest that Aberdeen will receive when selling the bond.
Discuss briefly how you would "fix" the problem from a "Proper Accounting Practice" perspective. Provide the correct Journal Entry if possible.
On October 1, 2020, Berlin Corp. purchased 250, $1,000, What the amount to be reported in Berlin's 2020 income statement as a result of this investment is?
On January 1, 2017, Crystal Corporation issued a $100,000 10-year bonds at 11%. Interest is paid annually on December 31. The bonds were sold for $94,349 and the yield is 12%. Prepare an amortization schedule that determines interest at the effective..
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must equal the effective interest rate-is greater than the effective interest rate when bonds are issued at a premium.
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On January 1, 2017, Sweet Corporation purchased 325 of the $1,000 face value, 11%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2027, and pay interest annually beginning January 1, 2018. Sweet purchased the bonds to yield 12%. How muc..
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