User Account

All Pages

How much is the carrying value of the investment on december

Assignment Help Accounting Basics
Reference no: EM133185196

Question - On January 1, 2021, Herskin Company acquired a bond investment from Ryx for P1,079,854, a price to yield 8% interest payable annually every December 31 for five years. The instrument has a face value of P1,000,000 and a stated interest rate of 10%. SCT Company designated the instrument at amortized cost.

1. How much is the carrying value of the investment on December 31, 2022?

a. 1,066,242

b. 1,051,542

c. 1,035,665

d. 1,108,167

2) Using the same information in the preceding number, how much will be reported as interest revenue on December 31, 2023?

a. 100,000

b. 85,299

c. 84,123

d. 88,653.36

Reference no: EM133185196

Questions Cloud

Organisation and Project Background of Nash Plant Hire : Nash Plant Hire this is a company which works with its client towards provision of Sydney metro. Organisation and Project Background of Nash Plant Hire
What would the present value of the mines revenue : What would the present value of the mines revenue would have been in 2016, assuming 3% and a bauxite of $38 per tonne
What is the estimated cost of missing inventory : Chuchu suspects some of the inventory may have been taken by a new employee. What is the estimated cost of missing inventory
How much is the gain from sale of patent : After the legal action was completed, the entity sold the patent to the plaintiff for P740,000. How much is the gain from sale of patent in 2024
How much is the carrying value of the investment on december : Question - On January 1, 2021, Herskin Company acquired a bond investment from Ryx for P1,079,854, How much is the carrying value of the investment on December
How much is the monthly payment for the mortgage : Question - CHALLENGE PROBLEM - Gary Penn owns a $150,000 brick home. How much is the monthly payment for the mortgage
How much incremental revenue does the company earn per jar : How much incremental revenue does the company earn per jar of polish by further processing Grit 337 rather than selling it as a cleaning powder
What is the total interest paid : Question - What is the total interest paid over 30 years on a 150, 000 mortgage loan with an annual interest rate of 5% percent
What is your solution and recommendation for the board : Wishart Hills Ltd, generated a tax loss for tax purposes for financial year ending 2026. What is your solution and recommendation for the Board

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is ruth taxable income

During the taxation year, Ruth received $11,000 in workers compensation payments, The court order was dated September 1, 2013. What is Ruth's taxable income

  For the current year the company is considering outsourcing

each year sunshine motos surveys 7500 former and prospective customers regarding satisfaction and brand awareness. for

  General and adjusting journal enries-t-accounts

Prepare the following using any required worksheets, general and or adjusting journal enries, T-accounts, and trial balance per pg 212 style.

  What should be reported as variable costs

Fixed costs were $133,000, and net income was $30,500. What should be reported as variable costs on the CVP income statement

  Problem - Adjusting Entries for Prepaid and Accrued Taxes

Problem - Adjusting Entries for Prepaid and Accrued Taxes - Andular Financial Services was organized on April 1 of the current year

  Analyze the adjustments and enter on the work sheet

Analyze the adjustments and enter on the work sheet.Complete the adjustments for the trial balance after one month of operation for Campus Delivery

  Center of earth and falls to the surface of earth

A meteorite is 75,000 km from the center of Earth and falls to the surface of Earth. From Newton's law of gravity (see page 500), the force of gravity varies inversely as the square of the distance between the meteorite and the center of Earth.

  Calculate the profit or loss

the second year of operations, the business reported profit of $178,000, owner withdrawals

  What is the balance of the unearned revenue at end of june

On June 1, Dansby's Bookkeeping Service had a beginning balance in Unearned Revenue of $2,000. What is the balance of the Unearned Revenue at end of June

  Which is a formal written promise to pay a definite

Which of the following is a formal written promise to pay a definite sum of money on demand or at a fixed or determinable future date?

  What are the necessary journal entries

On December 31, 2018, entity reissued all 10,000 shares for P190,000. On the transactions provided from 2017 to 2018, what are the necessary journal entries

  Determining the starting date of credit period

Merchandise is ordered on June 13; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on June 16; the merchandise is received by the buyer on June 18; the entry is made in the buyer's accounts on ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd