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Problem - On October 1, 2020, Complex Company purchased a 12% P3,000,000 face amount bond issue for P2, 700,000 excluding accrued interest to be held as financial asset at amortized cost. The date of the bonds is February 1, 2020 and the interest is payable semiannually on February 1 and August 1. The bonds mature annually at the rate of P1, 000,000 on February 1, 2020 and every February 1 thereafter.
Required -
a. Prepare a schedule of amortization following the bond outstanding method.
b. Prepare journal entries for 2020 and 2021.
Comment on inventory issues using the concepts of materiality and geographic location. Comment on issues related to diversity in customer base and issues of internal control.
January 1 at a price of $187,500. How much total interest will be recorded by B&B co. as interest expense over the 10 year life of the bonds?
If you are a CFO in Canada for a mid-sized company, What are views to issue a corporate bond, ie., would you think to consider issuing bond?
What was net income?For XYZ Clothing Stores, cash outflow from investing was P50,000. Cash inflow from financing was P13,000.
How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.2? Do not round intermediate calculations.
Signing a 5%, 8-month note payable for the balance amount. Interest and principle will be paid back together at the end of the note. Journal entries.
If your discount rate is 12 percent, calculate payback and the net present value.
Prepare the adjusting entry for each item and The reversing entry for each item where appropriate in general journal form.
Comparison of three key financial products: common stocks, bonds and preferred stocks from the perspective of an investor. Criteria for comparison
Based on this information alone, how would you evaluate their quality of earnings?
Anniston Co. planned to produce and sell 40,000 units. At that volume level, variable costs are determined to be $320,000 and fixed costs are $30,000. The planned selling price is $10 per unit. Anniston actually produced and sold 42,000 units. Prepar..
Rowdy Fun has total assets of $1,900,000 and total liabilities of $550,000 at the beginning of the year and total assets of $2,300,00 and total liabilities of $725,000 at the end of the year.
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