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Question - On Jan. 1, 2021, XYZ purchased bonds for the purpose of both collecting the contractual cashflows and selling the investment. The bonds have a total face value of P6,000,000, interest rate of 8% payable every August 1, and a remaining term of 4 years and 7 months. It paid P6,145,000 inclusive of accrued interest and transaction fee of P50,000. As of the end of the year, the bonds have a fair value of P5,960,000. What is the compound journal entry to update the carrying value of the investment and the balances of the related accounts on Dec. 31, 2021? Provide the interest income to be recorded on that same day. Solutions must be in good accounting form?
Explain Why would you uncheck the 'Bill Received' checkbox when entering a bill on the 'Enter Bills' Screen? When you do not want the bill to be printed
ABC Company employs a periodic inventory system and sells its inventory to customers for $32 per unit. ABC Company had the following inventory information available for the month of May: Calculate the amount of net income reported on ABC Company's in..
Evaluating the effect of alternative depreciation methods on key ratios form analyst perspective - You are a financial analyst for General Motors and have been asked to determine the impact of alternative depreciation methods.
Patrick has $2,000 to invest for 2 years. Which of the options should choose? 3.75% compounded semi-annually/ 4% compounded annually
At the end of the current year, Accounts Receivable has a balance of $750,000; Allowance for Doubtful Accounts has a credit balance of $11,250; and net sales for the year total $4,150,000.
Prepare a production budget for the third quarter showing the number of units to be produced each month and for the quarter in total.
For each of the independent situations identified above, consider and conclude whether the entity is a reporting entity and whether it is required by the Corporations Act 2001 to prepare general purpose financial statements.
If he opens the restaurant at t=0 and sell entire ownership of the restaurant to Peter at t=0, with what price can John sell the ownership?
How much can your church give as college scholarships each year forever, if you give them an endowment of $50,000? Their average return is 6%.
How much must Newdex's after-tax income increase by to prevent dilution of earnings per share? (Round "EPS" to 1 decimal place)
If the average P/E ratio of a group of comparable public companies is 11, what is an estimate of Dodd's stock value on a per share basis
Adler Company has always done some planning for the future, but the company has never prepared a formal budget. Now that the company is growing larger, it is considering preparing a budget.
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