User Account

All Pages

What is the gain on the sale of the bonds

Assignment Help Accounting Basics
Reference no: EM132600153

Question 1: Tangerine Company acquired P3,000,000 face value 10% bonds as financial asset at amortized cost, on June 30, 2018 for P3,210,000, excluding brokerage of P150,000 and accrued interest. The bonds pay interest semiannually on May 1 and November 1. The remaining life of the bonds on the date of acquisition is 3 years. Straight-line amortization is employed. On December 31, 2018, the bonds were sold for P3,500,000 plus accrued interest. What is the gain on the sale of the bonds?

Reference no: EM132600153

Questions Cloud

Determine the mirror radius of curvature : Suppose you stand in front of a flat mirror and focus a camera on your image. If the camera is in focus when set for a distance
What is the amount citron should record for common shares : Citron Inc., a publicly accountable company, What is the amount Citron should record for common shares when the options are exercised on April 1, 20X7?
Prepare bank reconciliation at November : Balance per books at October 31, $66,956.56; Prepare bank reconciliation (to the correct balance) at November 30, for Indigo Inc. from the information above
What is the surface temperature of betelgeuse : 1. What is the surface temperature of Betelgeuse, a red giant star in the constellation of Orion, which radiates with a peak wavelength of about 970 nm?
What is the gain on the sale of the bonds : What is the gain on the sale of the bonds? Tangerine Company acquired P3,000,000 face value 10% bonds as financial asset at amortized cost
Find what is the gain on the sale of the bond : Straight-line amortization is employed. On December 31, 2018, the bonds were sold for P3,500,000 plus accrued interest. What is the gain on the sale of the bond
What is the current flowing through r1 : Three resistors (R123 (a) What is the current flowing through R1(b) What is the current flowing through R2 = 29 O, R = 49 O,
How much would be the depletion expense for the first year : During the first 2 years of the mine's operations, 300,000 tons were mined each year and sold for P80 per ton. How much would be the depletion expense
What multiplicative factor is the force per unit length : If the distance between the wires is quintupled, (a) by what multiplicative factor is the force per unit length changed?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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