Question: Kindly help me answer problem 1 and 2 please Problem 1: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand

Kindly help me answer problem 1 and 2 please

Problem 1: On August 31, 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10* bonds. with a face amount of P1,000 per bond. The bonds are dated April 1, 2021, mature on March 31, 3038 and pay interest every April 1 and October 1. The bonds were issued through an underwriter to whom the entity paid bond issue cost of $120,000. Requirements: A. Prepare all necessary journal entries for the calendar year 2021. B. Compute for the following: 1. How much is the initial valuation or carrying value of the bonds upon recognition? 2. How much cash was received upon issuance? . How much is the interest paid for the year ended December 31, 2021? 4. How much accrued interest payable should be recognized at year end, December 31, 2021? 5. How much is the interest expense for the year ended December 31, 2021? 6. How much is the carrying value of the bond on December 31, 2021? Problem 2: On January 1, 2021, PRANCER Company was authorized to issue 12% bonds with a face amount of P5,000,000. Interest on bonds is payable semiannually on January 1 and July. Bonds mature go, January 1, 2026. The entire issue was sold on February 28, 2021 at 96 including interest. Bond issue post amounts to $180,000. On October 1, 2023, bonds of $2,000,000 face amount were retired at 38. plus accrued interest. Requirements: C. Prepare all necessary entries for calendar years 2021 and 2023 only. D. Compute or provide the answers for the following: Z. How much cash was received on February 28, 2021? 8. How much discount or premium was initially recognized? (In the google form, if discount But = negative sign before the numerical figure.) 9. How much is the interest expense for the year ended December 31, 2021? 10. How much is the carrying value of the bond on December 31, 2021? 11. How much cash was paid on October 1, 2023? 12. How much is the gain or loss on retirement of bonds to be recognized on October 1, 2023? 13. How much is the remaining carrying value of the bonds on December 31, 2023

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