On June 1, 2019, Leni Company acquired a 5 year, 10 , P1,000,000 face value bonds for P920,000 The company paid broker's fees amounting to P118,896 As a result, yield rate on the bond was 9 Interests are collectible annually every May 31 The bonds were selling at 120, 105, 98 as of December 31, 20...

Answer Solution Step 1 Carrying amount Face va ...

On June 1, 2019, Leni Company acquired a 5-year, 10%, P1,000,000 face value bonds for P920,000....

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

See More Books

Posted Date: Apr 21, 2022 07:14 AM

See More Questions

The cost of the fair value through profit or loss securities of Cepeda Company at December 31, 2011, is $62,000. AT December 31, 2011, the fair value of the securities is $59,000. Prepare the...
Benny purchased $400,000 of Peach Corporation face value bonds for $320,000 on November 13, 2013. The bonds had been issued with $80,000 of original issue discount because Peach was in financial...
Bats Corporation issued $800,000 of 12% face value bonds for $851,705.70. The bonds were dated and issued on April 1, 2013, are due March 31, 2017, and pay interest semiannually on September 30 and...
Song Corp's stock price at the end of last year was $26.25 and its earnings per share for the year were $1.30. What was its P/E ratio?
The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends upon many factors, including the model year, mileage, and condition. To investigate the...
Suppose a spaceship heading directly towards the Earth at half the speed of light sends a signal to us on a laserproduced beam of light. Given that the light leaves the ship at speed as observed from...
A double acting reciprocating pump has a piston of 250 mm diameter and piston rod of 50 mm diameter, which is on one side of the piston only. Length of piston stroke is 380 mm and the speed of the...
Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National Bank, and the statement shows an ending balance of $638. Listed on the...
20 MPa 40 MPa Problem 1 For the given state of stress, determine (a) the orientation of the planes of maximum in-plane shearing stress, (b) the maximum in-plane shearing stress and the corresponding...
Aaron Hersch is a real estate developer who specializes in residential apartments. A complex of 20 run-down apartments has recently come on the market for $332,500. Hersch predicts that after...
Given 500mm dia. spun pile capacity is 2,000 kN: a) name 3 reason will you will choose pile foundation over footing system. b) column load is 7500 kN, what is the reaction on each pile if the pile is...
If the ellipse: \[a\left(x^{2}-y^{2} ight)+2 b x y-\frac{1}{2} \omega_{o}\left(x^{2}+y^{2} ight)+c=0\] is full of liquid and is rotated about the origin with an angular velocity, $\omega_{o}$, the...
In Smoluchowski's Theory of Coagulation we focus on an individual sphere and assume that other like particles diffuse toward it. Once they reach the sphere, they collide and form a new spherical...
We can transform the wave equation from a partial differential equation to an ordinary differential equation by considering sustained harmonic motion of the type $\cos (n t+\phi)$. Using the...
A tank contains $500 \mathrm{~kg}$ of a liquid whose specific gravity is 2. Determine the volume of the liquid in the tank.
An electric current is uniformly distributed throughout a long, straight wire that has a diameter of $10 \mathrm{~mm}$. If the current through the wire is $3.0 \mathrm{~A}$, calculate the...
Attached is a 6 weeks tracking of 3 portfolio of stocks. I want to know: How to calculate the ROI for each stock and portfolio and their values? How to calculate and what the Rate of Return, Expected...
Construct a 4 x 25 design confounded in two blocks of 16 observations each. Outline the analysis of variance for this design.
You are employed as an accountant for Innovative Computing. Your company is in the process of signing a large contract with an electronics components supplier. You have a personal friend that works...
What information is shown in the heading of a financial statement?
1. Use the final balances of the customer accounts after completing Exercise 7.9 to prepare a schedule of accounts receivable for Calderone Company at January 31, 2019. 2. Should the total of your...
(a) A car is speeding up in the negative $x$ direction. In what direction do $\vec{a}$ and $\vec{v}$ point? (b) To which of the four graphs in Figures 3 . 2 and 3 . 3 does the situation...
The $x$ component of the velocity of a car changes from $-10 \mathrm{~m} / \mathrm{s}$ to $-2.0 \mathrm{~m} / \mathrm{s}$ in $10 \mathrm{~s}$. (a) Is the car traveling in the positive or...
A classmate leaves a message on your voice mail betting that you cannot throw a stone high enough so it lands on the roof of a 20 -m-high building. As you stare out of your window pondering whether...

On June 1, 2019, Leni Company acquired a 5-year, 10%, P1,000,000 face value bonds for P920,000....

Question:

Expert Answer:

Answer Solution Step 1 Carrying amount Face va... View the full answer

College Accounting A Contemporary Approach

Students also viewed these accounting questions