mation re A nd that matures in U was purch The company is investing money set aside for an expansion project planned 10 years from now. E17-2 (L01) EXCEL (Entries for Held-to-Maturity Securities) On January 1, 2017, Dagwood Company purchased at par 6% bonds having a maturity value of $300,000. They are dated January 1, 2017, and mature January 1, 2022, with interest received on lanuary of euch year. The bands are classified in the held-to-maturity category Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entry to record the interest revenue on December 31, 2017 (c) Prepare the journal entry to record the interest received on January 1, 2018 During 20 stock-516 Instructie E17-3 (L01) (Entries for Held-to-Maturity Securities) On January 1, 2017, Hi and Lois Company purchased 12% bonds having a maturity value of $300,000 for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1 2017, and mature January 1, 2002, with interest received on January 1 of each year. Hi and Lois Company uses the effective interest method to allocate unamortired discount or premium. The bonds are classified in the held-to-maturity category Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare a bond amortization schedule, (cPrepare the journal entry to record the interest revenue and the amortization at December 31, 2017 (d) Prepare the journal entry to record the interest revenue and the amortisation at December 31, 2018 E17-4 (01) (Entries for Available for Sale Securities) Assume the same information as in EITB except that the securities are classified as available for sale. The fair value of the bonds at December 31 of each year and is as follows. 2017 $320,300 2000 S310000 2018 $309.000 2021 $300,000 2019 $300.000 Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2017. d) Prepare the journal entry to record the recognition of fair value for 2018 E17-9 L available E17-5 (LOI) EXCEL (Effective Interest versus Straight-Line Bond Amortization) On January 1, 2017, Phantom Company acquires $200,000 of Spiderman Products, Inc., 9% bonds at a price of $185,589. Interest is received on January 1 of each year, and the bonds mature on January 1, 2020. The investment will provide Phantom Company a 12% yield. The bonds are classified as held-to-maturity Instructions (a) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method b) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective interest method On Januar Instructie (a) P (b) s le) P mation re A nd that matures in U was purch The company is investing money set aside for an expansion project planned 10 years from now. E17-2 (L01) EXCEL (Entries for Held-to-Maturity Securities) On January 1, 2017, Dagwood Company purchased at par 6% bonds having a maturity value of $300,000. They are dated January 1, 2017, and mature January 1, 2022, with interest received on lanuary of euch year. The bands are classified in the held-to-maturity category Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entry to record the interest revenue on December 31, 2017 (c) Prepare the journal entry to record the interest received on January 1, 2018 During 20 stock-516 Instructie E17-3 (L01) (Entries for Held-to-Maturity Securities) On January 1, 2017, Hi and Lois Company purchased 12% bonds having a maturity value of $300,000 for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1 2017, and mature January 1, 2002, with interest received on January 1 of each year. Hi and Lois Company uses the effective interest method to allocate unamortired discount or premium. The bonds are classified in the held-to-maturity category Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare a bond amortization schedule, (cPrepare the journal entry to record the interest revenue and the amortization at December 31, 2017 (d) Prepare the journal entry to record the interest revenue and the amortisation at December 31, 2018 E17-4 (01) (Entries for Available for Sale Securities) Assume the same information as in EITB except that the securities are classified as available for sale. The fair value of the bonds at December 31 of each year and is as follows. 2017 $320,300 2000 S310000 2018 $309.000 2021 $300,000 2019 $300.000 Instructions (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2017. d) Prepare the journal entry to record the recognition of fair value for 2018 E17-9 L available E17-5 (LOI) EXCEL (Effective Interest versus Straight-Line Bond Amortization) On January 1, 2017, Phantom Company acquires $200,000 of Spiderman Products, Inc., 9% bonds at a price of $185,589. Interest is received on January 1 of each year, and the bonds mature on January 1, 2020. The investment will provide Phantom Company a 12% yield. The bonds are classified as held-to-maturity Instructions (a) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method b) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective interest method On Januar Instructie (a) P (b) s le) P