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B Grades - ACCG32004D Inter X WileyPLUS X Course Hero x Task List X S SOAP2DAY X + X -> C A edugen.wileyplus.com/edugen/Iti/main.uni G A Update WileyPLUS E4 Backup: Kieso, Intermediate Accounting, 12CE Help | System Announcements O PRINTER VERSION 1 BACK NEXT Question 10 On January 1, 2020, Pina Colada Corp. acquires $310,000 of Spider Products Inc. 9% bonds at a price of $294,849. The interest is payable each December 31, and the bonds mature on December 31, 2022. The investment will provide Pina Colada Corp. with a 11% yield. Pina Colada Corp. applies IFRS and accounts for this investment using the amortized cost model. Prepare a three-year bond amortization schedule. (Round answers to 0 decimal places, e.g. 5,275.) Schedule of Interest Income and Bond Discount Amortization Effective Interest Method Cash Interest Bond Discount Carrying Amount Date Received Income Amortization of Bonds 01/01/20 $ 12/31/20 12/31/21 12/31/22 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record interest received and interest income on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) nato Account Titloc and Fynlanation nahit Cralit Type here to search O 5:26 PM 1 0 0 / 1) ENG 2021-03-21i edugen.wileyplus.com/edugen/lti/main.uni W' I PL E4 Backup: Kieso, Intermediate Accounting, 12CE I ey Lela | vstem Announcements \"5\"\" I I I I I | | I 12'3\"\" I I I I I | | I I SHOW LIST OF ACCOUNTS I LINK to TEXT Prepare the journal entry to record interest received and interest income on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. ) Date Amount Tls and Explanation Debit Credit DEC 31, 2021 I I I I I I I SHUW LIST OF ACCOIIN'I'S I LInK to TEXT Prepare the journal entries to record interest received and interest income on December 31, 2022, and the maturity of the bond. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. ) /0 Type here to search B Grades - ACCG32004D Inter X WileyPLUS X Course Hero x Task List X S SOAP2DAY X + X -> C A edugen.wileyplus.com/edugen/Iti/main.uni G A Update WileyPLUS E4 Backup: Kieso, Intermediate Accounting, 12CE Help | System Announcements O PRINTER VERSION 1 BACK NEXT SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record interest received and interest income on December 31, 2022, and the maturity of the bond. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Dec 31, 2022 (To record collection of interest) Dec 31, 2022 (To record maturity of bond investment) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the entry for the disposal of the investment if Pina Colada had sold the bond on December 31, 2021 for $283,300 instead of holding it to maturity. Assume that 2021 interest received and into aunt titlan Type here to search 9 5:26 PM ^ 0 0 7 1) ENG 2021-03-21B Grades - ACCG32004D Inter X WileyPLUS X Course Hero x Task List X S SOAP2DAY X + X -> C A edugen.wileyplus.com/edugen/Iti/main.uni G A Update WileyPLUS E4 Backup: Kieso, Intermediate Accounting, 12CE Help | System Announcements PRINTER VERSION 1 BACK NEXT (To record maturity of bond investment) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the entry for the disposal of the investment if Pina Colada had sold the bond on December 31, 2021 for $283,300 instead of holding it to maturity. Assume that 2021 interest received and interest income have already been recorded. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER Type here to search 5:26 PM ^ 0 0 / 1) ENG 2021-03-21 edugenwi|eyplus.com/edugen/shared/assignment/test/qchart.uni?itemid = EATi'l5386483297377173100594183151357 List Of Accounts OSE Q uestion 1 O Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Dividends Receivable Dividend Revenue FV-NI Investments FV-OCI Investments Gain on Disposal of Investments in Associate Gain on Disposal of Investments - Cost/Amortized Cost Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain or Loss in Value of Investment Property GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments - Cost/Amortized Cost Loss on Disposal of Investments - FV-NI Loss on Disposal of Investments - FV-OCI Loss on Impairment No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized G or Loss Unrealized Gain or Loss - OCI /0 Type here to search 5227 PM A [l I) [N6 5 g Q ) 2021403721 %
