Please provide answers in good accounting form. Thank you!

Problem 1

On August 31 2021, DASHER Company issued at 104 plus accrued interest, three thousand 10% bonds with a face amount of 1 000 per bond. The bonds are dated April 1 2021, mature on March 31 2026, 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:

All necessary journal entries for the calendar year 2021

How much is the initial valuation or carrying value of the bonds upon recognition?

How much cash was received upon issuance?

How much is the interest paid for the year ended December 31 2021?

How much accrued interest payable should be recognized at year end December 31, 2021?

How much is the interest expense for the year ended December 31 2021?

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 5 000 000. Interest on bonds is payable semiannually on January 1 and July. Bonds mature on January 1 2026. The entire issue was sold on February 28 2021 at 96 including interest. Bond issue cost amounts to 180 000. On October 1 2023, bonds of 2 000 000 face amount were retired at 98 plus accrued interest.

Requirements

All necessary entries for calendar years 2021 and 2023 only

How much cash was received on February 28 2021?

How much discount or premium was initially recognized? (if discount, put a negative sign before the numerical figure)

How much is the interest expense for the year ended December 31 2021?

How much is the carrying value of the bond on December 31 2021?

How much cash was paid on October 1 2023?

How much is the gain or loss on retirement of bonds to be recognized on October 1, 2023?

How much is the remaining carrying value of the bonds on December 31 2023?

Problem 3

On June 1 2021, VIXEN Company received 1,077,200 plus accrued interest for 12% bonds with face amount of 1,000,000. The bonds were sold to yield 10%. Interest is payable semiannually every July 1 and December 31. The entity elected the fair value option for measuring financial liabilities. On December 31, 2020, the fair value of the bonds is at 108. The change in fair value of the bonds is attributable to market factors.

Requirements

All necessary journal entries for calendar year 2021

How much is initial valuation of the bonds?

How much cash was received upon the sale of the bonds?

How much is the interest expense for the year ended December 31 2021?

How much is the gain or loss from change in fair value of the bonds for 2021? (if loss, put a negative sign before the numerical figure)

What is the carrying amount of the bonds payable on December 31 2021?

Problem 4

DONNER Company issued 3-year, 12% bonds with face amount of 4 000 000. Interest is payable semi- annually on April 1 and October 1. The bonds were issued on April 1 2021 for 4 203 028 which represents an effective interest cost of 10% per year

Requirements

Amortization table using the effective interest method

Journal entries for 2021

How much is the interest paid for the year ended, December 31 2021?

How much is the interest expense for the year ended, December 31 2021?

What is the carrying amount of the bonds on December 31 2021?

Problem 5

On January 1 2021, BLITZEN Company issued 10% bonds dated January 1 2021 with a face amount of 8 000 000. The bonds mature on December 31 2026. For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semi-annually on June 30 and December 31

Use at most, 4 decimal places for PV factors

Requirements

Journal entries for 2021

Determine the price of the bonds on January 1 2021?

How much is the interest expense for the year ended, December 31 2021?

How much is the interest expense for the year ended, December 31 2022?

What is the carrying amount of the bonds on December 31 2022?

Problem 6

At the beginning of the year, COMET Company decided to raise additional capital by issuing 8,000 of 1 000 face amount 5-year bonds with interest rate of 12% payable semi-annually on June 30 and December 31. To help the sale of the bonds, share warrants are issued - one warrant for each 1 000 bond sold. The warrant entitles the holder to purchase five shares at 85 per share. The par value of the share is 50. It is reliably determined that the value of the warrants is 25 each at the time of the issuance of the bonds. The bonds are sold at 110 with warrants. The market rate of interest for similar bonds without the warrants is 14%. On December 1, 2021, half of the warrants are exercised and the rest expired. The following present value factors are made available:

Requirements

All entries for 2021

What is the issue price of the bonds without warrants?

What is the equity component upon initial recognition?

How much is the premium or discount on bonds upon issuance? (if discount, put a negative sign before the numerical figure)

How much cash was received upon the exercise of half of the warrants?

How much did the shareholders' equity increase brought about by the transactions involving the bonds with warrants?