On January 1, £020, Charisma Company purchased bonds with face amount of P2,000,000 for P1,900,500 including transaction cost of P100,500 to be held as financial assets at amortized cost. The bonds mature on December 31, 2022 and pay interest of 8% annually every December 31 with a 10% effective yield. Required: 1. Prepare a table of amortization of the discount. 2. Prepare journal entries for 2020, 2021 and 2022. Scanned with CamScannerEnormous Company acquired P6,000,000 12% bonds on February 1, 2020 for P5,486,000 to be held as financial assets at amortized cost. The bonds pay interest annually on February 1 and mature on February 1, 2024. The bonds are acquired to yield a 15% effective rate. The fiscal period for the entity is the calendar period. Amortization is:done following the effective interest method. On May 1, 2021, Enormous Company sold all the bonds at 105 plus accrued interest. . Required: a. Prepare journal entries for 2020. b. Prepare journal entries to update the amortization and to record the sale of the bonds on May 1, 2021. Scanned with CamScannerAt the beginning of current year, Jest Company purchased 5-year bonds with face amount of P8,000,000 and stated interest of 10% per year payable semiannually January 1 and July 1. The bonds were acquired to yield 8%. Present value of an arnuity of 1 for 10 periods at 5% 7.72 Present value of an annuity of 1 for 10 periods at 4% 8.11 Present value of 1 for 10 periods at 4% 0.6756 Required: Compute the market price of the bonds. b. Prepare journal entries for the current year. The effective interest method of amortization is used. c. Compute the carrying amount of the bond investment at year-end. Scanned with CamScannerOn January 1, 2020, Flexible Company acquired for P1,150,000 the entire P1,000,000 12% bond issue of another entity to be held as financial asset at amortized cost. Bonds of P200,000 mature at annual interval beginning December 31, 2020. Interest is payable semiannually on June 30 and December 31. Required: a. Prepare a schedule of amortization following the bond outstanding method. b. Prepare journal entries for the current year. Scanned with CamScannerManda Company acquired P6,000,000 of Landoil 12% on May 1, 2020 at 94 plus accrued in financial asset at amortized cost. bonds terest to be held as The bonds pay interest semiannually on February | and August 1, and mature on February 1, 2024. The fiscal period for Manda Company is the calendar period. Amortization is done following the straight line method. On May 1, 2022, Manda Company sold all the bonds at 105 plus accrued interest. Required: Prepare journal entries for 2020, 2021 and 2022. Scanned with CamScanner