PLEASE DON'T ANSWER IF YOU WILL NOT ANSWER EVERYTHING. I WILL SURELY VOTE FOR CORRECT AND COMPLETE ANSWERS, THANKS!

G.) On January 1, 2021, Wolf Company issued 10% bonds in the face amount of P5,000,000, which mature on January 1, 2031. The bonds were issued for P5,675,000 to yield 8%, resulting in bond premium of P675,000. The entity used the interest method of amortizing bond premium. Interest is payable annually on December 31.

1. On December 31, 2021, what is the balance of the premium on bonds payable?

		507,500
		629,000
		607,500
		675,000

QUESTION 2

1. 2. What is the carrying amount of bonds payable on December 31, 2021?

   		5,675,000
   		4,371,000
   		5,629,000
   		5,000,000

H.)

1. On January 1, 2021, West Company issued 9% bonds in the face amount of P5,000,000, which mature on January 1, 2031. The bonds were issued for P4,695,000 to yield 10%. Interest is payable annually on December 31. The entity used the interest method.

   1. What is the interest expense for 2021?

   		469,500
   		450,000
   		422,550
   		500,000

QUESTION 2

1. 2. What is the carrying amount of the bonds payable on December 31, 2021?

   		4,704,750
   		5,000,000
   		4,695,000
   		4,714,500