On January 1, 20x1, an entity issues bonds with a face amount of P4,000,000 for P3,784,798. The

Fantastic news! We've Found the answer you've been seeking!

Question:

On January 1, 20x1, an entity issues bonds with a face amount of P4,000,000 for P3,784,798. The bonds mature on December 31, 20x4 and pay annual interest of 16%. The effective interest rate is 18%.

On December 31, 20x2, after paying the annual interest, the entity retires the bonds at a call premium of P200,000.

Requirement:

Provide the entry on December 31, 20x2 to record the retirement of the bonds.

Posted Date: Sep 20, 2021 05:36 PM

See More Questions

A company issued 5%, 20-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 4%. Interest is paid semiannually. At what price did the bonds sell?
A company issued 5%, 20-year bonds with a face amount of $80 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell?
A company issued 6%, 15-year bonds with a face amount of $75 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell?
The following financial statements for Brownstone plc are a slightly simplified set of published accounts. Brownstone plc is an engineering business that developed a new range of products in 2007....
Reconsider the model in Prob. 4.6-9. Now you are given the information that the basic variables in the optimal solution are x2 and x3. Use this information to identify a system of three constraint...
A gas mixture is found to contain two diatomic A and B species for which the partial pressures of both are 0.05065MPa (0.5atm). This mixture is to be enriched in the partial pressure of the A species...
If you wanted to expand your business to include international customers and vendors, what factors would influence your decision?
You are working with William Bond, CPA, and you are considering the risk of material misstatement in planning the audit of Toxic Waste Disposal (TWD) Companys financial statements for the year ended...
Question 1 Which class is needed to read data from the console? Input System Reader Scanner 1 pts
An investor is considering five possible investment strategies. The investor cares only about the expected payoff and possibly the variance of each strategy. The following table shows the payoffs...
Common uses of the statement of cash flows include all but whichof the following? a/Management prediction of future cash flows for decisionmaking. b/Investor assessment of cash flows before buying...
(a) Define cost in relation to inventory. (b) What is meant by NRV? (c) Explain the rule of lower of cost and NRV for inventory.
If the closed loop transfer function $\mathrm{T}(s)$ of a unity negative feedback system is given by; \[ \mathrm{T}(s)=\frac{a_{n-1} s+a_{n}}{s^{n}+a_{1} s^{n-1}+\ldots \ldots . .+a_{n-1} s+a_{n}}...
Liberty finds no refuge in a jurisprudence of doubt. Yet 19 years after our holding that the Constitution protects a womans right to terminate her pregnancy in its early stages, that definition of...
Let $a, b$, and $c$ be the sides of a triangle and let $\theta$ be the angle opposite $c$. Use the Law of Cosines (Theorem 1 in Section 1.4) to prove the converse of the Pythagorean Theorem.
State the conditions for recognition of an asset.
The O'Connells' CD has tolerance costs that legally exceed the amounts presented in the LE. How many days do you have to refund them? 30 days 45 days 60 days
Is the modified 5-question approach to ethical decision making superior to the modified moral standards or modified Past in approach?
Discretize the product of two functions, as compared to discretizing each function independently, and describe what that means in the language of kets.
Consider the unitary operator $e^{i \hat{A}}$, with $\hat{A}$ Hermitian and acting on function space. Can it be diagonalized? If so, write an expression for its diagonal elements.
Is the square of the "delta function" a distribution? If so, prove it using Dirac's bra-ket notation.

On January 1, 20x1, an entity issues bonds with a face amount of P4,000,000 for P3,784,798. The

Question:

Expert Answer:

On 01 Januara Hhe data Of issuance te entry Date descrption Cashd Debit credit P410001000 ... View the full answer

Students also viewed these accounting questions