1.On January 1, 2020, Chespin Co. issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year payable annually on December 31. The bonds were acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of the bonds on January 1, 2020? (PVF 4 decimal points) 2.How much is the interest expense for 2020? 3. On January 1, 2020, Pharaoh Company issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year. The bonds mature in 3 equal annual installments every December 31. The interest is also payable every December 31. The bonds acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of bonds on January 1, 2020? (PVF 4 decimal points) How much is the interest expense for 2020?
1.On January 1, 2020, Chespin Co. issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year payable annually on December 31. The bonds were acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of the bonds on January 1, 2020? (PVF 4 decimal points) 2.How much is the interest expense for 2020? 3. On January 1, 2020, Pharaoh Company issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year. The bonds mature in 3 equal annual installments every December 31. The interest is also payable every December 31. The bonds acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of bonds on January 1, 2020? (PVF 4 decimal points) How much is the interest expense for 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 7P: Wilbury Corporation issued 1 million of 13.5% bonds for 985,071.68. The bonds are dated and issued...
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1.On January 1, 2020, Chespin Co. issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year payable annually on December 31. The bonds were acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of the bonds on January 1, 2020? (PVF 4 decimal points)
2.How much is the interest expense for 2020?
3.
On January 1, 2020, Pharaoh Company issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year. The bonds mature in 3 equal annual installments every December 31. The interest is also payable every December 31. The bonds acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of bonds on January 1, 2020? (PVF 4 decimal points)
How much is the interest expense for 2020?
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