Ionia Wuju Blademakers Corp. had an outstanding P5,000,000 of 12% bonds with interest payable on a semi-annual basis every July 31 and Jan 31, due in 8 years. On July 1, it issued P8,000,000 of 10%, 10 year bonds (interest payable July 1 and Jan 1) at 95. A portion of the proceeds was used to call the 12% bonds at 105 August 1. Unamortized bond discount and issue cost applicable to the 12% bonds were P200,000 and P50,000, respectively. How much is the loss on redemption of bonds? How much is the redemption price

Ionia Wuju Blademakers Corp. had an outstanding P5,000,000 of 12% bonds with interest payable on a semi-annual basis every July 31 and Jan 31, due in 8 years. On July 1, it issued P8,000,000 of 10%, 10 year bonds (interest payable July 1 and Jan 1) at 95. A portion of the proceeds was used to call the 12% bonds at 105 August 1. Unamortized bond discount and issue cost applicable to the 12% bonds were P200,000 and P50,000, respectively. How much is the loss on redemption of bonds? How much is the redemption price

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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