MC34 On December 31, 2019, the liability section of Texas Company's statement of financial position included bonds payable of P10 bonds payable of million and unamortized premium on P180,000. Further verification revealed that these bonds were issued on December 31, 2017 and will become due on December 31, 2027. December 31. Interest at 12% is payable every June 30 and On April 1, 2020, Texas retired P4,000,000 of these bonds at 97 plus accrued interest. How much was the total amount of cash paid for the retirement of bonds on April 1, 2020? P3,950,000 P4,000,000 P4,040,000 P4,180,000 a. b. С. d.
MC34 On December 31, 2019, the liability section of Texas Company's statement of financial position included bonds payable of P10 bonds payable of million and unamortized premium on P180,000. Further verification revealed that these bonds were issued on December 31, 2017 and will become due on December 31, 2027. December 31. Interest at 12% is payable every June 30 and On April 1, 2020, Texas retired P4,000,000 of these bonds at 97 plus accrued interest. How much was the total amount of cash paid for the retirement of bonds on April 1, 2020? P3,950,000 P4,000,000 P4,040,000 P4,180,000 a. b. С. d.
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 16E
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