Nos. 10-16 pertains to the following:Manabo Company issued ten thousand P1,000 bonds onJanuary 1, 2011. They have a ten-year term and pay interestsemiannually January 1 and July 1. This is the partial bondamortization schedule for the bonds.EffectiveInterestDecrease inBalanceOutstandingBalancePaymentCash8,640,96745,63947.46449.3638,686,6068,734,0701.300.000345,639347.464300,000300,000300,000349,3638.783.4334.Prepare the journal entry to record the issuance of thebonds?10.What is the stated annual rate of interest on the bonds?What is the effective annual rate of interest on the bonds?What is the total amount of unamortized premium ordiscount after its fourth interest payment?Assuming on its fifth year (beginning), ½ of the bonds arepartially retired at 101, how much gain or loss is to berecognized upon retirement?11.12.13.14.Prepare the journal entry to record the retirement ofbonds?15.Prepare the journal entry to record the January 1, 2021transaction.16.

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Nos. 10-16 pertains to the following: Manabo Company issued ten thousand P1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually January 1 and July 1. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Balance Payment Cash Interest Balance 8,640,967 8,686,606 300,000 300,000 300,000 345,639 347.464 45,639 47.464 49.363 8,734,070 349,363 8,783.433 300,000 Prepare the journal entry to record the issuance of the bonds? What is the stated annual rate of interest on the bonds? What is the effective annual rate of interest on the bonds? 123+

Nos. 10-16 pertains to the following: Manabo Company issued ten thousand P1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually January 1 and July 1. This is the partial bond amortization schedule for the bonds. Effective Decrease in Outstanding Balance Payment Cash Interest Balance 8,640,967 8,686,606 300,000 300,000 300,000 345,639 347.464 45,639 47.464 49.363 8,734,070 349,363 8,783.433 300,000 Prepare the journal entry to record the issuance of the bonds? What is the stated annual rate of interest on the bonds? What is the effective annual rate of interest on the bonds? 123+

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 15MCQ

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Similar questions

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