On January 1, 2019, Tigreal company issued 5,000 of its 5-year, P1,000 face value, 11% bonds dated January 1 at an effective annual interest rate (yield) of 9% \. Interest is payable each December 31. December 31, 2020, the 3,000 bonds were extinguished early through acquisition in the open market by Tigreal for P2,970,000 plus accrued interest. The carrying amount of the bonds on December 31 2019 is?
On January 1, 2019, Tigreal company issued 5,000 of its 5-year, P1,000 face value, 11% bonds dated January 1 at an effective annual interest rate (yield) of 9% \. Interest is payable each December 31. December 31, 2020, the 3,000 bonds were extinguished early through acquisition in the open market by Tigreal for P2,970,000 plus accrued interest. The carrying amount of the bonds on December 31 2019 is?
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
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2E: Held-to-Maturity Securities and Amortization of a Discount On January 1, 2019, Kelly Corporation...
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On January 1, 2019, Tigreal company issued 5,000 of its 5-year, P1,000 face
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