On January 1, 2021, a company issued serial bonds with a face value of P3,000.000 and stated rate of 12%. Interest is payable annually every December 31. The bonds were issued to yield 10%. The bonds mature at an annual installment of P1,000,000 every December 31. How much is the carrying value of the bonds on December 31, 2021? (Round off PV factor to 4 decimal places. Round off final answer to the nearest peso.)

On January 1, 2021, a company issued serial bonds with a face value of P3,000.000 and stated rate of 12%. Interest is payable annually every December 31. The bonds were issued to yield 10%. The bonds mature at an annual installment of P1,000,000 every December 31. How much is the carrying value of the bonds on December 31, 2021? (Round off PV factor to 4 decimal places. Round off final answer to the nearest peso.)

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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