On July 1, 2019, Matalik Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to yield 10% market rate. The bonds, which mature on July 1, 2024, pay interest semi-annually on January 1 and July 1. Matalik uses the effective interest method of amortization and the bonds are appropriately recorded as long-term liability. The bonds
On July 1, 2019, Matalik Company issued 5,000 of the P1,000 face value, 8% bonds for P4,615,000 to yield 10% market rate. The bonds, which mature on July 1, 2024, pay interest semi-annually on January 1 and July 1. Matalik uses the effective interest method of amortization and the bonds are appropriately recorded as long-term liability. The bonds
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 3MC: On July 1, 2019, Aldrich Company purchased as an available-for-sale security 200,000 face value, 9%...
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On July 1, 2019, Matalik Company issued 5,000 of the P1,000 face
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- P4,676,500 P4,645,750
- P4,584,250 P4,653,500
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