On Mar. 1, 2022, Top Company issued P 700,000 of 10% bonds to yield 8%. Interest is payable semi-annually On Feb. 28 and Aug. 31. The bonds matures in 10 years. Top Company uses calendar year period Table values are: Present value of 1 for 10 periods at 8% 0.4632 0.4564 Present value of 1 for 20 periods at 4% Present value of annuity for 10 periods at 8% 6.710 Present value of annuity for 20 periods at 4% 13.5903

On Mar. 1, 2022, Top Company issued P 700,000 of 10% bonds to yield 8%. Interest is payable semi-annually On Feb. 28 and Aug. 31. The bonds matures in 10 years. Top Company uses calendar year period Table values are: Present value of 1 for 10 periods at 8% 0.4632 0.4564 Present value of 1 for 20 periods at 4% Present value of annuity for 10 periods at 8% 6.710 Present value of annuity for 20 periods at 4% 13.5903

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5MC: On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000...

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