the problem is in the image d.11% convertible bonds, callableliabilities on December 31, 2020:Hancock Company reported the following noncurrent9% registered bond, P250,000 maturing annuallyProblem 5-10 (AICPA Adapted)on December 31, 2020:Unsecuredbeginning in 20212,750,000beginning in 2021, due 20221,250,000Secured12% guaranty security bonds, due 202210% commodity backed bonds, P500,000maturing annually beginning in 20212,500,0002,000,0001. What total amount of serial bonds should be reported?a. 4,750,000b. 3,750,000c. 4,500,000d. 2,000,0002. What is the total amount of debenture bonds?a. 4,000,000b. 1,250,000c. 6,500,000d. 6,000,000189

Answer 1) Total amount of serial bonds should be reported at: Correct option is A i.e. 4,750,000

Problem 5-10 (AICPA Adapted) Hancock Company reported the following noncurrent liabilities on December 31, 2020: Unsecured 9% registered bond, P250,000 maturing annually beginning in 2021 11% convertible bonds, callable beginning in 2021, due 2022 2,750,000 1,250,000 Secured 12% guaranty security bonds, due 2022 10% commodity backed bonds, P500,000 maturing annually beginning in 2021 2,500,000 2,000,000 1. What total amount of serial bonds should be reported? a. 4,750,000 b. 3,750,000 c. 4,500,000 d. 2,000,000 2. What is the total amount of debenture bonds? a. 4,000,000 b. 1,250,000 c. 6,500,000 d. 6,000,000 с.

Problem 5-10 (AICPA Adapted) Hancock Company reported the following noncurrent liabilities on December 31, 2020: Unsecured 9% registered bond, P250,000 maturing annually beginning in 2021 11% convertible bonds, callable beginning in 2021, due 2022 2,750,000 1,250,000 Secured 12% guaranty security bonds, due 2022 10% commodity backed bonds, P500,000 maturing annually beginning in 2021 2,500,000 2,000,000 1. What total amount of serial bonds should be reported? a. 4,750,000 b. 3,750,000 c. 4,500,000 d. 2,000,000 2. What is the total amount of debenture bonds? a. 4,000,000 b. 1,250,000 c. 6,500,000 d. 6,000,000 с.

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 42CE

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