show me the solutions for 7,8,9 thankiessss.... d. Answer cannot be determined due to insufficient data.C. Entity A recognizes neither gain nor loss on therecognizces neieither gain nor loss on theretirement.Answer cannot be determined due to insufficient data.Use the following information for the next three questions:On January 1, 20x1, the BTr issues a 5-year, 5%, P3,000,000 bondsfor 2,640,656. Interest payments are due every December 31 butthe principal is due only at maturity date. The effective interestrate is 8%.7 The entry on December 31, 20x1 to recognize interest expenseis211,252a.Interest ExpenseDiscount on Bonds Payable-61,252DomesticCash in Bank-Local Currency,150,000/Bangko Sentral ng Pilipinas Chapter 12316211,252Interest ExpenseDiscount on Bonds Payable-b.61,252DomesticCash – Modified Disbursement-150,000System (MDS), RegularInterest ExpenseDiscount on Bonds Payable-211,252C.61,252Domestic150,000Interest payableInterest ExpenseDiscount on Bonds Payable-DomesticCash - Modified Disbursement150,000d.61,252211,252System (MDS), Regular8. The carrying amount of the bonds on December 31, 20x1 isa. 2,579,404b. 2,701,909c. 2,768,061d. 2,786,0619. The unamortized bond discount on December 31, 20×2 1sa. 359,344b. 298,092c. 231,939 "d. 213,93910. A provision is measured at

The bonds are issued at discount when market rate is higher than the coupon rate of bonds.

Use the On January 1, 20x1, the BTr issues a 5-year, 5%, P3,000,000 bonds for P 2,640,656. Interest payments are due every December 31 but the principal is due only at maturity date. The effective interest rate is 8%, questions: The entry on December 31, 20x1 to recognize interest expense

Use the On January 1, 20x1, the BTr issues a 5-year, 5%, P3,000,000 bonds for P 2,640,656. Interest payments are due every December 31 but the principal is due only at maturity date. The effective interest rate is 8%, questions: The entry on December 31, 20x1 to recognize interest expense

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

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 5P: Bats Corporation issued 800,000 of 12% face value bonds for 851,705.70. The bonds were dated and...

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Question

show me the solutions for 7,8,9 thankiessss....

d. Answer cannot be determined due to insufficient data.
C. Entity A recognizes neither gain nor loss on the
recogniz
ces nei
either gain nor loss on the
retirement.
Answer cannot be determined due to insufficient data.
Use the following information for the next three questions:
On January 1, 20x1, the BTr issues a 5-year, 5%, P3,000,000 bonds
for 2,640,656. Interest payments are due every December 31 but
the principal is due only at maturity date. The effective interest
rate is 8%.
7 The entry on December 31, 20x1 to recognize interest expense
is
211,252
a.
Interest Expense
Discount on Bonds Payable-
61,252
Domestic
Cash in Bank-Local Currency,
150,000/
Bangko Sentral ng Pilipinas

Chapter 12
316
211,252
Interest Expense
Discount on Bonds Payable-
b.
61,252
Domestic
Cash – Modified Disbursement
-
150,000
System (MDS), Regular
Interest Expense
Discount on Bonds Payable-
211,252
C.
61,252
Domestic
150,000
Interest payable
Interest Expense
Discount on Bonds Payable-Domestic
Cash - Modified Disbursement
150,000
d.
61,252
211,252
System (MDS), Regular
8. The carrying amount of the bonds on December 31, 20x1 is
a. 2,579,404
b. 2,701,909
c. 2,768,061
d. 2,786,061
9. The unamortized bond discount on December 31, 20×2 1s
a. 359,344
b. 298,092
c. 231,939 "
d. 213,939
10. A provision is measured at

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