Reference no: EM132981841
Problem - On January 1, 2017, Jaypee Company purchased bonds with face amount of P1,000,000. The entity paid P700,000 plus transaction cost of P80,000. The bonds mature on December 31, 2021 and pay 3% (for 6 months) interest semi-annually on June 30 and Dec. 31 respectively with 8% annual effective interest. The bonds are quoted as follows:
Dec. 31, 2017 P102
Dec. 31, 2018 P103
Dec. 31, 2019 P104
Dec. 31, 2020 P105
Dec. 31, 2021 P106
Required - Compute the following:
1. Compute the Interest revenue for 2017, 2018, 2019, 2020, 2021?
2. Compute the Unrealized gain for 2017, 2018, 2019, 2020, 2021?
3. Compute the Interest collected for 2017, 2018, 2019, 2020, 2021?
4. Compute the Cumulative gain for 2017, 2018, 2019, 2020, 2021?
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: Problem - On January 1, 2017, Jaypee Company purchased bonds with face amount of P1,000,000. Compute the Interest collected for 2017, 2018, 2019, 2020
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