Reference no: EM132855878
Question - On January 1, 2021, Wonder Co. issued P20,000,000, 9%, 10-year bonds for P16,609,866.18. The bonds were issued at an effective interest rate of 12%. Interest is paid every December 31.
On December 31, 2022, after the payment of the annual interest, Wonder reacquired and retired bonds that have a face value of P4,000,000 at 88.
On April 1, 2024, Wonder reacquired and retired bonds that have a face value of P6,000,000 at 86 plus accrued interest.
1. Prepare the journal entry to record the retirement of the bonds on December 31, 2022.
2. Determine the carrying amount of the remaining bonds on December 31, 2022.
3. How much is the carrying amount of the bonds on December 31, 2023?
4. Prepare the journal entries needed in 2024.
5. How much is the interest expense incurred by Wonder in 2024?
6. Determine the carrying amount of the bonds on December 31, 2024.
7. Compute the interest expense incurred by Wonder in 2025.
What is the probability at least one is red
: Three marbles are taken out, one after the other where the previous marble is not replaced. What is the probability at least one is red?
|
What is the journal entry to record the collection
: The entity sold merchandise costing 500,000. What is the journal entry to record the collection if the customer paid on the 10th day
|
Find the probability that there are k cookies left
: Find the probability that there are k cookies left, that is what is P(C=k)?
|
What is the agent total wealth
: Labor income in the current period is $50,000. Labor income in the future period is $110,000. What is the agent's total wealth?
|
Compute the interest expense incurred by Wonder
: On April 1, 2024, Wonder reacquired and retired bonds that have a face value of P6,000,000. Compute the interest expense incurred by Wonder in 2025
|
What 1-variable equation would you solve
: Suppose you were given $900 from your uncle. You deposited that money in a bank and added $35 per month.
|
Does climate change matter before all else
: What do you think nations, governments, and every day people can do about climate change? Does climate change matter before all else?
|
Appropriate databases in accordance to hr rules
: -The advertisement correctly described the position and requirements and was posted in the appropriate databases in accordance to HR rules.
|
Prepare journal entry to record their issuance by Instaform
: On January 1, 2021, Instaform, Inc., issued 12% bonds with a face amount of $55 million, dated January 1. Prepare journal entry to record issuance by Instaform
|