Reference no: EM132970317
On January 1, 2021, CAMPO Company issued the following bonds payable:
Bond 1 - Face amount of P10,000,000; interest of 9%; and will mature on December 31, 2030. The principal is payable in equal annual installments every December 31 of each year, starting in 2021.
Bond 2 - Face amount of P6,000,000; interest of 7%; and will mature on December 31, 2025. The principal is payable in equal semiannual installments every June 30 and December 31 of each year, starting on June 30, 2021.
Problem 1: Determine the portion to be reported as current in the statement of financial position as of December 31, 2021
Problem 2: determine the portion to be reported as noncurrent in the statement of financial position as of December 31, 2021
Problem 3: determine the portion to be reported as current in the statement of financial position as of December 31, 2022
Problem 4: determine the portion to be reported as noncurrent in the statement of financial position as of December 31, 2022
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