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Find amount of the bond presented as non-current liability

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Reference no: EM132546222

On January 1, 2018, Variation Company issued an 8-year bond worth RM1,000,000.

The rate is 6%, paid twice a year on June 30 and December 31. Rate the effective return on the bond at the date of sale is 8%. The present value table is as follows:

Present value of 1 for 8 periods at 6% .627
Present value of 1 for 8 periods at 8% .540
Present value of 1 for 16 periods at 3% .623
Present value of 1 for 16 periods at 4% .534
Present value of annuity for 8 periods at 6% 6.210
Present value of annuity for 8 periods at 8% 5.747
Present value of annuity for 16 periods at 3% 12,561
Present value of annuity for 16 periods at 4% 11.652

Question a) The bond issue price on January 1, 2018 is

Question b) Accounts and amounts debited on June 20, 2018 are

Question c) Accounts and amounts credited on June 20, 2018 are

Question d) The default value of the bonds as of December 31, 2018 is

Question e) The amount of the bond presented as a current liability as at 31 December 2018 is

Question f) The amount of the bond presented as a non-current liability as at 31 December 2018 is

Question g) On June 30, 2019, the Varians Company raised the bond at 102. Expenditure the retirement involved is RM4,000. Gains OR retirement losses that need to be recognized is

Reference no: EM132546222

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