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How much is the carrying value of the bonds on december

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Q1. On January 1, 2021, a company issued serial bonds with a face value of P3,000,000 and stated rate of 12%. Interest is payable annually every December 31. The bonds were issued to yield 10%. The bonds mature at an annual installment of P1.000.000 every December 31. How much is the carrying value of the bonds on December 31. 2021?

Q2. On January 1, 2021, a company issued a 10% 5-year bonds with face value of P8,000,000. Interest is payable semi-annually every January 1 and July 1. The bonds were issued to yield 8%. How much is the carrying value of the bonds on December 31, 2021?

Q3. On January 1, 2021, a company issued P2,000,000, 16% bonds at 102. Each P1,000 bonds has one detachable warrant that allows the holder to purchase ten shares of P50 par value stock at P70 per share. The bonds would have been sold at 99 without the warrants. In 2022, 800 of the warrants were exercised. How much is the credit to share premium when the warrants were exercised?

Reference no: EM133138364

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