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How much is unamortized discount or premium on bonds payable

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Question 1 - On January 1, 20x7, Babson, Inc., leased two automobiles for executive use. The lease requires Babson to make five annual payments of P13,000 beginning January 1, 20x7. Babson expects to pay P10,000 on the residual value guarantee. The interest rate implicit in the lease is 9%. Babson's recorded lease liability on initial recognition is nearest to

a. P44,070

b. P31,070

c. P48,615

d. None of the choices

e. P35,620

Question 2 - On January 1, 20x1, DELTA Co. issued 1,000, P4,000, 12%, 3-year bonds for P4,198,948. Principal is due on December 31, 20x3 but interests are due annually every year-end. The effective interest rate is 10%. How much is the unamortized discount or premium on bonds payable as of December 31, 20x1?

a. None of the choices

b. P138,843

c. P135,204

d. P198,948

e. P143,134

Reference no: EM133099156

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